SUMMARY
The acquisition will enable Appointy to expand its team and foray into the fitness space
As part of the deal, Zyoga’s founders Amitesh Mishra and Vibhu Tripathi will join Appointy
Zyoga is a healthtech startup that offers an artificial intelligence-led virtual fitness studio to fitness coaches and businesses taking online classes
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Online scheduling software provider firm Appointy has acquired fitness startup Zyoga for an undisclosed amount.
The acquisition will enable Appointy to expand its team and foray into the fitness space. As part of the deal, Zyoga’s founders Amitesh Mishra and Vibhu Tripathi will join Appointy, according to Times of India report.
Founded in 2020 by Mishra and Tripathi, Zyoga is a healthtech startup that offers an artificial intelligence-led virtual fitness studio to fitness coaches and businesses taking online classes. The platform helps fitness coaches and allied businesses manage as well as scale themselves.
“This acquisition is a significant milestone for the startup community in Indian tier 2 cities, as it demonstrates that even a city like Bhopal can produce successful startups that can make it big in the US market,” Appointy told TOI
On the other hand, Appointy is a SaaS startup founded by Nemesh Singh and Sarang Verma in 2007. The Bhopal-based startup widely operates in the international market, especially in the US and Singapore.
As per its website, Appointy offers personalised online scheduling software solutions to medium and large-sized businesses. Its solutions help companies streamline business processes such as booking management, client engagement, and employee and resource scheduling.
Singh earlier shared with Inc42 that in the beginning, the startup had twice undergone bankruptcy. The former bankruptcy happened following the shutdown of its Poland-based outsourcing client. During that time, Appointly was selling online scheduling services for free and later started charging $10 per month to its clientele.
The second bankruptcy occurred due to a business dispute; however, Appointy sailed through it without watering down.
In 2014, Appointy got selected for Microsoft’s Accelerator programme 2014 (summer batch) while, in 2016, it claimed to be serving more than 100K customers in over 110 countries.
It competes with the likes of AppointmentPlus, Asana and Calendly, among others.
As per Bain & Company report, the country’s SaaS market is expected to become a $30 Bn space by 2025. The industry will grow at a CAGR of 9% by the forecast period (2025).
In December last year, SaaS startup Codebuddy secured a strategic investment from Indus Net Technologies meanwhile, in September last year, UserStudy secured $1 Mn in a Pre-Seed funding round led by Better Capital.
Sparrow VC, Maninder Gulati, Good Capital and angel investors from Gojek, Microsoft, Meta, OYO, FlexiLoans and UpGrad also participated in UserStudy’s funding round.
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