Bengaluru-based fitness startup Oga on Wednesday announced that it has raised $330,000 from Inflection Point Ventures (IP Ventures). Oga will be using the freshly raised capital for product development and for on-boarding other fitness companies and influencers on its platform.
Founded in 2017, Oga is a responsive platform offering interactive and on-demand workouts to its users. SARVA, one of the world’s most promising yoga and wellness start-ups with around 91 brick-and-mortar studios spread across Mumbai, Delhi and Bengaluru, is targeting 500 studios across 15 cities by 2022. Further, it has partnered with David Lloyd Leisure Clubs, one of the leading fitness clubs in Europe, to train their instructors in yoga and mindfulness.
The wellness startup has raised money from Bill Roedy, former chairman and chief executive of MTV Networks International, Mark Mastrov, founder of 24 Hour Fitness Worldwide, David Giampaolo, CEO of Pi Capital, Zumba Fitness, Jennifer Lopez – Global Entertainment Superstar, Alex Rodriguez – Baseball Legend, Founder A-Rod Corp, Malaika Arora – Bollywood Diva, Co-founder The Diva Yoga, Bollywood star Shahid Kapoor and his wife Mira Kapoor, and Aishwarya R Dhanush, Director, India’s goodwill ambassador for UN Women organization as investors.
Founder Ashish Rawat stated: “It is a special relationship since IP Ventures, with a vast network of industry leaders on its platform, is much more than an investment firm for us. We are very excited to be partnering with them in revolutionising the fitness industry.”
Oga’s proprietary motion comparison technology tracks and compares 18 joints of the human body to generate real-time feedback on user movements (yoga asanas, dance steps, fitness exercises etc). The system acts as a personal trainer bringing in all the elements of an in-studio workout experience without any setup costs or any special equipment.
IP Ventures was founded in 2017 by a set of CFOs and finance professionals to help startup founders with not just capital but by also playing an active role in the growth of its portfolio companies.
Recently, in December 2019, safety tech startup DROR has raised an undisclosed amount of funding from IP Ventures. IP Ventures has also previously invested in fintech startup Vested and Kolkata-based social health enterprise iKure.
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