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Online fitness startup ImStrong raises Rs 3Cr in seed funding led by Zerodha's Rainmatter

ImStrong Health And Wellness, which owns and operates live video streaming fitness platform ImStrong, has raised Rs 3 crore in a seed funding round led by Rainmatter Capital.

ImStrong Health And Wellness, which owns and operates live video streaming fitness platform ImStrong, has raised Rs 3 crore in a seed funding round led by Rainmatter Capital, a startup incubator established by online stock trading startup Zerodha.

Existing investor Raghunandan G, co-founder of TaxiForSure, also participated in the round, according to a statement.

The platform offers access to trainer-led fitness classes in an easy and convenient manner online, allowing users to exercise anytime, anywhere with guidance from a professional trainer.

Speaking about the platform, Dilip Kumar, co-founder, ImStrong, said,

“Our video-streaming platform makes it easy for everyone to access trainer-led classes, like yoga and meditation, from the comfort of their home, office, or anywhere else. People find it difficult to find some time for a gym session either due to long travel time or high costs. Now users can exercise anytime, anywhere with guidance from a professional trainer.”

In January last year, the startup had raised an angel round worth $430,000 from Raghunandan G and Nitin Kamath, founder and chief executive officer of Zerodha.

Founded by Dilip Kumar, Selvan Thamarai, and Deepti Nair in 2019, ImStrong connects independent trainers, yoga teachers, studio owners, and gyms with their customers through live online classes.

The founders also state that the platform provides a dual advantage, not only for individual fitness enthusiasts who now can access fitness trainers from the convenience of their homes, but also for fitness trainers. They are enabling fitness professionals and yoga trainers to reach a global audience and build an additional stream of income by having their own digital studio on ImStrong.

“We are also witnessing an upward trend in our business activity, given the current scenario in the country and globally, with people being confined to their homes and dependent on such classes to keep a check on their fitness routine,” added Selvan Thamarai, Co-founder, ImStrong.

With this investment, ImStrong will also be providing exclusive online yoga and mindfulness classes for Zerodha traders.

Nithin Kamath, Founder & CEO, Zerodha, said

“We, at Zerodha, value the overall well-being of our clients. In a mentally taxing activity like trading, you need to have a calm and peaceful mind. ImStrong has created a customised physical and mental fitness plan for our customers to give them access to premium yoga and mindfulness classes online.”

“Since the body and mind are key ingredients to successful trading, especially in times like these, we thought we should do something about it as well. So, we’ve partnered with ImStrong, through our Rainmatter initiative, to make online yoga and mindfulness classes available to all our users.”

Startups offering health and wellness services have gained traction over the past few months. In February, Oga, a Bengaluru-based fitness startup owned by Qvady Technologies, raised $330,000 in a seed funding round from Inflection Point Ventures (IPV).

Last year in September, GOQii Technologies, which makes wearable fitness devices,  raised over Rs 45 crore from Bennett Coleman and Company (BCCL). Also, in September, Gurugram-based Jogo Technologies, which runs fitness and health app Fitso, raised $1.5 million. In August, the Mumbai-based online fitness discovery platform Fitternity raised $1 million from consumer-focused venture fund Sixth Sense Ventures and other investors.

Rainmatter Capital recently invested $300,000 in a seed funding round in Quicko Infosoft, which provides online taxation services. Rainmatter Capital invested in four startups in 2019, including content platform Finception and commodities procurement platform Procol.

-Authored by Ayush Sharma (Content Developer, Startup-Monk)


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CIN- U74999DL2019PTC347107