● Growfitter is an incentivised wellness & insure tech platform.
● Funds raised to be used for building tech infrastructure, expanding business operations, hiring and branding of the platform.
August 2022, Mumbai: India’s biggest incentivised wellness platform Growfitter raises additional USD 500K in extend pre- series A round led by Venture Catalysts & Singapore based Baksh Capital. The funds will be utilised in building technology infrastructure and expanding business operations, focusing the efforts on hiring and branding of the platform.
Growfitter was recently featured on Sony Television’s Shark Tank India Season 1 Episode 32. & got a deal on the show from shark Aman Gupta, Cofounder & CMO of boAt.
Dr. Apoorva Ranjan Sharma, Co-founder and President Venture Catalysts Group said, “The initiative taken by Growfitter to make fitness more exciting, fun and rewarding instantly caught our attention and we wanted to become a part of the startup’s journey into the Indian Fitness Industry. Our primary focus would be to help fund the advancement of Growfitter’s technology and infrastructure, while furthering business development by leveraging our resources to help build a profitable and sustainable ecosystem.”
Growfitter boasts partnerships with premium brands like Amazon Pay, Defy, Byju’s, Puma, Jockey, Myntra, Lakme, ixigo, and Tata 1mg, Ease My Trip, PharmEasy, MediBuddy, MyGlamm, Clovia, WrapCart and many more, for its reward program. The Growfitter app has close to 1 million app downloads across 200 cities and rewards worth more than USD 1 million has already been redeemed.
Growfitter has now launched Health Insurance
Sanmati Pande, Co-Founder & CEO of Growfitter shares, “Venture Catalyst is one of the best investment platforms run by industry veterans & professionals. Dr. Apoorva Ranjan Sharma has been a great support by providing not just growth capital but also strategic partnerships to scale the business to new heights.”
Birbal Singh Bajaj, Managing Director of Baksh Capital says, “India wasn’t in our radar for blockchain investments, but Growfitter’s offering and traction and their ability to pivot to a web 3.0 business in such a short time has been phenomenal. We are keen to be part of their journey to help them expand across the region”
The fund from this round marks our entry into the Web 3 & Blockchain space where we are building one of its kind move to earn lifestyle & wellness rewards app. Our aim is to reach 10 million users in next 2 years & build an ecosystem powered by AI & Machine learning which will help people to get fit and adopt a healthy lifestyle.” said Harshit Sethy, Co-Founder and CTO, Growfitter