Mumbai-based wellness platform Growfitter has raised $500K in an extended pre-Series A round co-led by Venture Catalysts and Singapore-based Baksh Capital.
The company plans to use the capital to develop tech infrastructure, expand business operations, and hire fresh talents.
Founded in 2016 by Sanmati Pande and Harshit Sethy, Growfitter rewards users for physical activities such as walking, running, cycling, and more.. The app uses a motion-sensing proprietary algorithm to accurately predict whether a person is walking, running, in a vehicle, or cycling. It also offers an added monthly subscription-based health insurance plan starting from Rs 249 per month.
Growfitter works with brands like Amazon Pay, Defy, Byju’s, Puma, Jockey, Myntra, Lakme, ixigo, Tata 1mg, EaseMyTrip, PharmEasy, and others for its reward program. The Growfitter app has close to 1 million app downloads across 200 cities and rewards worth more than $1 million have already been redeemed.
Growfitter was recently featured on Sony Television’s Shark Tank India Season, Episode 32, and got a deal on the show from shark Aman Gupta, co-founder and CMO of boAt.