Funding
Shooting Star Invests $1 Million In HealthTech Startup FitPass
Shooting Star VC Fund, backed by Olympic gold medalist and Indian ace shooter, Abhinav Bindra has invested $1 million in Delhi based health tech startup FitPass. Cofounded by Akshay Verma along with his sister Arushi Verma, FitPass connects and provides users with access passes for gyms and fitness studios.
Launched in 2015, Delhi based Fitpass has already raised $1 million from Mumbai Angels and others just this past December. They also raised an undisclosed amount from the real estate conglomerate SD Group in January. The startup, according to a statement, plans to use the new funds to expand the full suite of FitPass services across 10 cities.
The access pass priced at Rs. 999 per month provides users with an app based pass to workout anywhere at any time across 1,500 gyms and fitness studios in Delhi. According to cofounder Akshay Verma, they already have 400 centers in Bengaluru and are planning to launch in Mumbai and Pune soon.
Abhinav Bindra along with business partner Gaurav Marya launched Shooting Star incubation firm in 2016 with an initial investment of $2 million in an equal partnership with consulting firm Franchise India. Speaking about the investment in FitPass, Abhinav Bindra said it was one of the most promising ventures in Indian fitness domain. Bindra used the app for a few months before deciding to invest in the venture. FitPass founder’s passion and holistic approach were influencing factors in their decision.
Fitpass initially was launched with 65 partners and users could avail a variety of workout options such as gym workout, yoga, Zumba, Pilates, spinning, kickboxing, CrossFit and MMA. The app available on Android and iOS also allows users to consult a dedicated personal nutritionist and follow AI led coaching plans to achieve faster results. As of December last year, the FitPass team consisted 22 members out of which 13 were engaged in technology.
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