Aditya Hadi Pratama · · 1 min readSingapore Web3 fitness app bags $1.7m in seed money
Gritti, a Singapore-based Web3 fitness app, has raised US$1.7 million in a seed funding round led by Lingfeng Innovation Fund and joined by Youbi Capital, Bixin Ventures, Orderly Network, Stratified Capital, and CDI.
Photo credit: Gritti
Gritti is a move-to-earn app that incentivizes users to exercise and maintain a healthy lifestyle. The blockchain-based app is currently still in closed beta testing and is expected to go to an open beta version later this year.
Joe Hung, as well as executives named just Feng, Wilson, Lohas, and Ted, founded Gritti earlier this year. The firm in a statement said its team previously built one of the largest global running apps with more than 100 million active users and 45,000 communities.
The startup’s advisors include Horst Bente, Adi Dassler Legacy Platform founder; Jared Johnson, former EA Sports China general manager; Bryant Chou former Vice China CEO; Umar former HSBC London investment banking head; and Sami Moughrabie, Atmos Ventures managing partner.
Gritti plans to use the fresh funding to create a conversion channel from Web2 to Web3. It also plans to launch 2,000 pairs of NFT sneakers soon.
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Editing by Miguel Cordon and Arpit Nayak
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