The fitness tech startup had secured investment from US-based venture fund Joyance Partners last month and the 9Unicorns investment is part of the same funding
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| Ashish Rawat, Founder -Oga Fit |
Mumbai, 12th November, 2020: 9Unicorns, India’s first idea-phase accelerator VC fund, has recently invested an undisclosed amount in the ongoing pre-Series A investment in Oga Fit, a fitness tech startup. The previous funding rounds saw participation from other early-stage investors including David Giampaolo (CEO of Pi Capital), Sarva Yoga and Inflection Point Ventures.
Founded in 2017 by Ashish Rawat,Oga Fit aims to disrupt India’s digital fitness industry by making workout a completely live, on-demand, and engaging experience. Their interactive platform backed by cutting-edge technology promises its users the quality of an in-studio workout withinthe comfort of their homes. The platform’s proprietary motion comparison technology compares the movements of the user and trainer to provide a similarity score and real-time feedback to the user.
“We are very excited to partner with 9Unicorns on this endeavour,” Ashish Rawat, Founder –Oga Fit, said, “Their reputation is well established in India and their faith in our enterprisegives us the motivation we need to take our company to global prominence and achieve our vision of revolutionizing the fitness industry.”
Speaking about the investment, Dr. Apoorva Ranjan Sharma, Co-founder & Managing Director – 9Unicorns, added, “There has been a growing awareness about the benefits of regular exercising among the general public of India. The current times have pushed people to think more seriously about their health and lifestyle. Oga Fit’s vision of a digital fitness platform is fresh, innovative and smart which will make quality fitness classes easily accessible to anyone, anywhere. With highly qualified minds carrying the enterprise forward, we are confident that their innovative IP will capture the imagination of a larger public in no time. We wish them continued success.”
Oga Fit will leverage the capital infusion to drive product development, content creation, and to improve its marketing strategies. Moving ahead, the startup envisions establishing itself in the United States and, slowly and steadily, expanding its geographical footprint across the globe
About 9Unicorns
9Unicorns is India's First Accelerator VC. It provides acceleration support & seed funding to early-stage start-ups. 9Unicorns provides funding of up to $100K per start-up in the first round, and may invest further $500K-$2Mn in successive rounds with its co-investors. From idea stage to angel stage, it supports start-ups across various themes & sectors. 9Unicorns' strength & focus is to provide a hands-on support ecosystem for start-ups, beyond capital. 9Unicorns, besides investment, opens doorsto the start-upsfor access to a wide network of successful founders, category leaders, CXOs of large corporations, seasoned angel investors & partners of global VC funds. Every portfolio company receives acceleration support for 3 months & post-investment support of 18 months.