Exclusive: Zomato co-founder Pankaj Chaddah returns as entrepreneur with mental fitness startup Mindhouse

Entrepreneurship is a highly addictive, engrossing and fulfilling journey. People believe that it becomes a way of life for those who have a penchant for creating values and challenging status quo. This lifestyle appears to be increasingly preferred amongst first time successful entrepreneurs in India.

Mukesh Bansal, Kunal Shah, Ashish Kashyap, Satyen Kothari, Jitendra Gupta and several others have chosen the second gig as entrepreneurs over being venture capitals or anything else. 

Zomato co-founder Pankaj Chaddah also has chosen to don the hat of entrepreneurship again with his new gig in mental health space. Entrackr has learnt that Chaddah along with his wife Pooja Khanna have been working on setting up a chain of mental fitness studio.

Sources privy to Chaddah’s plan reveal that the name of the venture would likely to be ‘Mindhouse’. “Chaddah has set up a team of about a dozen people and hiring aggressively across several functions. Mindhouse will have its first fitness studio on Golf Course Road, Gurugram by the next month,” they said.

Entrackr has also verified this independently through a job posting by Mindhouse. According to the description, Mindhouse is an early-stage startup in the body-mind fitness space. It organises beginner level modern mind-fitness classes. The company’s target audience will be working professionals with the objective of relaxation, reducing stress, and improving concentration.

In the segment, Curefit has a presence in mental fitness space with Mind-fit. Mindhouse is likely to compete with the Chiratae, Accel and Kalaari-backed firm.

Sources emphasised that Mindhouse would offer spa, grooming and other beauty-related services. “Chaddah is also in talks with several blue-chip investors to raise up to $15-20 million seed round,” they added. Entrackr has also seen the incorporation documents of Blacktail Mindhouse Pvt Ltd with Ministry of Corporate Affairs (MCA). 

As per incorporation documents, the company will deal engage in business to develop organise, promote, establish, acquire, run or manage health clubs and health centres, yoga centres, massage parlour, beauty parlour, saloons, physiotherapy centres on members ship basis or otherwise.

Chaddah left Zomato in March 2018 after completing a decade at the Alibaba-backed firm. At the time of moving from the company, he retained about Rs 237 crore worth 3.11% stake. It’s not known whether he sold out his stake or continue to hold it completely or partially.

Entrackr has sent queries to Chaddah about his plans related to yet to be launched venture. We will update the post as and when he responds.