The award-winning fitness tech startup aims to expand its market share further while utilizing its funds in adding unique features and upgrades
Mumbai, NFAPost: StepSetGo (SSG), the award-winning health & fitness industry disruptor, raised their Seed round from marquee seed investors as part of their plans to add unique features and further increase their market share through a one-of-a-kind offering in the fitness-tech industry.
Founded by Shivjeet Ghatge, Misaal Turakhia, Abhay Pai and Zaheer Khan, the Mumbai-based, StepSetGo, a Huddle accelerated venture with over 9 million users, raised Rs 5 Crores seed funding from 4 renowned investors. The round has seen participation from Huddle, Singapore-based BeyondSeed, along with Dexter Angels and Seeders LLP.
With a deep-rooted ambition to augment their product offering, StepSetGo, which has often been ranked as one of the country’s top applications, is set to strengthen technological capabilities & infrastructure and intensify customer acquisition & growth. The financing will enable StepSetGo to innovate and upgrade customer experience while adding more core fitness solutions and bolstering its footing among lesser receptive markets.
Commenting on the round, StepSetGo CEO and Cofounder Shivjeet Ghatge commented as a young startup built by fitness enthusiasts, the company is incredibly excited with the outcome of its first investment round.
“StepSetGo would like to sincerely thank our users and investors for their faith, trust, and belief in us as a growing entity. This is just the beginning of our journey, and the best is truly yet to come,” said StepSetGo CEO and Cofounder Shivjeet Ghatge.
Huddle Founding Partner Sanil Sachar said the founding team of StepSetGo is built by those who are all deeply rooted in making fitness easy, accessible, and rewarding.
“With a robust technology and marketing background, the founders have built StepSetGo into what is becoming a community that resonates with making fitness fun, and staying healthy a reward at all times. For us, as an accelerator and investor, we’ve loved the passion in how this team has built a product that caters to everyday users whilst being a lucrative offering to brands and organizations that associate and have seen over 110 crores of their products retailed through StepSetGo,” said Huddle Founding Partner Sanil Sachar.
Celebrated Fitness Pioneer and StepSetGo Cofounder Zaheer Khan said he truly believes that the best investment one can make is in their health.
“If you are healthy, nothing seems hefty – neither a task nor a goal! As StepSetGo grows as a product, we will effectively be able to attract more and more users with different fitness interests to compete and motivate each other inside the same ecosystem.” said celebrated Fitness Pioneer and StepSetGo Cofounder Zaheer Khan.
BeyondSeed COO Yuan Jin said he loved the approach StepSetGo has taken in becoming the trend-setter of the fitness industry.
“We are impressed by the hustle, strategic insights, and operational execution capabilities of the founding team and are excited to have joined their journey as the co-lead to this round.” said BeyondSeed COO Yuan Jin.
StepSetGo has come a long way over the last two years, generating sustainable revenue from day one. Since its inception, the company has astoundingly grown from a 4-person team with 50 users to a registered user base of over 9 million users.
The Fitness App’s prime focus is to add more features to deepen fitness and social touchpoints and widen how users will spend their SSG coins (which are earned by the users’ fitness activity on the app) while inspiring new users to join the platform and helping them find the motivation to stick to their fitness regime.
The app’s user-friendliness is best epitomized by its widespread acceptance across operating systems with a rating of 4.2 and 4.8 on the Google Play and App Store, respectively.
India’s fastest-growing fitness startup was founded with the sole intention of making people fitter by encouraging them to be physically active, bringing about a widespread lifestyle change throughout the nation. Established in 2019 by CEO – Shivjeet Ghatge, CPO – Misaal Turakhia, and CTO – Abhay Pai, and Co-Founder – Zaheer Khan, StepSetGo is India’s first fitness platform that encourages users to walk more while being rewarded for their efforts.
The platform is entirely free and considers the number of steps one has walked over the day, tracks calories burnt, measures kilometers walked, and rewards users with SSG coins that can be collected over time to claim exclusive products and discounts from the in-app Bazaar.
StepSetGo also emerged as a winner at the Digital India AatmaNirbhar Bharat App Innovation Challenge organized by the Government of India. Initiated by Prime Minister Narendra Modi, this app innovation challenge witnessed the participation of over 6,940 tech entrepreneurs and startups nationwide. StepSetGo was the winner in the health & fitness category and was lauded by Mr. Modi during his Mann Ki Baat address.