Consolidating gym memberships across cities
The Andheri-based Fitternity was started with $1 million in seed funding from the TV Mohandas Pai-led Exfinity Venture Partners. That was followed up by $2 million funding from the Patni Family Office and lastly an additional $4 million from Nikhil Vohra's Sixth Sense Ventures. Fitternity’s revenue model is built on users buying subscription. Presently, Motwani claims she has a total user base of 1,000,000 subscribers and 200,000 current subscribers, and an annual turnover of Rs 114 crore.
Putting the fizz into fitness
In 2015, the company launched a branded product called Fast & Up which is into sports nutrition. Fast & Up is also the official nutrition partner for the Tata Marathon. More recently, the company launched a women-focused beauty nutrition label called ChicNutrix. Shilpa Khanna, the company’s chief financial officer and head of the ChicNutrix business says that revenue is around Rs 90 crore a year.
The road to good health
“We work with doctors and help them with marketing and sales as well as building their technology capability,” he says. He adds, “The tech specifically helps them to streamline their supply chain for both medicines as well as patient records.”
Nirog Street aims to make the transformation by engaging ayurveda doctors and clinics digitally. Kumar aims to partner 150 ayurvedic medicine manufacturers and brands next year.
A personalised digital assistant with diet and fitness tips
Today, Vashisht says the company generates around Rs 8.25 crore a month and has one lakh paying customers. It has raised around $30 million in funding. The company is headquartered in Singapore and has its administrative offices in Bangalore with 140 employees. It includes nutritionists, fitness trainers and yoga instructors.
Don’t expect to meet them as all personalised services are virtual, he says. The company has also launched in Malaysia and Singapore. It generates around Rs 7 crore a year from those two countries, annually. Recently, Healthifyme partnered Swiggy to share diet plans. Vashisht, a computer science graduate from the University of Pennsylvania, also worked for Blackrock and Deutsche Bank.
Key challenges, he says, include access to top-level AI talent which is not cheap nor in abundance. This meant he had to hire talent in Europe which was expensive.
“Also, scaling internationally for a consumer company that has local strengths is also a challenge,” Vashisht says. His business doubled every year for the last three years, and at an operating level, he expects to turn profitable this year.
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