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Fitpass Raises $1 Million in Funding, Aims to Expand to 10 Cities in 6 Months

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Fitpass Raises $1 Million in Funding, Aims to Expand to 10 Cities in 6 Months
Highlights
  • Fitpass has raised $1 million through Abhinav Bindra and Gaurav Marya
  • The fresh funds will be used to expand Fitpass' services across 10 cities
  • Fitpass had previously raised $1 million in December 2016

Fitpass, an all-access pass to gyms and fitness studios, has raised $1 million (roughly Rs. 6.47 crores) through India's only individual Olympic gold medallist Abhinav Bindra and his business partner, Gaurav Marya, Franchise India chairman.

The fresh funds invested through Bindra's venture fund - Shooting Star and Franchise India Brands will be used to expand the full-suite of Fitpass' service offerings across 10 cities in the next six months.

Previously, in December 2016, Fitpass had raised  $1 million, from Mumbai Angels and a consortium of Delhi and Bengaluru-based angel investors to grow horizontally and add service verticals, data-driven highly personalised fitness management tools for its users as well as to rollout bespoke enterprise products to its partner gyms/fitness studios.

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Speaking on the announcement, Arushi Verma, co-founder, Fitpass, said, "We are very excited to have Abhinav and Gaurav as our partners - learnings from their personal and professional journeys and access to the networks they command will certainly help us take the Fitpass brand to greater heights."

A decorated shooter, Bindra said, "I used Fitpass for a few months before investing in it. I became a fan. Fitpass is possibly the most promising venture in the Indian fitness domain.

"Arushi and Akshay's passion, the company's continued growth and their holistic approach to fitness have been influencing factors in my decision to invest in them. I am eagerly looking forward to work with the Fitpass team."

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