Bengaluru-based online fitness startup Tread has raised $1.1M from reputable entrepreneurs and angel investors during its maiden round of funding.
The notable investors that 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.
This is the first funding round since the inception of Tread three months ago. The startup will use this capital to fast track its product development and accelerate the growth of its platform and overall business.
Tread is determined to deliver live streamed group workout sessions through its mobile application and website. Leading trainers and fitness experts in India will use Tread’s platforms for showcasing and delivering different types of workouts.
Tread has quickly built a thriving online fitness community on social media channels. On YouTube, it has 1.1M subscribers, while the Instagram page already has 500k followers.
In the official statement, the founder and CEO of Tread said, “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.”