Bharti Airtel buys a 10% stake in fitness startup Spectacom

Bharti Airtel buys a 10% stake in fitness startup Spectacom
Photo Credit: VCCircle
13 Mar, 2020

Homegrown telecom company Bharti Airtel has invested an undisclosed sum in Spectacom Global, which owns an eponymous health and fitness platform, for a 10% equity stake.

Post the investment, the Bengaluru headquartered company also joined the Airtel startup accelerator programme, a statement said.

Spectacom is the second startup to join the programme.

Airtel’s accelerator initiative allows startups to leverage its over 300 million customers, data, distribution networks and payments. Last year, the programme invested in Bengaluru-based artificial intelligence (AI) focused job seeking platform Vahan.

Spectacom will disseminate its digital content through Airtel platforms Xstream and Wynk Music, increasing its outreach to small towns and villages.

Founded in 2020 by Adnan Adeeb and Zeba Zaidi, the platform provides fitness content in multiple languages across India. It also has exclusive digital rights for the promotion of brand Devils Circuit, including the new seasons of its popular shows – The College Frenzy and The Corporate Challenge.

“We believe that X Sports, which are all about fitness, aligns beautifully with our brand. Thanks to the deep penetration of mobile internet in India, the potential to grow the adoption of Devils Circuit style X Sports amongst India’s youth is immense,” Adarsh Nair, chief product officer of Bharti Airtel said.