Lean and Mean Machines: Top 3 Startups in the Fitness Domain
Fitness is truly in trend. And startups are cashing in on this, and how! The number of new startups in the fitness and wellness sector witnessed an increase from 67 in 2010 to 326 in 2015. The sector has also made giant strides in seed and early stage investments to the tune of $495M in 2016-YTD in 86 rounds.
Physical and mental fitness being a vast sector, there are many new innovative products and services on offer by various startups. Some of the successful startups in the physical fitness and gym-ing world include the likes of GymPik, Truweight Wellness, BYG, Classverse, and Gymer.
Founded in 2013, GymPik works as an online marketplace and aggregator for the fitness service providers. Users can find gyms, martial art classes, dance academies, and aerobic centers, including all details about trainers and their accreditations. From dance and Zumba to yoga, dieting, and physiotherapy, GymPik spreads itself across the mat in the fitness world. GymPIk had managed to get a seed fund of $135,000 in the first year of its existence along with a $2 million in an ‘ads for equity’ deal with Brand Capital. The company has over 6,000 centers and 4,000 trainers enlisted on its website with over 2000 unique hits each day.
Fitness is not only about gym-ing startups, as shown by Hyderabad-based Truweight Wellness. The startup offers nutrition mentoring for weight loss with customized plans. The startup managed to get an estimated $3 to $4 million ‘Series A’ funding from venture capital firm Kalaari Capital. While Truweight’s core business of offering weight management services faces hefty competition for other biggies in the space, the startup has shown that even emerging players can find their feet in the startup world and hit the ground running if armed with a good business model and an innovative service.
Launched in 2015, BYG is a startup that allows users to seek hourly sessions with various enrolled gyms and fitness centers. The startup has taken an app-only approach and is operational in five cities currently. From summer activities for children to multiple sporting activities like martial arts, cross-fit, swimming, etc. the startup has been able to increase number of enrolled gyms and fitness centers to over 3000. The startup raised an angel round of close to Rs 2 crores recently.