Weight-loss startup Obino acquires fitness app Fitard
Mumbai-based Manna Healthcare Pvt. Ltd, which runs weight loss coaching app Obino, has acquired Fitard, a reward-based fitness tracking app, it said in a statement.
It did not disclose the deal value.
The fitness app rewards users with Fitcoins, a virtual currency, on completion of targets. These Fitcoins can be used as discount coupons later.
Fitard Technology Pvt. Ltd that runs Fitard was founded by Pankaj Bora and Shubham Goyal. Prior to starting up, Bora worked as senior software developer at food-tech startup TinyOwl, while Goyal worked with grocery delivery app MovinCart and Suez Environment.
"The philosophy of Fitard is in line with our own, of owning the health and weight loss journey, right from providing not just the tools and the expertise but also motivation," said Ritu Srivastava, co-founder of Obino.
Obino was founded by Srivastava and Yogesh Sachdeva in August 2014.
Prior to starting Obino, Srivastava held brand marketing positions at Bharti Airtel and Radio Today Broadcasting, while Sachdeva was part of the IT divisions at Aircel and Bharti Airtel.
The Obino app provides one-on-one virtual coaching via calls and chat with experts. Its features also include custom-designed fitness and real-time analysis of users' daily nutritional intake.
The app is available for Android and iOS handsets. The company claims to have nearly five lakh users across the world.
In January last year, Obino raised funding from US-based VC firm RoundGlass Partners. In 2014, it raised an undisclosed amount in seed funding from healthcare incubator HealthStart.
Obino competes with startups such as HealthifyMe, Healthians and LiveNutriFit.
HealthifyMe raised $1 million (Rs 6.7 crore then) from Dubai-based investor Neelesh Bhatnagar in December last year.
In October 2016, wellness startup Healthians raised $3 million (Rs 20 crore) in a Series A round led by venture capital fund Beenext. Japanese Internet firm Digital Garage and Japanese e-commerce and investment firm Beenos, among others, also participated in the round.
Prior to that, LiveNutriFit that provides weight loss-related coaching raised an undisclosed amount in seed funding from Omaxe CEO Mohit Goel, Magppie Retail MD Vinod Jain and a clutch of angel investors.