The health and fitness sector in India is seeing a lot of interst from both investors and entrepreneurs. Gympik Health Solutions, which runs Gympik.com a fitness and wellness marketplace has announced that it has acquired FitnessPapa. As part of this acquisition, all the employees of FitnessPapa will now be joining Gympik.com and Sourabh Kumar, the Founder of FitnessPapa, will join Gympik’s core team.
With the acquisition, Gympik seeks to retain fitness seekers and users in the industry through the ‘One Pass membership’ model by offering them variety and more engagement in their fitness activities with 30 different types of workouts to choose from.
They are also working on a data analytics solution where they aim to make user data about their workouts and well being available to both users and their trainers and coaches. This will enable coaches to make better informed decisions.
Started in March 2015, Fitnesspapa claims to have more than 500 fitness centers in its network spread across Bengaluru, Chennai, and Coimbatore. Their ‘Passport’, a monthly fitness program membership, allows users to join fitness centres in their network for a variety of workouts.
Gympik was co-founded by Ajay and Amaresh Ojha. Amaresh is an IIM Bangalore alumnus and had previously worked at companies like Sun Microsystems, CISCO, and Intuit. The aim was to organise the fitness sector for the trainers and consumers. The startup was bootstrapped for the initial six months but later raised a seed fund of $135,000 to strengthen their technology and business team.
Gympik is an integrated, platform-cum-online marketplace connecting fitness service providers and seekers. They claim to have 6000 centres and 3000 professionals in their network. They recently raised $2M in an ‘ads for equity’ deal with Brand Capital, to be utilized for online and offline marketing initiatives.
Amaresh Ojha, co-founder, Gympik says,
“Our major focus areas so far have been aerobics, gym, zumba, dance, dietitian, physiotherapy, and yoga, which is why this acquisition will prove effective to both parties, and crucially to our users as well who have craved for variety in their workouts,”
In the current age, lot of consumers too are actively monitoring their fitness and calorie intake with a variety of devices and services available in the market. There are other players in the market such as Fitbit, Goqii, and Mi Band which are among the popular choices in India for fitness enthusiasts.
There has been some large investments in this space with Misfit recently tieing up with Snapdeal to make their products available in India. HealthifyMe, a calorie intake and fitness tracker, raised funding from Micromax and a second round from angel investors earlier this year. Truweight which claims to help lose weight with Superfoods, raised Series A funding from Kalaari Capital in May 2015. Orobind, a personal fitness coach app raised $200K investment in their angel round from Harpreet Singh Grover (leading a group of angels) and Zishaan Hayath (leading Powai Lake Ventures) in March 2015.
There are others in the space of fitness aggregators, Fitternity recently raised $1M in funding led by Exfinity VP.