Health-tech startup Fitpass has raised USD 1 Mn in funding from ace shooter, Abhinav Bindra-backed VC fund, Shooting Star. The startup will use the newly raised funds to expand the network of gyms and fitness studios on the platform to 10 cities in the next six months. Based out of Delhi and launched in June 2015 by Akshay Verma and Arushi Verma, Fitpass connects users with gyms and fitness studios.
The platform claims to give unlimited access to multiple options with different types of workouts like Yoga, Zumba, Bollywood Dance, MMA, kickboxing, etc. Priced at Rs 999 per month the fitpass allows you to workout anywhere, anytime across 1,500 gyms and fitness studios in Delhi NCR.
Available on web, iOS and Android, Fitpass is making fitness accessible to the Indian consumer besides removing the traditional monotony associated with working out. Fitpass is bolstered by a team with the strongest pedigree of Oxford, Columbia, IIT, St. Stephen’s and Delhi University, with its teeth cut in UBS Investment Bank, McKinsey, the World Bank, Zomato, Grofers, Fitpass is bringing in the age of ‘fit-tech’ in India.
Fitpass co-founder Akshay Verma said in a statement:
“We have already partnered with 400 centres in Bengaluru and will also launch in Mumbai and Pune soon. We have also seen good traction on the nutrition app and counsellor-side, while our gym ERP has a 93% conversion rate for the centres we work with. It usually takes a centre two months to turn into a paying customer for the Fitpass ERP.”
Incubation fund, Shooting Star LLP was started by Abhinav Bindra in March 2016, Abhinav Bindra, with a vision to invest in startups. The fund was started with an initial investment of USD 2 Mn. It was created in an equal partnership with consulting firm Franchise India. Shooting Star looks to invest in emerging sports academies, rehab, sports injury and health apps, among other sectors.