Bengaluru-based online fitness startup TREAD has raised its maiden round of funding of $1.1M from a clutch of reputable entrepreneurs, super angels and pre-seed funds. The notable investors who participated in this round were Better Capital, Unacademy founders Gaurav Munjal, Roman Saini & Hemesh, Udaan founder Sujeet Kumar, CRED founder Kunal Shah, Citruspay founder Amrish Rau, MPL founders Sai Srinivas & Shubh Malhotra, Jupiter founder Jitendra Gupta, RedBus founder Phanindra Sama, Whiteboard Capital, FirstCheque and Stanford Angels among others.
This funding round comes within just 3 months of TREAD’s inception in July 2020. The startup will use this capital to fast track its product development and accelerate the growth of its platform and overall business.
Speaking about the fundraise, Dinesh Godara, Founder & CEO, TREAD said, “We are excited to announce our first ever fundraise for TREAD, a visionary homegrown online fitness startup that aims to advance the “Fit India” initiative by offering holistic workouts which are accessible and affordable to everyone in India and in Bharat. This fundraise gives us the initial capital to rapidly build out our product, our content across social platforms and to onboard thousands of professional trainers from across the country. Our immediate goal is to launch an immersive and gamified experience for users to choose their workouts and make consistent progress on their fitness goals.”
TREAD envisions to deliver live streamed group workout sessions through its mobile app and website. Leading trainers and fitness experts around the country will use TREAD’s platforms for showcasing and delivering different types of workouts such as Yoga, HIIT, Cardio, Strength & Conditioning workouts, and so on. By subscribing to TREAD (as per their monthly or yearly subscription plan), users will get unlimited access to various types of workout sessions on the TREAD app and every user will be able to do workouts with a trainer of his/her choice.
Discussing the current opportunities and way forward for TREAD, Dinesh Godara adds, “In this post-COVID world, people are cautious about social distancing and are hesitant to head back to the gyms and fitness centers. Workout from home has become a new normal in fitness around the world. TREAD is squarely positioned around this need and is offering the full range of workouts via online sessions with best-of-breed trainers across all categories. TREAD is building a rich experience for users to pick up workouts, find trainers of their choice and compete with their peers and track progress via a gamified dashboard. TREAD is also creating rich tools for trainers to conduct highly engaging group workout sessions where users feel connected to their trainers similar to their offline experience.”
TREAD has quickly built a thriving online fitness community on social media channels like YouTube, where it has 1.1M subscribers and on Instagram where it has 500,000+ followers already - a demonstration of the team’s deep understanding of building high quality content-driven businesses. The startup is in talks with multiple venture capital firms for its Series A round of funding.