Samreen Ahmad · · 1 min readIndian fitness firm raises $1.5m in pre-series A round
Fitelo, an India-based weight management startup, has raised US$1.5 million in a pre-series A round led by Guild Capital and a few executives from business advisory firm Pareto Capital.
Executives from tea chain Chaayos and direct-to-consumer startup Country Delight also participated in the fundraise.
Team Fitelo / Photo credit: Fitelo
The fitness startup, founded in 2019 by Sahil Bansal and Mehakdeep Singh, allows users to achieve their goals with help from a group of dieticians, doctors, nutritionists, and trainers. However, fitness experts do not incorporate or recommend any supplements or medications into diet plans, the company said.
The Fitelo app operates on a subscription-based model and assigns customers a personal health coach who is aligned with their needs. Currently, the healthcare startup has a customer base of over 20,000 users across 15 countries.
“The funds will accelerate our efforts to develop a global platform that focuses on a holistic and natural way of staying healthy, physically and mentally,” said Bansal, who also acts as the firm’s CEO.
The company currently employs 130 members and will increase its workforce to 200 by the end of 2022.
See also: An ex-commando is now crafting personal fitness plans based on your DNA
Editing by Deepti Sri and Joy Tirkey
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