Mumbai: Fitness startup Stepathlon Lifestyle on Friday said it has raised an undisclosed amount from nine investors across India, Australia, US, UK and Canada.
The investors include Josh Liberman, who leads one of Australia’s reputed family offices and Mark Adams, senior vice president of IMG Golf Asia, the firm said in a release.
The Mumbai-based firm plans to use the funds for global expansion into fan and community engagement (business-to-consumer) and corporate wellness (business-to-business) segments, along with further investment into its proprietary technology platform, and for hiring key personnel.
“At a time when the world is dealing with the effects of Covid-19, the need for positivity and a focus on health and wellbeing is paramount, making Stepathlon more relevant than ever in the short, medium and long term,” said Ravi Krishnan, co-founder and chairman of Stepathlon Lifestyle.
Founded in 2012 by Krishnan and Shane Bilsborough, the firm allows its users to participate in mass participation format activities such as walking, running, yoga, dance, swimming, cycling and sports, by creating real life steps and movements and combining them through gamification or a virtual race course. The firm also collects relevant first-party data from these race events, which can help businesses and stakeholders to better understand their audience/community, the company said.
“Our platform offers a ready, reliable and effective solution to engage, expand, energise and enthuse partners, fans, customers, colleagues and communities. We feel there is both, an obligation and an opportunity for us, and our partners, to ‘wrap our arms around the planet’ demonstrating care for the well-being of people wherever they are; whoever they are; whenever they need i.e. for anyone, anywhere, anytime,” said Krishnan.
So far, the platform has worked with 722 companies, engaging over 500,000 participants across 1,010 locations in 65 countries. The firm said its discussions for collaboration with major corporates, events, leagues, sporting teams, celebrities and festivals, were at various stages of finalisation.