Companies

TREAD raises $1.1 million in seed round

Our Bureau Mumbai | Updated on October 13, 2020 Published on October 13, 2020

Online fitness start-up to use the funds to fast-track product development, accelerate growth of platform and overall business

Bengaluru-based online fitness start-up TREAD has raised $1.1 million in its seed round from a clutch of entrepreneurs, super angels and pre-seed funds. The company will use this capital to fast-track its product development and accelerate the growth of its platform and overall business.

The firm is in talks with multiple venture capital firms for its Series A round. This funding round comes within three months of TREAD’s inception in July, the company said in a statement.

The investors in this round were Better Capital, Unacademy founders Gaurav Munjal, Roman Saini and Hemesh, Udaan founder Sujeet Kumar, CRED founder Kunal Shah, Citruspay founder Amrish Rau, MPL founders Sai Srinivas and Shubh Malhotra, Jupiter founder Jitendra Gupta, RedBus founder Phanindra Sama, Whiteboard Capital, FirstCheque and Stanford Angels, among others.

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“This fund raise gives us the initial capital to rapidly build-out our product, our content across social platforms and to onboard thousands of professional trainers from across the country. Our immediate goal is to launch an immersive and gamified experience for users to choose their workouts and make consistent progress on their fitness goals,” Dinesh Godara, Founder and CEO at TREAD, said.

Also read: Private equity investments hit record high of $28.66 billion in 2020

TREAD has built an online fitness community on social media channels such as YouTube, where it has 11 lakh subscribers, and on Instagram where it has five lakh followers.

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Published on October 13, 2020
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