Fitness marketplace Gympik lines up Southeast Asia foray in 2020
Bengaluru headquartered Gympik Health Solutions, which runs an online fitness marketplace and offers fitness centers a SaaS solution to manage their operations, is now looking to build a footprint in overseas markets such as Singapore, Philippines and Malaysia.
“With more than 25,000 clubs and 22 million club members across the Southeast Asian region, Gympik aims to take this proven robust platform (marketplace and SaaS) to the region, ” founder and CEO Amaresh Ojha said.
Incorporated in December 2012, as per its filings with Ministry of Corporate Affairs, Gympik currently operates in 40 cities across India. The company currently employs 60 people and will add positions in both technology and non-technology roles in 2020, it said in a statement.
The company was founded by Ojha and Ajay Pandey. Prior to Gympik, Ojha worked was with Bluestone and Intuit. Pandey moved on from the company in August 2015, according to his LinkedIn profile which lists him as a co-founder.
“We have been witnessing demand from Singapore, Philippines, and Malaysia from our platform. In the beta phase, the team learned that the South East Asia market needs a trusted platform to support them in maximising sales, acquire new members, drive repeat purchases and fill last-minute group class spots. This is an important opportunity for us and we look forward to launching in the Southeast region by the summer of 2020,” Ojha added.
The company said that its SaaS solution, Traqade, helps fitness center owners to transition from outdated legacy software to a safe and flexible advanced cloud-based platform. It claims that Traqade-powered fitness centers have been able to increase retention and cut down on operational costs.
The company said that the Indian fitness industry is estimated to grow by 20-30% every year. Therefore, technology-based platforms are now focusing on how to ease out the business challenges faced by fitness service providers.
In India, the company claims over half a million monthly visitors, over 14000 fitness centers and more than 7000 personal trainers and nutritionists listed with it.
In 2017, Gympik raised a Series A round of funding worth $0.88 million from RoundGlass Partners, according to research platform VCCEdge. It raised an undisclosed sum in a seed funding round from RoundGlass Partners, in 2016. It also raised seed funding worth $ 135,000 from Capvent managing partners Tom Clausen and Rohan Ajila, as well as manufacturing firm Haldyn Glass, in 2015.