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Funding news

WTF Secures Rs 1.05 Cr in angel investment 

Witness The Fitness (WTF) has secured Rs 1.05 crore in an angel investment round from Mohit Sadaani (The Moms Co.), Deep Bajaj (Sirona), and Naiyya Saggi. It will use the funding to enhance fitness accessibility and quality throughout India, with a specific focus on Tier II and III cities.

Founded in September 2021 by Vishal Nigam, Anita Nigam, and Arpit Nigam, WTF leverages (AI) to introduce a smart lease model to upgrade existing gyms into cutting-edge “WTF Gyms” with a minimal investment of Rs 2-3 lakh. 

“Our Angels’ unwavering belief in our mission propels us forward. Their trust serves as a powerful endorsement of our model and our dedication to making top-tier fitness experiences universally accessible,” says Vishal Nigam, WTF Co-founder and CEO.

Healthtech startup FlexifyMe bags funds from ah! Ventures

Healthtech platform FlexifyMe raised undisclosed funds from ah! VenturesAngel Platform. The startup will use the to advance its AI motion coach, enabling its availability in local languages and extending the platform’s outreach in the MENA and North American regions. The capital infusion will help the company speed up its growth trajectory.

“We’re committed to leveraging technology to improve the lives of millions suffering from chronic pain, and this funding takes us a significant step closer to achieving that goal,” said Manjeet Singh, Co-founder of FlexifyMe. 

To date, ah! Ventures has made 209 investments in 125 startups, bringing its total investment portfolio to Rs 434 crore (~$54 million) with 16 exits and 48 follow-on rounds. In 2023, 55 investments have been made through all three platforms and the fund.

FlexifyMe is backed by Flipkart Ventures GSF, iHub Anubhuti, Chandigarh Angels (CAN), Venture Catalyst, OneCapital, and several other individual investors. The startup has experienced nearly a fivefold growth in the last 12 months, a statement said. 

Other news

EaseMyTrip acquires 13% stake in Eco Hotels and Resorts

Online tech travel platform EaseMyTrip recently acquired a non-controlling stake of around 13% in Eco Hotels and Resorts Limited, a BSE-listed entity. 

The investment aims to secure a minority interest and foster environmentally friendly practices within the hospitality sector. Additionally, all hotels under Eco Hotels’ operation will maintain a carbon net-zero status.

“We are thrilled to announce our association and decision to invest in the stake in Eco Hotels and Resorts Limited. By fostering environmentally conscious initiatives, we aim to shape the future of the travel and hospitality industry positively,” says Nishant Pitti, Co-founder and CEO of EaseMyTrip. 

Both companies are discussing various areas of cooperation. In addition to its hotel operations, Eco Hotels may engage in both air and non-air business activities, primarily serving its customers through the EaseMyTrip platform and its subsidiary companies.

(This article will be updated with the latest news throughout the day.)