Web3 based Move-to-earn startup fitmint raises $1.6 million in funding
- ByStartupStory | June 30, 2022
Fitmint, a Move-to-Earn firm that pays customers for exercising physically, has secured a seed investment round worth $1.6 million. General Catalyst headed the fundraising round, which included contributions from iSeed, Kearny Jackson, Dweb3, and 1947 Rise, among others. The startup was bootstrapped before this fundraising effort.
The funds generated will be used by Fitmint for marketing, infrastructure optimization, team growth, and recruiting. The business stated that it aims to achieve $12–$15 million in revenue by the end of FY 2022–2023 thanks to the growth boost obtained as a result of the fundraising.
Rohit Sharma, Co-Founder & Chief Executive Officer(CEO), of Fitmint said, “The funding is going to play a massive role in driving and bolstering our mission and vision to create a world where billions of people get fit every day while being onboarded to the web3 fitness arena in a frictionless manner.” He also said, “the money will make it possible to hire the best personnel for Fitmint and improve the company’s technology and product in order to give our consumers cutting-edge, outstanding experiences.”
Viren Baid, Co-Founder of Fitmint stated, “We are tying a person’s fundamental everyday activity to web3 which enables us to bring broad acceptance to web3 in the most frictionless manner.” With Fitmint, the revolution in fitness has just begun and is certain to advance significantly in the next years. In the future, the business wants to develop features like SocialFi connection and fitness wearable integration to combine social, financial, and physical activity tracking.
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