[Funding alert] Health wellness startup Fitspire raises $220K in pre-seed round
Fitspire said the funding will be used to expand the full suite of its product offerings across the nation in the next six months.
Delhi-based health and wellness brandhas raised $200,000 in its pre-seed round led by Nikhil Parmar and Priyanka Madnani, Founders, EasytoPitch, along with Bollywood Singer Sukhbir Singh and other investors.
According to a statement released by the company, the new funds will be used to expand the full suite of Fitspire’s product offerings across the nation in the next six months.
Founded in 2019 by Vipen Jain, Fitspire provides various health and wellness products in the nutritional segment. Focussed on plant-based food products, Fitspire claims to be India’s first vegan and vegetarian health wellness brand.
Commenting on the development, Vipen Jain, Founder and CEO, Fitspire, said, "We are very excited to have EasytoPitch, Sukhbir Singh, and others as our partners. Learning from their professional, fitness journeys and access to the networks they command will certainly help us take Fitspire to greater heights."
According to The Vegan Society, the demand for meat-free food products has grown 987 percent since 2017. The product also claims to be googled three times more than non-vegetarian or gluten free diets.
Fitspire has also seen consumer demand grow for vegan and vegetarian health supplements in the recent past. The brand has been witnessing key developments in terms of product innovation and portfolio expansion over the past few months.
"Being women-centric and working on Made In India theme in COVID times, the company claims to have acquired around 100 women influencers, trainers, and fitness enthusiasts to help train people better on online space. Our approach has helped us achieve astounding growth rates over the past few months. We hope to make a difference in the lives of many," said Nidhi Jain, Co-founder and Director, Fitspire .
Speaking about the investment, singer Sukhbir Singh said,
“I used Fitspire for a few months before investing in it, and it is one of the most promising ventures in the Indian fitness domain. Vipen’s holistic approach towards fitness has been influencing factors in my decision to invest in Fitspire. I am eagerly looking forward to working with the Fitspire team.”
Edited by Megha Reddy