OyoFit, a Bangalore based fitness club has raised an undisclosed amount of funding in seed round from RN Agarwal, Managing Director of Wep Peripherals.
It plans to use the capital to hire people, launch APIs that will be used by diet food and medical service providers, and to develop live inventory management software.
Founded in September 2015 by IIT-Roorkee graduates Shivank Agarwal, Gaurav Bhatia and Ruchir Garg, OYOFit offers users to discover, book and experience fitness services in over 150 partnered fitness clubs.
It is offering more than 30 fitness activities including sessions for zumba, pilates, yoga, dance, aerobics, and more, without the need of an yearly contract.
Within just few months of its operations, it has been able to get many big companies on-board for its fitness programs. Companies such as DreamOrbit, HackerRank, Airrescue, MoveInSync, FxCart, HackerEarth, Hacker Rank, RazorPay, Jet Airways have signed up with OYOFit to provide fitness programs to its employees.
Talking about the challenges in the space, Agarwal said,
It is difficult to make people aware of different types of fitness activities other than normal gymming. Currently we are break even as far as gross profit is concerned but we expect to break even completely by end of FY 2016-17.
Many startups in the fitness space have raised funding in recent times. The startup competes with the likes of Fitternity, Fitmein, Gympik, Gymer and Hobbyix.