Mobiefit, a mobile-based fitness startup, has raised ₹8.85 crore in a Pre-Series A funding round led by NB Ventures and existing investor MediAssist India. Earlier, the company had raised seed funding in December 2015.

Launched in May 2015, Mobiefit was founded by Gourav Jaswal and actress Gul Panag. The platform is supported by Prototyze, a startup incubator that Gourav Jaswal started in October 2014. The incubator has also backed digital lending company Seynse, IoT transportation technology company TempoGO and SaaS platform HandyTrain, among others.

As per the company, the fitness app currently has more than 750,000 downloads for its two products: MobieFit Run and MobieFit Body. MobieFit Run is a scientific programme aimed at training beginners to run 5 km in under nine weeks.

Notably, India is the second largest market globally for investments in fitness tech startups, bagging $63 million since 2010, according to a study by CB Insights

In January, mobile marketplace for gym memberships, Fitnapp, raised pre-Series A funding from Noida-based real estate developer SD Group.

The same month had seen Fitpass securing $1 million in seed funding from Mumbai Angels, and a clutch of angel investors from Delhi and Bengaluru.

NB Ventures, which led this funding round, is a Dubai-based venture capital firm with a $50 million startup fund. It has recently invested in another health and fitness applicatoin HealthifyMe, which reportedly secured $1 million in December last year.

MediAssist, on other hand, is a healthcare data management company which claims to be processing insurance claims of over 25 million Indians and provides wellness services to over 5,500 companies.

Post a Comment

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