The company hinted expansion plans outside of India with the new funding round
Delhi-based fitness startup FitMeIn today announced that it has raised an undisclosed pre-Series A round from Japanese healthtech firm FiNC and current investor GHV.
Based in Tokyo, FiNC is a mobile tech company that provides personalised nutrition, fitness and healthcare advice to users by leveraging scientific research, medical test results and artificial intelligence. Its team consists of medical doctors, pharmacists, registered dietitians, athletic trainers, preventive health professionals, data scientists, computer science engineers and researchers in genetics & life sciences.
“With the deal in place, FitMeIn will be able to offer a highly focused, scientifically proven and artificial intelligence driven platform with personalised nutrition, fitness and healthcare advice to users,” according to a press statement by the company.
“The FitMeIn-FiNC alliance will also mean collaboration on various segments – tapping the corporate wellness market with highly customised offerings, health management tools and data sharing for market research/product development.”
The company hinted expansion plans outside of India with the new funding round.
It also stated that the collaboration was the first of its kind in Asia for FiNC. FiNC CEO Yuji Mizoguchi stated that strong local partnership is “essential” to international expansion.
“In addition to this, sharing common vision and rapid growth were key decision factors in our decision to invest in and partner with FitMeIn. With this partnership, we hope to contribute to the solution of large health issues in India such as diabetes and obesity,” he said.
Apart from offering multi-studio membership in premium gyms in Delhi, FitMeIn also offers SaaS-based tool for fitness and wellness service providers to “help them grow, manage and sell business better.” It was founded by three ex-colleagues-turned-friends Nidhisha Varshney, Lalit Singh and Vishesh Goel.
FitMeIn is a portfolio company of Gurgaon-based GHV. It recently partnered with Japanese VC firms World Innovation Labs (WiL) and MT Partners to launch a INR 350 crore (US$52.2 million) fund for Indian startups.
Vikram Upadhyaya, Chief Evangelist and Mentor at GHV Accelerator, dubbed the partnership between FitMeIn and FiNC as the “perfect example” of strategic cross-border partnership between Indian and Japanese companies.
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