Bengaluru, June 29
Fitmint, a Move-to-Earn (rewarding users for engaging in physical exercises) startup, has raised $1.6 million in seed funding round.
The funding round was led by General Catalyst, and also witnessed participation from iSeed, Kearny Jackson, Dweb3 and 1947 Rise, among others. Prior to this fundraise, the startup was bootstrapped.
Fitmint will be using the amount raised for their hiring and team expansion, marketing and optimizing tech infrastructure. The startup said that with the growth boost received due to the fundraise, it targets to generate $ 12-15 million revenue by end of FY 2022-23.
Rohit Sharma, Co-Founder & Chief Executive Officer(CEO), Fitmint said,“ the funding is going to play a massive role in driving and bolstering our mission and vision to create a world where billions of people get fit every day, while being onboarded to the web3 fitness arena in a frictionless manner.”
Furthermore, the funding will enable to onboard the right talent at Fitmint, as well as in improving the technology and product aspects in order to provide cutting-edge, superlative experiences to our users, he added.
Viren Baid, Co-Founder, Fitmint, said, “we are linking a person’s essential daily activity to web3, which enables us to bring mass adoption to web3 in the most frictionless manner. With Fitmint, the revolution in fitness has just started off, and is bound to go a long way further in the times to come.”
Going forward, the company intends to build things such as fitness wearable integration to enable tracking all kinds of physical activities and integration of SocialFi to bring social, fitness and finance together.