In 2017 A Total of 101 Indian Startups Exited and 10 Filed for IPOs Till Date

From the year 2010 to now, the Indian technology startups landscape has seen a phenomenal growth towards creation of innovative startups. It now houses 4,750 tech startups — the highest number in the world after the United States and Britain [Read More]. Now according to a new study by CB Insights, India is the second largest market globally for investments in fitness tech startups, bagging $63 million.

US-based companies have received the highest funding with about 64% ($1.5 billion) of total global deal share $2.4 billion since 2013 from VCs.

After the US (64%), came in India with 7% deals, Canada with 5%, UK and China with 3% each, and Germany with 2%. Large deals above $1 million in India, include CureFit ($46 million), HealthifyMe ($7 million), HUG Innovations ($5 million), Boltt Sports Technologies ($1million), Fitternity ($1million), MobieFit Technologies ($1 million), Fitpass ($2 million). The largest fitness tech deal outside the US went to Munich-based fitness startup eGym, which produces cloud-connected gym equ ipment, in a $45 million series C round in the first quarter of 2016. The round saw participation from Bayern Kapital, High-Tech Grunderfonds, Highland Europe, and HPE Growth Capital.

The most well-funded fitness tech company outside of the US is also eGym, which has raised $60 million total in disclosed funding across two rounds a $15 million series A in the third quarter of 2014 and $45 million series C last year.

“Notable deals include Bengaluru-based CureFit’s recent $25 million series B funding in the third quarter of 2017 and Malaysia-based fitness subscription startup KFit’s $12 million Series A round in the first quarter of 2016,” it added.

RELATED READING  IoT Startups in India Grow 10x in Last Four Years

Founded by former Myntra and Flipkart executives — Mukesh Bansal and Ankit Nagori, CureFit is one of the better known startups in the industry and has signed on actor Hrithik Roshan in a Rs100-crore endorsement deal. The startup has both online and offline channels for healthcare.

To recall, CB Insights — in a separate report also revealed that India is home to the second highest number of unicorn startups in the world, outside of the US [Read More Here].

Like this content? Sign up for our daily newsletter to get latest updates.



This site uses Akismet to reduce spam. Learn how your comment data is processed.

You may also like