Growfitter raises additional $500K amount from Venture Catalysts & Baksh Capital post their feature on Shark Tank India | Indiablooms - First Portal on Digital News Management
Summary
The funds will be utilised in building technology infrastructure and expanding business operations, focusing the efforts on hiring and branding the platform.Venture Catalysts Group Co-founder and President Dr. Apoorva Ranjan Sharma 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 startups journey into the Indian Fitness Industry. Our primary focus would be to help fund the advancement of Growfitters technology and infrastructure while furthering business development by leveraging our resources to help build a profitable and sustainable ecosystem.Growfitter boasts partnerships with premium brands like Amazon Pay, Defy, Byjus, Puma, Jockey, Myntra, Lakme, ixigo, and Tata 1mg, Ease My Trip, PharmEasy, MediBuddy, MyGlamm, Clovia, WrapCart and many more, for its reward program. 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.Baksh Capital Managing Director Birbal Singh Bajaj said, India wasnt on our radar for blockchain investments, but Growfitters offering and traction and their ability to pivot to a web 3.0 business in such a short time has been phenomenal. We are keen to be part of their journey to help them expand across the regionGrowfitter Co-Founder and CTO Harshit Sethy, "The fund from this round marks our entry into the Web 3 & Blockchain space where we are building one of its kind move to earn lifestyle & wellness rewards app. Our aim is to reach 10 million users in next 2 years & build an ecosystem powered by AI & Machine learning which will help people to get fit and adopt a healthy lifestyle.