Fitness Startup Insane AI Raises $873,000 In Seed Round Led By pi Ventures
The company plans to utilize the current round to invest in product development and innovation, strengthen its tech team and accelerate growth in the international market
Insane AI, an artificial intelligence (AI)-powered fitness training app, announced on Wednesday to have closed $873,000 in Seed funding. Leading the round is pi Ventures, an early-stage venture capital fund that backs deep-tech startups, along with a clutch of angel investors including Anupam Mittal (People Group), Sameer Pitalwalla (Epic Games), Saumil Majumdar (SportzVillage), Karan Tanna (GhostKitchens), Arjun Jain (IISc) and LetsVenture.
Insane AI plans to utilize the current round to invest in product development and innovation, strengthen its tech team, and accelerate growth in the international market.
"Mainstream fitness formats can become drab and don't challenge or inspire people enough to really build a long-term habit of fitness. Our unique gamified workout format keeps users highly engaged and motivated to give their best during every session, allows them to monitor their progress, and keeps them committed to their fitness goals. Users that work out on our platform are encouraged to compete against themselves or with friends and can track their fitness metrics holistically. We have done a successful beta release and by the end of the year, we plan to launch across the globe," said Anurag Mundhada, co-founder, Insane AI.
Founded by Anurag Mundhada, Jayesh Hannurkar, and Sourabh Agrawal, Insane AI uses computer vision and artificial intelligence to create the best home workouts and personalized training plans. The computer vision technology developed by Insane AI tracks the user's body motion at a significantly higher resolution than is possible with a smartwatch. Using artificial intelligence and big data, Insane AI understands the impact of every exercise and functional movement on the user's body and personalizes the workouts to help users optimize their fitness journey.
"Digital health and fitness has seen a rising demand amidst the pandemic and is already a multi billion dollar industry. However, the at-home fitness experience is lacking which is waiting to be disrupted by technological advances such as AI, AR and computer vision. At pi, we like companies that fundamentally reimagine sectors on the back of disruptive technology and love the immersive, engaging and sophisticated fitness solution developed by Insane AI. The founders themselves are experienced gamers and experts in deeptech, health and fitness domains. We are impressed by the vision and execution shown by Anurag, Jayesh, and Sourabh and look forward to partnering with them to make gamified fitness central to people's lives," shared Shubham Sandeep, principal, pi Ventures.
With the pandemic and lockdowns, gyms and fitness studios were forced to close or go digital. Over the last year, health and fitness apps saw a spike in growth with the number of downloads increasing by 50 per cent. Consumers increasingly prefer digital fitness tools with analytics to help improve their fitness. Merging fitness and gaming, Insane AI recently launched its digital fitness platform in 2021 that provides interactive and gamified fitness experiences. The app uses AI using the sensors on your phone to count reps, analyze poses and score movements. The AI trainer assesses fitness levels based on performance and assigns workouts accordingly to work on the users' weaknesses and build on their strengths. The app follows stringent privacy protocols and is completely secure, the platform stated.