Mumbai-based health & weight loss coaching app Obino has acquired Fitard, a rewards-based fitness mobile app startup, for an undisclosed amount.
Founded in 2013 by Pankaj Singh Bora and Shubham Goyal, Fitard is a fitness tracking app that rewards users with Fitard Coins, a virtual currency, on completion of targets to keep up their fitness motivation. The app offers various public and private fitness challenges, with a duration of one to seven days.
On the other hand, Obino was founded in August 2014 by Ritu Soni Srivastava, Vishal Soni and Yogesh S., Obino, offers weight loss coaching services with the help of nutritionists on its platform.
Commenting on the acquisition, Ritu Soni Srivastava, founder & CEO of Obino said, “The philosophy of Fitard was completely in line with our own, of owning the health and weight loss journey, right from providing not just the tools and the expertise but also the motivation.”
The app allows Obino users to track their daily steps and food intake, as well as be coached by experts on giving strong metric-based health outcomes.
Obino’s latest move of acquiring Fitard, aims to enable Obino to join a gamified ecosystem that recognises and rewards users’ health and fitness initiatives. According to a company statement, Obino has been used by nearly 500K users.
Speaking on the acquisition, Shubham Goyal, co-founder, Fitard said, “We had noticed that a large part of the reason that most people don’t meet their health or weight loss goals was because they found it difficult to stay motivated and we were keen to solve that problem. By partnering with Obino, we will come closer to our goal of providing a holistic ecosystem to anyone who wants to get healthier.”
Prior to this in December 2015, Obino raised an undisclosed amount of Seed round funding from RoundGlass Partners. In March 2016, LoveCycles, a comprehensive women’s health tracker app, raised about $741K from seed-stage investors Prime Venture Partners. In December 2016, health and fitness app HealthifyMe secured $1 Mn funding led by Neelesh Bhatnagar, a Dubai-based investor from NB Ventures. Other startups in this segment include Zapluk, FeetApart, FitCircle, etc.
