· SQUATS has driven over 70,000 fitness transformations to its credit and generated cumulative revenues worth $ 8.5 Mn FY 2016-19
· The investment is influenced by the bootstrapped company’s high growth and profitable business operations
· Targets to make 50 Million people fit and create 1 Million jobs in the fitness industry
by Prashant Kapadia/NHN
Mumbai, 10 May, 2019: In a major development that underlines its impressive growth trajectory, Pune-based online fitness community SQUATS has recently secured an undisclosed investment from Bollywood actor, producer, and entrepreneur Suniel Shetty. The investment will enhance its underlying technological framework, strengthen its team, and expand its pan-India operations. With this investment, both SQUATS and its now strategic stakeholder, Suniel, have pledged to initiate a movement in the lifestyle of Indians from curative to preventive health care. This will further power former’s long-term vision of making 50 million people fit and also enable the company to create one lakh jobs in the fitness space.
What makes the investment particularly noteworthy is SQUATS’ differentiated and result-oriented approach, which has helped it achieve exponential organic growth and profitability. Since its inception, the platform has driven more than 70,000 paid fitness transformations and has built a strong, highly-engaged online community of 5,00,000 members. Moreover, SQUATS has generated cumulative revenues worth $ 8.5 Mn– all without any external funding or marketing / advertising.
Commenting on its maiden investment, SQUATS Founder Jitendra Chouksey, said, “Suniel Shetty has continuously set new benchmarks in his acting career, business and fitness. His success across domains is driven by the clarity of his vision. Even at 58, he is fitter than most people in their mid-20s. This coming together of mutual synergies is testament to the strength of the SQUATS’ result-oriented approach to fitness. We are confident that, with Mr.Shetty on board SQUATS will be able to attract and transform the lives of more people in the country.
Suniel Shetty said, “My career as a Bollywood actor aside, staying fit and active is a choice that I consciously made since my teens. I have always believed in keeping it natural. However, in today’s time, when all kinds of false information about fitness is common, there is a critical need for companies like SQUATS, which address the issues of trust and credibility in the Indian fitness space, focusing on ‘balancing quantified nutrition with weight training’ and delivering exceptional results. I truly believe in the vision and approach of its founding team, and its future growth potential as India’s preferred fitness brand. With this collaboration, together with SQUATS I pledge to make India fitter.”
Bringing a renowned celebrity and fitness influencer such as Suniel Shetty on board marks yet another milestone for SQUATS, which has created a highly-engaged community, where members motivate each other to become fit and healthy. Through FITTR, its mobile app, SQUATS is empowering aspiring fitness enthusiasts with the right health and fitness knowledge, as well as addressing misinformation or quick-fix solutions. With the investment, SQUATS is right on path to making India fitter and creating meaningful jobs in the fitness eco-system.
About SQUATS :SQUATS, the largest online fitness community, has recorded over 70,000 fitness transformations and continues to do so for its highly-engaged community of 5,00,000 members who support each other’s goals and inspire those around them. Its FITTR app has received more than over 2,00,000 downloads since September 2018, thus furthering its vision of impacting lives by providing people with the professional knowledge they need to achieve their fitness and health goals. SQUATS has been profitable since its inception and has recently secured strategic investment from Suniel Shetty, one of India’s top fitness icons.
Headquartered in Pune, SQUATS was launched in January 2016 as a community on Facebook to address the challenges in the fitness industry where misinformation, distrust, unsatisfactory results, quick-fix solutions, and fad diets are ruining the industry’s reputation. The platform, with its focus on preventive health, implements a distinctive approach in helping its members adopt a healthy lifestyle. It provides them with everything from the right knowledge to community support, mentorship and guidance by its team of 170+ consultants at each and every step.