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Fitness Startup BYG Raises Funding Through LetsVenture

Fitness Startup BYG Raises Funding Through LetsVenture

Bangalore-based fitness startup BYG (BookYourGame) has raised an undisclosed amount of funding in a round led by Sanjay Verma (former CEO, Cushman & Wakefield, Asia Pacific) and Amit Khanna ( managing partner, Antuit-Europe) via LetsVenture.

Launched in February 2016 by former Goldman Sachs employees, Devi Prasad Biswal and Avijeet Alagathi, BYG allows its users to buy gym memberships or choose fitness sessions, and pay per session with the ‘Workout Now’ option, without a membership. It is currently operational in New Delhi, Mumbai, Pune, Bangalore, and Bhubaneshwar.

Devi Prasad Biswal, founder and CEO on BYG said, “We had our idea validated almost immediately post launching in February 2016 and saw great initial ‘interest’. However, our fundraising efforts started in March, right after Flipkart’s valuation correction, and we saw very few investors ready to lead. We reached out and presented to roughly 55 investors before we got Amit Khanna to lead the round. Over the last 90 days, we reached a stage when we were 9 days from being bankrupt, had to borrow money from family, friends and their friends, while working 24×7 to preserve the dream.”

Using the Android app, users can book classes and sessions at fitness centres near them, with the sessions being priced between INR 50 and INR 400.

BYG also sells a SaaS solution for fitness providers that helps them engage with their members, and gives access to data and analytics.

Other startups operating in this space include Fitternity, Gympik, etc.

The development was reported by LiveMint.

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