Fitmint, a web3 based ‘Move-to-Earn’ start-up, completes initial US$1.6 million fundraising led by General Catalyst

Posted On: June 30, 2022

Classes at: Business, Science and Technology
Topics : Financial Agreements, Venture Capital

BENGALURU, India, June 30, 2022 /PRNewswire/ — For his first fundraiser, ‘Move-to-Get’ start-upBengaluru Base fit(a web3 app that allows users to earn cryptocurrency rewards just by walking, running, or exercising) announced that it is increasing the number of US$1.6 millionwith several venture capital firms and institutional investors. This first fundraiser was led by world-renowned venture capital firm General Catalyst, and he also noted the participation of i sow, Kearny JacksonDweb3 and 1947 Rise, among others.

Fitmint, Web-Based 'Move-to-Earn' Startup, Raises US$1.6 Million in Seed Funding Round Led by General Catalyst

Fitmint will use this amount to recruit and develop its team, for marketing, and for technology infrastructure optimization. The start-up aims to generate US$12-15 million in revenue by the end of the current fiscal year, which is the 2022-2023 fiscal year. With more than 100,000 Twitter and Discord members from over 50 countries around the world, 85 percent of its users join the app and burn calories every day.

Regarding fundraising, Rohit SharmaCo-founder and CEO of Fitmint said: We at Fitmint are excited and excited to receive our first seed funding, which will play a major role in driving and strengthening our mission and vision to create a world where billions of people get fit. every day while seamlessly integrating into web3 sports.

Viren BaidCo-founder of Fitmint, added: At Fitmint, we strive to inspire people to adopt healthy and active lifestyles while integrating them into the amazing world of web3; and ongoing fundraising is an important step in this direction. We connect people’s daily essentials to the web3, allowing us to expand web3 adoption in the smoothest possible way. With Fitmint, the fitness revolution has just begun and is expected to grow even further in the future.

It’s no secret that today’s fastest growing software companies come from all over the world, including India, said Anand Chandrasekaranpartner at General Catalyst. The theme ‘made in India to go the world’, which is about high quality products made by the most ambitious founders, is gaining increasing popularity. We believe that the web3/Crypto category is destined to be one of those categories in which these founders will choose to thrive.

Connection:Website,Dispute,Twitter

Media contact:
Viren Baid
[email protected]

Photo:https://mma.prnewswire.com/media/1850240/Fitmint_Web3_funding.jpg

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