Gymnasium chain Talwalkars Better Value Fitness Ltd said on Friday that it has picked 19 percent stake in online fitness discovery platform for health & fitness solutions GymTrekker for an undisclosed amount.
The investment will help Talwalkars to expand its online presence, it said in a statement.
GymTrekker was founded in April 2015 by chartered accountants Sanmati Pande, Sambhav Jain, Karan shah, Vishal Shah and IT engineer Harshit Sethy.
The portal has 3,500 fitness centres on its platform and offers memberships and other health and fitness services.
The company has its presence in Mumbai, Pune, Ahmedabad, Bangalore and Goa and plans to go across India in 2016. It future plan includes launching of mobile app and expansion into Middle East and Southeast Asia.
The latest deal will help GymTrekker to spread to other metros and tier-2 cities, said Pande.
GymTrekker had raised an undisclosed amount from a clutch of angel investors, including MD and CEO of Atom Technologies, Devang Naralla.
The Mumbai-listed Talwalkars is one of the largest gymnasium chains in the country with 145 centres in 80 cities. The company reported Rs 201 crore revenue and Rs 43 crore profit in 2014-15.
Industry experts believe that the initiative would bridge the gap between members and fitness centres by providing convenience and connect on the go.