Health & Fitness discovery platform, Growfitter clocks $600K in a Pre-Series A round of funding from San Francisco-based VC SQue Capital. As the part of the investment, Karan Chellani, Partner SQue Capital will join the Board of the company while Mukesh Makhija, the Managing Partner of Grace Capital Venture, will join as an Advisor.
Commenting on the investment, Karan Chellani Managing Partner SQue Capital said, “Our fund is focused on AI, Healthtech, Fintech and online retail sectors. Growfitter is one of the startups in health and fitness domain which is working on core AI and Machine Learning technology and continues to grow with a focus to help build and create a complete ecosystem in the preventive healthcare space. We foresee in the next 3-5 years AI will be the key in every technology startup.”
The startup was launched in 2015 by the duo Sanmati Pande and Harshit Sethy with an aim to revolutionise the health and fitness industry in India. The duo combines machine learning and artificial intelligence expertise to motivate people to adopt an active and healthier lifestyle.
The startup claims to already have cross $1.5 Million in Gross revenue by selling 30000+ Fitness membership through their portal with 25% of sales growth month on month.
“The biggest problem in India is people want to be fit but they do not know how to start and where to start. With the help of machine learning techniques, we are trying to make a fitness recommendation system which will help fitness lovers to comprehend the process and achieve their fitness goal effectively. At the same time, this will also help the consumers and fitness centres to keep track of fitness history, even if the gyms got switched. This kind of data has not been available to date in India,” Harshit Sehty mentioned in a statement.
The startup plans to deploy the raised funds in technology infrastructure development and expanding its operation in India as well as international markets like Canada, Middle East and Sri Lanka by 2018.