Growfitter raises $500K in funding from Venture Catalysts and Baksh Capital

• ByStartupStory     |    August 24, 2022

Growfitter, a platform for financially-motivated wellbeing, has raised an extra $500K in an expanded pre-series A funding round sponsored by Venture Catalysts and Baksh Capital, a Singapore-based investment firm.

 Dr. Apoorva Ranjan Sharma,Venture Catalysts Group Co-founder and President said, “The initiative taken by Growfitter, to make fitness more exciting, fun, and rewarding, instantly caught our attention and we wanted to become a part of the startup’s journey into the Indian Fitness Industry. Our primary focus would be to help fund the advancement of Growfitter’s technology and infrastructure while furthering business development by leveraging our resources to help build a profitable and sustainable ecosystem.”

The funds will be utilised in building technology infrastructure and expanding business operations, focusing the efforts on hiring and branding the platform.

For its rewards programme, Growfitter touts affiliations with high-end companies including Amazon Pay, Defy, Byju’s, Puma, Jockey, Myntra, Lakme, ixigo, and Tata 1mg, as well as PharmEasy, MediBuddy, MyGlamm, Clovia, WrapCart, and many others. The Growfitter app has nearly 1 million downloads across 200 cities, and more than $1 million in prizes have already been redeemed.

 “Venture Catalyst is one of the best investment platforms run by industry veterans & professionals. Dr. Apoorva Ranjan Sharma has been a great support by providing not just growth capital but also strategic partnerships to scale the business to new heights.” said Co-Founder & CEO,Growfitter,Sanmati Pande.

About Growfitter

Growfitter is a platform that adds financial benefits to an individuals physical activity by offering goal-based rewards from consumer health and wellness brands and retail financial services from credit cards to health insurance for 30 mins walking, running, cycling, & health quiz on a daily basis.

Follow Startup Story