Get All Access for $5/mo

Fitmint Raises $1.6 Million In Seed Funding The company will use the fund for hiring and team expansion, marketing and optimizing tech infrastructure

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


Fitmint, a Bengaluru-based move-to-earn startup, has raised $1.6 million in Seed funding led by General Catalyst. The round also saw participation from iSeed, Kearny Jackson, Dweb3 and 1947 Rise among others. The company will use the fund for hiring and team expansion, marketing and optimizing tech infrastructure.

"We, at Fitmint, are happy and glad to receive our first-ever Seed funding, which is going to play a massive role in driving and bolstering our mission and vision to create a world where billions of people get fit every day, while being on boarded to the web3 fitness arena in a frictionless manner. Furthermore, this funding will enable us to on board the right talent at Fitmint, as well as an improving the technology and product aspects in order to provide cutting-edge, superlative experiences to our users," said Rohit Sharma, co-founder and CEO, Fitmint.

The startup has already started generating revenue, and with growth booth received due to the fundraise, they are targeting to generate $12 to $15 million revenue by the end of the current fiscal year, FY22-23. In the last 4 to 5 months, Fitmint has also built a strong community of over 1 lakh members on Twitter and Discord coming from over 50 countries across the globe, claimed by the startup in a statement.

"We believe that web3 crypto will increasingly be one of the categories which the founders will choose to build in. These founders will be crypto-native and understand which model works, take time to study a space deeply to create second-mover advantage and will focus on building a real business driven by consumer need, not on the web3 hype. This also stands true for Fitmint and hence today we are excited to lead the Seed round in Fitmint and be an early believer in the company," said Anand Chandrasekaran, partner, General Catalyst.

Founded in 2022, Fitmint helps people to become physically active and get fit while helping them to earn in crypto tokens and NFTs. Fitmint is a move-to-earn app with in-built NFT gaming and social-fi elements where you can earn rewards in crypto or NFTs just by walking, running or working out.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Growth Strategies

Learn business by doing business across the Globe: The next revolution in Entrepreneurship

As the startup ecosystem sees an influx of new entrepreneurs, the question arises: Is our current business education sufficiently equipping students for the entrepreneurial challenges they will face?

News and Trends

Will Nirmala Sitharaman Go Soft on Crypto in Her 2nd Term as FM?

This harsh treatment coupled with India's decision to not yet ban the currency has left many in a fix. So, what does the coming times mean for crypto players in India?

Health & Wellness

Get a Year of Unlimited Yoga Class Downloads for Only $23 Through June 17

Regular exercise has been proven to increase energy and focus, both of which are valuable to entrepreneurs and well-known benefits of yoga.


6 Cost-Effective Ways to Acquire Brand Ambassadors

Boost your brand's visibility and credibility with budget-friendly strategies for acquiring brand ambassadors.

Growing a Business

He Immigrated to the U.S. and Got a Job at McDonald's — Then His Aversion to Being 'Too Comfortable' Led to a Fast-Growing Company That's Hard to Miss

Voyo Popovic launched his moving and storage company in 2018 — and he's been innovating in the industry ever since.

Making a Change

Mastering Resilience: Learn to Detach Mistakes from Your Self-Worth with Darrell Vesterfelt

A moment of crisis led to his partners asking him to step away from one of the businesses that he co-founded