Move-to-earn startup Fitmint raised seed funding of $1.6 million led by venture capital firm General Catalyst, with participation from iSeed, Kearny Jackson, Dweb3, and 1947 Rise, among others.
The Bengaluru-based firm makes a web3 app where users can earn rewards in cryptocurrency for walking, running or working out. Fitmint said it would use the money to expand its employee base and for marketing and tech infrastructure.
Rohit Sharma, co-founder and CEO said, “We at Fitmint are happy and glad to receive our first-ever seed funding, which is going to play a massive role in driving and bolstering our mission and vision to create a world where billions of people get fit every day while being onboarded to the web3 fitness arena in a frictionless manner.”
Viren Baid, co-founder, added, “We at Fitmint aim to nudge people to adopt a healthy and active lifestyle alongside aligning them with the wonders of web3. The current fundraising round is a momentous milestone in the same direction. We are linking a person’s essential daily activity to web3, enabling us to bring mass adoption to web3 in the most frictionless manner.”
“It is no secret that some of the fastest-growing software companies today are being built globally, including out of India,” said Anand Chandrasekaran, partner, General Catalyst. He added, “This ‘built-in India for the world’ theme, focused on high-quality products built by some of the most ambitious founders, has a growing set of believers. We believe that web3/Crypto will increasingly be one of the categories which these founders will choose to build in”.
