ITV

Tag: Nikhil Vora

  • Fitternity extends its Series A round – raises additional capital from Sixth Sense Ventures

    Fitternity extends its Series A round – raises additional capital from Sixth Sense Ventures

    MUMBAI: Fitternity has raised an undisclosed amount of funding from Sixth Sense Ventures & several other investors. This is an extension to the Series A of $4 million raised in May earlier this year.

    With over 10 million consumers having used the platform to access over 12,000 gyms and studios across the country, Fitternity is driving the P&L of fitness centres in an asset light fashion. Fitness consumption behaviour is evolving rapidly, driven by Gen Z and millennials who are not only value conscious but seek variety and flexibility. Fitternity has been able to preempt this change through a variety of offerings across the spectrum, because one-size-doesn't-fit-all. On the back of this, Fitternity launched OnePass – an exclusive, all access pass for all fitness and health needs around working out and eating healthy. Now users can get unlimited access to workout across 12,000+ fitness centres & sports facilities across the country with an added feature of lifetime validity. Fitternity pioneered the pay-per-session model, membership portability and dynamic pricing in India.

    The company believes that with its multi-format business models & offerings implemented, the capital infusion will help them grow 10X to USD 100 million annual revenue over the next 24-36 months. The company has been able to establish an optimal linkage between pricing, consumer usage patterns and per unit price and also provide operational support through enterprise solutions.

    Sixth Sense founder and CEO Nikhil Vora said, "Fitness and wellness is at an inflection point in India and Fitternity is at the driver's seat propelling Indians towards a healthier life. Through their unique offerings for consumers, insurance companies and corporates, Fitternity will dominate the $7 billion (2022E) fitness market in India."

    The company is also working with corporates & insurance companies to propel preventive healthcare among Indians. Fitternity along with Aditya Birla Wellness Private Limited has launched a digitally enabled wellness and rewards programme offering workouts to users across the Fitternity ecosystem of gyms & fitness centres. It is also enabling corporate leaders to implement employee-wellbeing initiatives, by replacing outdated reimbursements and inconvenient annual memberships with pay-per-session credits directly into the employees' phones enabling true convenience and flexibility to achieve their fitness goals. Fitternity recently partnered with Reliance Nippon Life Insurance Company to launch one of the biggest fitness challenges, #WalkPeChal Mission Moon – with a goal to achieve 100 crore steps in 30 days via step-counters and fitness sessions booked through Fitternity.

  • NDTV’s Gadgets 360° secures investment from Paytm’s parent co

    NDTV’s Gadgets 360° secures investment from Paytm’s parent co

    MUMBAI: One97 Communications, owner of consumer brand Paytm, has invested in NDTV’s e-commerce venture Gadgets 360°. 

     

    Additionally, NDTV has also appointed Bhawna Agarwal as CEO of Gadgets 360°.

     

    “NDTV Gadgets has always been the most credible go-to-destination for all gadget enthusiasts in India and it is very exciting to see them move to a transactional model with Gadgets 360°. We are looking forward to partnering them in this journey and creating a compelling market-place experience which marries content, curation and commerce,” said One97 & Paytm founder Vijay Shekhar Sharma.

     

    Gadgets 360° has raised funding at a valuation of close to $50 million. Other investors include Inflexionpoint co-founder John Scully, Genpact founder Pramod Bhasin, Sixth Sense Ventures founder Nikhil Vora, former Unilever chairman Vindi Banga and M&S Partners founder and director Hiro Mashita.

     

    Sixth Sense Ventures founder & CEO Nikhil Vora said, “I am most excited to be investing in Gadgets 360°, which has a unique model of being the only curated launch platform for all gadgets. With over 3,000 gadgets launched every year in India, I believe that there is a case for a credible platform to become the brand, which we see in the form of Gadgets 360°.” 

     

    NDTV Convergence chief technology officer Kawaljit Singh Bedi said, “I am personally very excited to have such great investors in Gadgets 360° and to leverage their experience in building this into a large and meaningful business in India and globally. The investors have been pioneers in their field and with their incredible knowledge of building big businesses, they will be crucial for our success.”

     

    The company’s new CEO Agarwal has over 16 years of experience in leading start-ups of the country. She has been instrumental in setting and scaling up brands such as Yatra.com, Seventymm among others. She has been associated with Luxury Retail in the past and is also on the advisory boards of OYO Rooms, Venture Fund among others.

     

    “NDTV Gadgets is a very popular and well respected platform amongst gadget lovers in India and is at a very interesting stage from where it can scale up very well. The new platform will be the game changer for the category and I am very excited to be a part of this journey to help take the category to the next level,” added Agarwal.

     

    NDTV Group CEO Vikram Chandra said, “Gadgets has become one of the most exciting areas of expansion for the NDTV Group. We had built a powerful brand connect in this thanks to our digital platform NDTVGadgets.com and our TV programming, with popular shows like Gadget Guru and Cell Guru. I am delighted to welcome Paytm and Vijay Shekhar Sharma, as an investor in Gadgets 360°.”