Wellness platform Growfitter raises an additional USD 500K in extended pre-series A round led by Venture Catalysts & Singapore-based Baksh Capital. The funds will be utilized in building technology infrastructure and expanding business operations, focusing the efforts on hiring and branding 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 and CMO of boAt.
Apoorva Ranjan Sharma, Co-founder and President of Venture Catalysts Group said, “The initiative was 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.
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”.
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