FMCG company Marico has picked up 22.5% stake in fitness app Revofit (Revolutionary Fitness Private Limited) against a strategic investment of an undisclosed amount.
Launched by entrepreneur and wellness professional Sunjay Ghai, Revofit is a health platform that allows users to track and manage their nutritional intake, provides guided work-outs with fitness trainers and showcases easy-to-cook recipes for a healthy lifestyle. The platform also has a curated marketplace of authentic wellness products, fitness equipment and apparels.
Following the fresh capital infusion from Marico, Revofit plans to increase its footprint in the wellness space, expand its cloud kitchen infrastructure and launch a slew of digital applications in the fitness and wellness space. The company also plans to introduce a range of FMCG products under the brand.
Marico’s other investments: Last year in March, the FMCG company picked up a 45% stake in Zed Lifestyle which owns Beardo, a men’s grooming brand that sells its products through a mix of both offline and online channels.
Healthtech is a densely populated sector for startups in India. There is a wide range of health and wellness apps on app stores providing offline as well as online services. Revofit competes with the likes of Curefit, HealthifyMe, Fitcircle, Grow Fit , Fitpass, Gympik , Fitternity- to name a few.