In a significant boost to the digital fitness and wellness sector, Hyderabad-based startup Portl has successfully raised $3 million in a funding round led by Bharat Innovation Fund. The round also saw participation from T-Hub Foundation and existing investor Kalaari Capital. This latest infusion of capital is poised to accelerate Portl’s product development, market expansion, and enhancement of its cutting-edge artificial intelligence (AI) systems.
Most About “Portl”
Founded in 2021 by Indraneel Gupta, Vishal Chandapeta, and Armaan Kandhari, Portl has quickly emerged as a key player in the fitness tech industry. The startup specializes in smart mirrors, branded as Portl Studio, which are equipped with a plethora of advanced features aimed at revolutionizing home and commercial fitness experiences.
The Portl Studio is a 43-inch 4K screen embedded with bio-sensors, high-definition cameras, and edge-AI processing capabilities. This innovative device not only provides real-time form feedback and health monitoring but also integrates telemedicine functionalities.
Retailing at Rs 1,25,000 (exclusive of taxes), the Portl Studio functions as an all-in-one personal trainer. It supports multiple users and offers a variety of personalized workout regimes including high-intensity interval training (HIIT), strength training, endurance, self-defense, cardio, dance fitness, yoga, meditation, and pain management. This versatility makes it an attractive option for direct customers as well as businesses like hotels and gyms.
Portl’s revenue model also includes a subscription service. While the purchase of a Portl Studio includes a three-month subscription, subsequent use requires a monthly fee ranging from Rs 500 to 750. This subscription model not only enhances customer retention but also provides ongoing support and updates to the users.
Why Funding?
The latest funding round is a testament to Portl’s potential and the growing interest in the home fitness market. The $3 million investment will enable the startup to broaden its product range, with plans to introduce connected strength systems tailored for all fitness levels. These new systems will feature adjustable digital weight technology and multiple training modes, enhancing the home-based strength training experience.
“We are thrilled to receive this support from Bharat Innovation Fund, T-Hub Foundation, and Kalaari Capital,” said Indraneel Gupta, founder and CEO of Portl. “By integrating advanced AI and innovative hardware, we aim to empower individuals to achieve their wellness goals seamlessly and effectively. Our goal is to deliver personalized experiences at scale and afford people the opportunity to adopt healthier lifestyles with ease.”
Ashwin Raguraman, founding partner at Bharat Innovation Fund, expressed excitement about the investment. “Despite its drop-off from the peaks in 2021, the home fitness segment continues to excite us. Portl’s advanced AI technology provides form feedback across a variety of personalized fitness regimes, including yoga, HIIT, and dance. We believe in the transformative potential of Portl’s technology to enhance personal wellness.”
Early Stage
The startup’s journey began with an initial $1 million investment from Kalaari Capital in 2021, which helped lay the foundation for its innovative products. With the additional $3 million, Portl is well-positioned to expand its customer base across India and explore overseas markets, bringing its state-of-the-art fitness solutions to a global audience.
The fitness landscape has seen significant changes in recent years, particularly with the surge in demand for home-based solutions during the pandemic. Portl’s smart mirrors cater to this demand by offering a comprehensive and interactive fitness experience. The integration of bio-sensors and AI not only personalizes workouts but also ensures that users maintain proper form, thereby reducing the risk of injury and maximizing the effectiveness of each session.
Portl “Conclusion”
As Portl continues to innovate and expand, it remains committed to its mission of making high-quality fitness and wellness accessible to everyone. With the backing of prominent investors and a clear vision for the future, Portl is set to make significant strides in the digital fitness industry, empowering more individuals to lead healthier lives.
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