TREAD, a Bengaluru-based fitness startup, has secured 1.1 million USD funding in its pre Seed round. A cohort of angel investors and VC firms participated in the latest fundraising.
It includes Gaurav Munjal, the founder of Unacademy, Roman Saini, and Hemesh Singh, Sujeet Kumar, Co-founder of Udaan, CRED Founder, Kunal Shah, Amrish Rau, the Founder of Citruspay, Sai Srinivas and Shubh Malhotra, founders of MPL, and many others. Whiteboard Capital, Better Capital, FirstCheque, and Stanford Angel also participated in the fundraising.
Dinesh Godara founded TREAD in July 2020. The company aims to use a fresh tranche to ramp up its product development and accelerate its business growth. It is a homegrown fitness company looking to advance the ‘Fit India’ initiative by providing holistic and affordable workouts.
TREAD to Launch a Gamified User Experiences for Their Fitness Goals
According to the company’s statement, Dinesh, the CEO, and Founder of TREAD, stated that the fresh infusions gave us the required capital to build our products quickly. The team is working on getting the content across several social media platforms and getting thousands of professional trainers from all over India onboard.
The startup’s immediate goal is to launch an immersive and gamified experience for users to select their workouts. It would help them make consistent progress regarding their fitness goals, added the company.
Moreover, TREAD has also built a community for fitness enthusiasts across several social media channels. It has over 1.1 million subscribers on its YouTube channel (1) and 0.5 million-plus followers on Instagram.
The startup is already in talks with multiple venture capital firms to secure its upcoming Series A funding round. In the post-COVID-19 world, people are cautious about social distancing and are hesitant to visit gyms and fitness centers. TREAD addresses the need and offers a full range of workouts with online training sessions from best-of-breed trainers across all categories, stated Dinesh.