GHV Accelerator onboards its fifth start-up FitMeIn to join the league of unicorns
In close succession for its unique 12 month acceleration program, Gurgaon-based GHV Accelerator has onboarded its fifth start-up FitMeIn. It’s an online start-up that offers multi-studio memberships across 250 fitness studios/gyms at affordable rates across Delhi/NCR. This joint workout will empower the start-up to join the league of ‘unicorns’.
Offering funding and mentoring support to start-ups between the incubation and venture capital stage, GHV Accelerator’s objective is to facilitate start-ups to achieve healthy business metrics and 10x growth, thereby enabling them to generate investor interest and get Series-A funding within a relatively short time frame of 12 months. GHV’s portfolio of companies includes disruptive online start-ups like LazyLad, MyTaxiIndia, PickMyLaundry and FoodPort. Recently, LazyLad and My Taxi India raised pre-series A funding from global investors within two months of joining the acceleration program at GHV.
As part of the acceleration program, FitMeIn will get seed funding of upto $100,000 from GHV. Commenting on the same line, Vikram Upadhyaya, Chief Mentor, GHV said, “It’s a novel concept in India. With all kinds of lifestyle diseases catching up early, we will need a paradigm shift in the way we live our lives. With a highly adrenalin-driven team, FitMeIn will completely turn around the way India will workout.”
Founded by Nidhisha Varshney, Lalit Singh and Vishesh Goel, FitMeIn launched itself via a ‘Yogathon’ on International Yoga Day (June 21st 2015). Its mission is to provide customers to do workout anywhere, at anytime and in any form at just a click of a button, without entering into expensive long-term commitments with a single fitness studio or gym. As per the local research carried out by the start-up, 80 per cent people drop out of their gym or fitness classes because of boredom. FitMeIn offers wide variety of workout options, which helps to avoid monotony in their fitness regime.
“Out of experience, I can confidently say that one class or one gym workout for over 2 months can get very boring. That is the problem that we are trying to solve for not only a majority of fitness freaks but ‘wannabe’ fitness freaks as well. With FitCoins, you are spoilt with a wide array of options, which in turn, will make a workout fun; and you are more likely to be consistent when you are having fun,” said Nidhisha Varshney, Founder, FitMeIn.
How its work?
FitMeIn customers gets a wide range of workouts like zumba, pilates, aerial yoga, crossfit, bootcamp, spinning and swimming. It offers affordable monthly membership starting at Rs 2,499 in lieu of which customers earn 20 virtual FitCoins that can be redeemed at partner studios for a workout of their choice. Users can book his preferred spot for the entire week through the online portal using their FitCoins. With typically 0.5-1.5 FitCoins required to book a workout, customers can easily workout for the entire month. These FitCoins can be topped up at any time. The company will be launching its Android and iOS apps soon to ease and supplement its reach via its website.
FitMeIn adds a sense of adventure and exploration to the traditional way of working out, and aims to make working out more fun and engaging to keep them coming back. “Having tried over 10 different gym memberships since college, it was a constant struggle to find the right fit to keep myself coming back to workout more - which is the major pain area FitMeIn is trying to solve,” Vishesh Goel, Co-Founder, FitMeIn.
Currently, the company offers over 5,000 workout sessions every week and plans to increase the number to over 15,000 sessions per week by December 2015 in major cities across country.
According to a recent Assocham’s report, long working hours, changing food habits and lifestyle and increasing stress levels lead corporate employees towards depression. They usually suffer from general anxiety disorders and have wide ranging effects like – daytime fatigue, physical discomfort, psychological stress, performance deterioration, low pain threshold and increased absenteeism. Almost 42.5 per cent of the corporate employees are suffering from ‘depression.’ With its mission to provide a workout anywhere and anytime at just a click of a button, FitMeIn will enable corporate people to live a happy and healthier life. It’s a link that was missing earlier in the standardised solutions available in the fitness domain.