Mumbai-based health and fitness discovery platform Growfitter has raised $600K in a Pre-Series A round of funding from San Francisco-based VC SQue Capital. With this round, Karan Chellani, Partner SQue Capital will join the Board of the company and Mukesh Makhija, the Managing Partner of Grace Capital Venture, will join Growfitter as an Advisor.
“Our fund is focused on AI, Healthtech, Fintech and online retail sectors. Growfitter is one of the startups in health and fitness domain which is working on core AI and Machine Learning technology and continues to grow with a focus to help build and create a complete ecosystem in the preventive healthcare space. We foresee in the next 3-5 years AI will be the key in every technology startup”, said Karan Chellani Managing Partner SQue Capital.
Growfitter was launched in 2015 by the duo Sanmati Pande and Harshit Sethy. It aims to provide an incentivised wellness program, to build individual health quotient, by motivating and rewarding people to adopt an active and healthier lifestyle.
Sanmati is a qualified Chartered Accountant, CPA (Australia) & MBA in Finance and Harshit has done Masters in Artificial Intelligence and Machine Learning from IIIT Hyderabad.
“Harshit is my nephew and when I shared the idea with him, we thought Finance and AI will be a deadly combination to outrage our peers,” tells Sanmati.
With Growfitter, the duo aims to revolutionise the health and fitness industry in India, in line with their machine learning and artificial intelligence expertise. At, the same time, the startup aims to provide solutions to people which can motivate them to join gyms and fitness centres.
Growfitter claims to have already clocked $1.5 Mn in gross revenue by selling 30K+ fitness memberships through the portal. The health and fitness startup is also witnessing month on month growth by 25%. By 2018, the company also plans to expand into 20 more Indian cities and enter into international markets starting from Canada, Middle East, and Sri Lanka.