Talwalkars Better Value Fitness has picked up a 51% stake for an undisclosed amount in Chennai based Inshape Health and Fitnez, for an all cash deal, reports the Economic Times. With this, the Mumbai based Talwalkars plans to expand to south India. Additionally, in October, Talwalkars had picked up a 49.5% stake in Sri Lanka’s Power World Gym in an all cash deal and was its first overseas investment.
Inshape was started in 2007 and has 3 branches across Chennai. It offers services such as personal training, Zumba, aerobics, flat abs, physio assessment, diet counseling, physio treatment, one day sauna, passive stretch and diet monitoring ranging from Rs 250 to Rs 7,000 per month.
Earlier this month, Talwalkars picked up a 19% stake in the online fitness and health discovery platform GymTrekker for an undisclosed amount. GymTrekker would use the funds for expanding to Tier II cities and scaling its operations, while Talwalkars would expand its online presence. GymTrekker currently lists Talwalkars’ offerings at the top of its search list.
Other developments in the fitness space:
– In September, Bangalore-based fitness solutions provider Gympik acquired FitnessPapa.
– The same month, FitMeIn, an online platform which provides users memberships of multiple fitness studios in Delhi-NCR, raised $100,000 in seed funding from Green House Ventures.
– In August, Bangalore-based Orobind raised a pre-series A round of funding. The platform would use the funding for launching a new subscription service called Orobind Access.
– In July, Fitness tracker startup GOQii raised an undisclosed amount of funding from Paytm founder and CEO Vijay Shekhar Sharma in his personal capacity.