Fitpass Raises $1Mn from Abhinav Bindra Backed Shooting Star

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Fitpass Funding

Fitpass, a Delhi-based health-tech startup Fitpass has raised $1 Mn in funding from Shooting Star, a VC fund backed by the ace shooter, Abhinav Bindra.

The newly raised will be used to expand the network of gyms and fitness studios to 10 new cities within next six months.

Founded in 2015 by brother-sister duo Akshay and Arushi Verma, Fitpass allows its members a chance to break from expensive yearly gym memberships.

The platform claims to give unlimited access to multiple options with different types of workouts like Yoga, Zumba, Bollywood Dance, MMA, kickboxing, etc. Priced at Rs 999 per month Fitpass members can workout across 1,500 gyms and fitness studios in Delhi NCR anytime.

Fitpass co-founder Akshay Verma said, “We have already partnered with 400 centres in Bengaluru and will also launch in Mumbai and Pune soon. We have also seen good traction on the nutrition app and counsellor-side, while our gym ERP has a 93% conversion rate for the centres we work with. It usually takes a centre two months to turn into a paying customer for the Fitpass ERP.”

In last December, the startup had raised $1 million from Mumbai Angels and a pool of Delhi- and Bengaluru-based angel investors to grow horizontally and add service verticals. This included data-driven personalised fitness management tools for its users and enterprise products for its partner gyms/fitness studios.

An engineer by education and an entrepreneur by choice. Asish is a TCS Best Student Awardee, NDTV featured student entrepreneur and International School of Entrepreneurship Education awardee. He also worked with many startups and big companies for their business development and strategical growth. Asish has been heading The Startup Journal since its inception in 2014.