Mohali-based weight loss platform Fitelo made waves on Shark Tank India Season 4, Episode 43, securing an investment deal that promises to propel its growth in the health and wellness sector.
Founded in 2016 by Sahil Bansal and Mahakdeep Singh, Fitelo focuses on helping customers achieve a healthy and fit lifestyle through a comprehensive approach to diet, exercise, and the psychological aspects of obesity.
The company aims to contribute to making India obesity-free through innovative healthtech and wellness solutions.
The founders sought ₹1.5 crore for 0.5% equity, valuing their company at ₹300 crore.
Their pitch resonated with the investors, leading to a competitive negotiation. Unlike traditional fitness apps that primarily focus on diet plans or workout routines, Fitelo incorporates personalized meal plans, fitness programs, and lifestyle coaching, all tailored to an individual’s unique needs.
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During their pitch, the founders highlighted how their technology not only provides customized diet plans but also allows users to choose from various exercise options based on their preferences, whether it’s Bhangra, gym workouts, or home exercises.
Anupam Mittal inquired about Fitelo’s financials, and the founders revealed ₹110-120 crore in revenue but admitted they were still working toward profitability.
Kunal Bahl shared his childhood struggles with bullying over his weight, being called “Mota” instead of his name, sparking a discussion on body shaming.
Namita Thapar also opened up about being called “Moti” as a child, which impacted her self-esteem and led to emotional eating.
Vineeta Singh and Namita Thapar, moved by both the pitch and the emotional discussions, saw Fitelo’s business potential and its positive social impact.
They decided to invest, offering a deal of ₹1.5 crore for 1% equity, along with 1% royalty until ₹1.5 crore is recovered.
