Machine learning Health & Fitness discovery platform Growfitter.com has reportedly secured $600K amount of funding in Pre Series A round from San Francisco based VC SQue Capital. With this fund round Karan Chellani, Partner SQue Capital will join the board of the company & Mr. Mukesh Makhija will also join Board of Growfitter as an Advisor.
The startup shall deploy the raised funds towards enhancing its technology infrastructure. Growfitter aims to revolutionize the health & fitness industry with their machine learning and artificial intelligence expertise to make fitness recommendation system. Growfitter is the only startup in this space working with insurance companies to launch India’s first Incentivized Wellness Program that puts health First into Health/Life Insurance and motivate & reward consumers to adopt an active & healthier lifestyle.
Growfitter will also use the fund to expand the operation at PAN India level. By 2018 company plans to enter in international markets like Canada, Middle East and Sri Lanka.
Growfitter has already clocked $1.5 Million in Gross revenue by selling 30000+ Fitness membership through their portal with sales growth of 25% month on month basis.
Launched in 2015 by the duo Sanmati Pande who is qualified Chartered Accountant, CPA (Australia) & MBA in Finance and Harshit Sethy who has done his Masters in Artificial Intelligence and Machine Learning from IIIT Hyderabad and his research related to Machine Learning has been awarded best research paper by Eleventh International Multi Conference on Information Processing and published by the International Publisher Elsevier
Growfitter.com is India’s largest health & fitness discovery portal claims to listed 10000+ fitness centre Pan India across 14 cities. Growfitter is also an exclusive partner for Talwalkars Better Value Fitness a listed Fitness chain
“The good thing about Growfitter is that they have tried to understand the complete ecosystem of the industry by meeting Fitness owners, Trainers & consumers and have built a technology platform that automates daily tasks of fitness centres, sell and collect memberships online & track sales, revenue, attendance & attract new customers & track their results,” said Mr Prashant Talwalkar Promoter & CEO Talwalkars Better Value Fitness Limited.
Growfitter aims to serve the nation with PAN India reach on Talwalkars Gym with 250 Fitness centers which has also now acquired the third largest chain Snap fitness. Talwalkars is also a minority stake holder in the company
Growfitter has already partnered with Aditya Birla Health Insurance and has powered the Health & Wellness portal of ABHIL.
“The role we see for ourselves is one of a much-needed catalyst to expand the prevalent health insurance landscape in India by focusing on the ‘health’ in ‘health insurance’ and reward the healthy behaviour by incentivising the efforts,” said Mayank Bathwal, CEO, Aditya Birla Health Insurance Co. Limited.
The biggest problem in India is people want to be fit but they do not know how to start where to start. With the help of Machine Learning techniques we are trying to make Fitness Recommendation System which will help fitness lovers to comprehend the process and achieve their fitness goal effectively,” said Harshit Sethy CTO of Growfitter.com.
The Growfitter founders have also introduced the concept of ‘morning fitness parties’ to create a strong community of health and fitness lovers. These parties, held at fitness clubs and five-star hotel grounds, not only help the startup in building its brand but also help its partnered fitness centres to directly interact with their potential target audience. And the fun comes along with Yoga, EDM Music, Zumba and loads of other health and fitness activities at one place. “The best part is – the entire event is based on sponsorships, so we have to spend real low on our pockets,” says Sanmati CEO Growfitter.com.