Abhinav Bindra's Shooting Star Pumps In $1 Mn In FITPASS

The all-access pass to gyms and fitness studios, FITPASS has raised $1 million led by professional shooter, Abhinav Bindra and his business partner, Gaurav Marya, Chairman, Franchise India. The fresh funds invested through Bindra’s venture fund – Shooting Star and Franchise India Brands Ltd. will be used to expand the full-suite of FITPASS’ service offerings across 10 cities in the next 6 months.

Abhinav Bindra, is a fitness conscious athlete who is committed to making India fitter. To him fitness has a more holistic meaning and that’s what he says attracted him to FITPASS. Aligned to FITPASS’ mission to make fitness affordable and accessible, Bindra said, “FITPASS is possibly the most promising venture in the Indian fitness domain. Arushi and Akshay’s passion, the company’s continued growth and their holistic approach to fitness have been influencing factors in my decision to invest in them.”

Available on iOS & Android, Delhi-based Fitpass connects consumers with the gyms and studios around them and gives unlimited access to lakhs of fitness workouts. With the membership of fitpass, anyone can try different workouts in their suitable locations every day. FITPASS subscribers can work out at any gym/fitness studio, anytime and can freely choose from a variety of available workout options - Gym Workouts, Yoga, Zumba, Pilates, Spinning, Kickboxing, Crossfit, MMA and many more. In addition, users can also consult their dedicated personal nutritionist and follow highly curated A.I. led coaching plans on the FITPASS app to achieve faster results.

“Our tech-first approach has helped us achieve astounding growth rates without burning our funds. The focus has been on data-driven operations and using tech-led solutions to limit human intervention. The latest infusion of capital will allow us to significantly enhance the user experience and digitize the fitness economy. It’s going to be game-changing,” said Akshay Verma, Co-founder, FITPASS.

Earlier,, in December 2016, FITPASS had raised $1 million, from Mumbai Angels and a consortium of Delhi and Bengaluru-based angel investors to grow horizontally and add service verticals, data-driven highly personalised fitness management tools for its users as well as to rollout bespoke enterprise products to its partner gyms/fitness studios.

Sector Overview

The Indian fitness services market is estimated at $16.6 billion per annum by PwC and is the fastest growing services market (25% per annum). With 2/3rds of India being under the age of 35 years, the demand for fitness services is growing at an exponential rate driven by a multitude of factors: medical, personal, fashion, self-confidence, image, etc. While disposable income among Indians has grown by 200% over the last 5 years, India is now counted amongst the most unfit countries in the world. In fact, one in three Indians is classified as medically unfit or suffering from a preventable lifestyle disease – 430 million Indian suffer from hypertension and blood pressure, more than 182 million suffer from diabetes and over 65 million Indians suffer from obesity. WHO attributes physical inactivity and unhealthy diet as the primary reason for rising lifestyle diseases in India.

 

#FathersDay - Here're 12 Entrepreneurs Telling Us The Tale of Their Superhero ‘Fathers’

The relationship with your father indeed is the strongest of all and you know him in and out.He was always there as a strong pillar when you needed him, heard you when you were low, praised you on your achievements. Father is not just our guardian but a mentor,24*7 advisor, consultant, problem solver and what not. When you decided to start out on your own, who was the one who believed beyond doubt that you will succeed? Your father, of course. Being an entrepreneur is hard, being a father is tougher. Here are few startup heroes telling us the tale of their superheroes ‘Fathers’.

‘My Father Is A True Source Of Inspiration For me’

For Rishab Malik, co-founder and Vice President-Business Development at Droom his father is the real hero in his life. He shares a special bond with his father as he was the one who instilled in him the importance of discipline and resilience to achieve our goals in life.

“He always taught us to be ruthlessly focused on achieving results, having the highest moral fibre and also having a Plan B or a contingency plan - all traits he himself picked up during his tenure with the Indian Army. Above all, he taught us the importance of having a good attitude and always thinking positive. He is a true source of inspiration for me in all facets of life be it being a sportsman, a professional or a family man,” says Malik.

‘Sometimes you just have to make your own way to get what you want'

Dhruv Mathur, co-founder at Little Black Book after moving back to India wanted to start his own startup in the payments space, called GetFbPay.in. Looking at local experiences through the lens of ticketing and transactions, his first startup gained significant momentum. However, he and his team decided to integrate with LBB in 2015, and you know who helped him in his vision, it was his father.

'Sometimes you just have to make your own way to get what you want' - this is not really a mantra, but a way of operating for my dad. He's always optimistic of getting what he wants, and never deterred if one way to meet an objective doesn't work out. There's always an alternative action to take, always different people to work with to meet your goal. Learning this MO (Modus Operandi) has made me a better founder, helped seal deals, raise funds, and getting the right people for our team,’ says Mathur.

‘Things Do Fall Into Place Sooner Rather Than Later’

Munmun Ganeriwal, a Nutrition and Exercise Consultant after working with renown contemporaries, she followed her dreams and started her own venture to spread the essence of fitness across. But before reaching the heights, Munmun had to face a lot of hardship which at times take her to the verge of quitting. During this phase, it was her father who held her hand and guided her to stay focused towards her goal.

“Everything is hard before it is easy”, my father often said, every time I was on the verge of losing my patience and giving up. It also made me an optimistic person as it implied that things do fall into place sooner rather than later.I have grown up learning the golden mantra from him that “One can excel only when one puts their heart and soul into their work”. Migrating from MIT Engineering College, from a “highly coveted” course to a “not so well known” course to pursue my passion & study Nutrition and Fitness, also work & train clients after college hours to start my professional journey, all at the age of 20, thus came very naturally to me,” says Munmun.

A Perfectionist Father

Chinmay Bhatt strongly believes that entrepreneurs are a product of strong and rooted parenting. They are not people with overnight success riding on an investment betting wave by venture capitalists. They are individuals with immense mental strength and self-discipline.

Bhatt father is very high on self-discipline. He shares that every small task he takes up, he gives it a 100%. Right from filling water bottles, polishing shoes, even fixing a fuse or renovating the kitchen for Diwali. Bhatt says if his father was involved, he would go in the minutest of the details and do it with utmost cleanliness and perfection.

“We were painting a wall together once, he was doing double coats and I was running out of patience (as I had to go to play cricket). When he saw me edgy, he quoted -- I can't sleep well, if deep down my heart I know I could have done it better. Can you? Though perceived perfectionism is a problem for many and holds them back. Time spent with my dad has evolved me to be active and perfection-oriented along with a sensible balancing,” shares Bhatt, Chief Marketing Officer at Shopholix.

‘If Everyone Is Moving Forward Together, Then Success Takes Care Of Itself’

Having grown up on the backseat of her dad's impromptu motorcycle trips and hour long breakfast discussions, Mitali Tandon has been in close proximity of watching her father personal and professional journey of being a successful entrepreneur, a respected industry expert and a great leader. As an entrepreneur, Tandon, every time when she is at a crossroads, she can't help but reflect on the way her dad met his challenges.

“My father doesn't have to try hard really, it's been all the little things that happen on a daily basis that add up to superhero status. One of the biggest take-away's, for me, has been his leadership style. He is the most inclusive and collaborative leader. Everyone that has worked with and around him has been prosperous and grown consistently. His strong vision and ability to carry people has impacted the way I build my team and interact with my partners, an ability that's particularly relevant in today's competitive world. My father and I strongly believe in a quote by Henry Ford - If everyone is moving forward together, then success takes care of itself.” shares Tandon, co-founder of Morning Fresh, post drinking anti-hangover detox drink.

'Be Witty'

Shishir Gupta, CEO at Oakter believes that he has got two most defining traits of his personality from his dad. One is forgetfulness and other is wit. He learned from him that there is only one right perspective to look at this world and life in general and that is the witty perspective.

On asking Gupta about the relationship he shares with his father, he said “I remember an incident, my dad once called one of my friends. He didn't have my dad's number so he asked ‘Aap kaun?' and he replied 'Rishte main to hum Shishir ke baap lagte hain.’ My friend almost died laughing. Both these perspective really helps in a stressful situation as an entrepreneur and help in keep moving forward. One thing that I haven't inherited from him is his altruism.He really makes me wonder how can anybody dissolve boundaries between self and non-self to such an extent. To me, it just looks crazy. Perhaps someday I will grow up to understand.”

‘Never Leave Anything Undone And Incomplete’

FitPass Co-founder, Arushi Verma’s father has given her golden mantra to always believe in herself and never leave anything undone and incomplete. “He told me to focus on my aim to set an example for others. Two years ago when I decided to start FITPASS he asked me to lead from the front and be confident of myself and my decisions.He always showed me a positive way and helped me look at mistakes as lessons in life,” shares Verma.

‘Believe In Yourself’

For Tapan Dixit, CEO and co-founder at Talespin his father has been a huge inspiration to him. The best lesson he has learned from his father is to always believe in yourself. “Looking back, it’s so important than being the best in class or winning every battle. When I was a young boy, I remember my father telling me that there’d be times when I would fail, or when things won’t turn out the way I’d ideally like them to and it’d be in times like these that I’d have to stay strong and believe in myself. Success comes with self-belief and perseverance,” says Dixit.

‘Put Blinders On The Sides That Conspire You To Hold Back’

Surabhi Mittal is the creative trigger behind Revived by Surabhi, a Ghaziabad-based home décor design label that focuses on reviving old traditional techniques and dying arts while celebrating the power of hand making. For Mittal, her father means the entire world.

On asking her, how his father inspired her, she said, “The best advice given by my father was to simply put blinders on the sides that conspire you to hold you back. He constantly reminded me to not think what the world is thinking about you. His golden mantra was that dreams are not what you see in sleep, they are something that does not let you sleep. He used to tell me that you are my fish who will swim in a unique direction and will not follow the school of fish. Following his precious advice and support, I have been able to start my own business and in a continuous process to achieve great heights.''

‘Small Signs Reveals Big Things About People’

Instappy founder Ambika Sharma shares a special bond with her father. Her father has taught her about the small aspect of life which contributes to a greater extent in a life. “He taught me to have strength, to listen, to pay attention to the small signs which reveal big things about people, my love for adventure and above all he taught me that anything is possible to achieve, you have to believe that you can and you have to be willing to work hard for it,” says the founder.

‘Balance Work And Life While Aspiring For Excellence In Both’

For Lakshmi Dasaka, his father has played an integral part in her upbringing. It was her father who helped her to stay true to her goals and manage time effectively and therefore today she is the co- founder of Goodness, that aims to bring the café experience right to your doorstep.

“Being an army officer, my father was very discipline.I have never seen my father complain about his work schedule or pressure. Work truly is worship for him. He is 65 years old and still has a 14-18 hour work day and a very fit and active lifestyle. As an entrepreneur and a mother, this is an everyday inspiration for me to balance work and life while aspiring for excellence in both,” shares Dasaka.

‘Always Be Passionate’

Two years ago when Jimmy decided to start his own business, it was her father who stood by her and told her to respect her decision and never lose faith in what she decided to take forward. He has always been her source of inspiration whenever she face any challenge in her life.

Jimmy Kaul, M.D and co-founder of Shopotox says "The best advice my father ever gave me was to always believe in your instincts and be passionate for what you set to achieve. He said that this is true that there will be many hurdles in the way but never give up and you continue your struggle until you succeed. In life, you need to be strong enough to stand against the odds. He told me to be financially independent to take care of my needs ".So, what are your dad’s mantra which keeps you going? Do share with us in the comment box below. Also, this year do go on a date with your dad and spend some quality time and go down the nostalgic lane while enjoying your meal.

So, what are your dad’s mantra which keeps you going? Do share with us in the comment box below. Also, this year do go on a date with your dad and spend some quality time and go down the nostalgic lane while enjoying your meal.

[Top-most Image - Shutterstock]

FITPASS Raises $1M in Seed Funding from Mumbai Angels and Others

FITPASS, the all-access pass to gyms and fitness studios, has raised $1 million in seed funding from Mumbai Angels and a consortium of Delhi and Bangalore based Angels.

FITPASS, a pioneer in the fit-tech space in India, breaks all the barriers to fitness for its consumers. Priced at only Rs.999 a month, this all-access app based pass is not only significantly cheaper than a regular gym membership but also provides its users freedom from long term contracts and yearly upfront payments. Available on iOS & android, FITPASS is economical, convenient and offers every workout imaginable, ranging from gym workouts, yoga, zumba, pilates, spinning to kickboxing, MMA and many more. With the highest density and largest partner network of gyms and fitness studios, FITPASS users can work out anywhere, anytime close to their homes, offices, neighbourhood markets, etc. Co-founder Arushi Verma points out that “with fitness being increasingly top of mind, FITPASS’ model has low customer acquisition costs, loyal users and low churn rates, contributing to a strong and sustainable business model”.

FITPASS has been at the forefront of innovation to create a sustainable health and fitness ecosystem in India. Despite bootstrapping for 12 months, FITPASS successfully established itself as the undisputed category leader. While pure information portals such as Fitternity and Gympik raised capital early on, FITPASS has far surpassed such indirect and other direct competitors with its tech-first approach, which has allowed it to grow rapidly without burning cash. A data driven company, FITPASS believes in solving everything through tech with limited human intervention to enhance the user experience.

Publicly available data on Appstore and Google confirm that FITPASS commands the highest number of app downloads in India and is the #1 ranking web platform in the country compared to its competitors. FITPASS attributes its ever-increasing traction to its holistic offering from easy access to workouts to personalised diet plans, health and nutrition products, fitness accessories and everything else one needs to get fit and stay fit.

A participating investor expressed that “unlike many start-ups, FITPASS is both cash generative and profitable. Every 10,000 users means Rs.1 crore in topline for the company! With the fitness industry growing at 25% year-on-year and the spend on fitness estimated at c.$16.6 billion, FITPASS’ one-stop-shop offering makes it an attractive investment.”

FITPASS co-founder, Akshay Verma, explains how fitness is an assistance oriented service segment that requires a lot of customisation and enhancement for each individual user – “there is no one size fits all in fitness.” With regards to the utilisation of fresh capital, Akshay further adds – “this curated assistance can only be provided through deep tech – we are working on this and will be launching many exciting features offering highly personalised fitness management tools to our users. Simultaneously, there is an exciting product being rolled out for our partners that allows them to bring new approaches for their customers and make data driven informed business decisions for themselves. We are changing the game in India!”. With 1,250+ gyms and fitness studios currently in its partner network in Delhi NCR, scaling up their operation and expansion to other cities is also a priority for FITPASS.

The investor also added that “the FITPASS team has great potential as it is made up of real product people focused on generating insights, understanding the problems and investing time into finding efficient solutions.”