Flexifyme Secures $2.56M in Funding After Shark Tank India Success

Flexifyme on Shark Tank

Three points you will get to know in this article:

  • Flexifyme offers live yoga, meditation, and nutrition coaching by Amit Bhayani.
  • Flexifyme raised $2.56 million in funding from Namita Thapar and Amit Jain.
  • Flexifyme valuation rose 40% to ₹40 crore post-Shark Tank investment.

Shark Tank India Featured Flexifyme

Flexifyme logo

Flexifyme is an online platform that provides live yoga, meditation, and nutrition coaching services. The platform offers one-on-one online coaching to help people improve their physical, mental, and spiritual health. It also provides personalized nutrition programs. Flexifyme offers video-based guided yoga and meditation training sessions. Additionally, Flexifyme operates in the business-to-consumer (B2C) space of the HealthTech market segments.

Amit Bhayani : Founder of Flexifyme

Amit is a very successful engineer and businessman. He has created important new open-source technologies that have been adopted by major companies like Google and Nokia. His work has been very impressive – his company was acquired for $350 million by RedHat, and his other company Telestax has also become very successful and widespread. In addition to his work in technology, Amit also co-founded a company called FlexifyMe. This company came from Amit’s personal experience with chronic pain, as well as his deep research into human anatomy and the ancient practice of yoga.

Flexifyme at Shark Tank India

The founder of the car company CarDekho, Amit Jain, and the executive director of Emcure Pharmaceuticals, Namita Thapar, have invested in FlexifyMe. They have contributed a total of ₹1 crore to the company, with ₹50 lakh as equity investment and the remaining ₹50 lakh  as debt financing.

FlexifyMe is gaining attention after appearing on the TV show Shark Tank India Season 3.  On the show, the company impressed the respected panel of investors with their vision and mission. As a result, investors Namita Thapar and Amit Jain decided to invest the ₹1 crore in FlexifyMe. This investment has significantly increased FlexifyMe’s overall valuation to an impressive ₹40 crore, which is a 40% increase. This represents an important milestone in the company’s growth trajectory.

Funding Flexifyme Raised Till Date

Flexifyme has secured a total of $2.56 million in funding through five rounds. The first funding round took place on May 11, 2022, while the most recent round was a Conventional Debt round on March 15, 2024, raising $60.3K. One investor, Namita Thapar, participated in the latest funding round.

Investors in Flexifyme

Flexifyme has secured investments from 15 institutional investors, including Flipkart, IvyCap Ventures, and ah! Ventures. IvyCap Ventures stands out as the largest institutional investor in Flexifyme. Additionally, Namita Thapar and four other individuals serve as Angel Investors for Flexifyme.

Competitive landscape of Flexifyme

  • Flexifyme has a total of 272 competitors, and it ranks 9th among them.
  • Out of Flexifyme’s competitors, 21 of them are funded companies, while 3 have already been acquired or have exited the market. This suggests the industry is quite competitive, with many funded startups vying for a share of the market.
  • In total, Flexifyme and its 272 competitors have raised over $1.18 billion in funding across 56 funding rounds, involving 254 different investors.
  • There is 1 private “unicorn” company (a startup valued at over $1 billion) and 3 acquired companies in the entire competition set.

Flexifyme's Top Competitors

  • Curefit: A provider of digital and offline fitness services, ranked 1st overall. It has raised $665 million in 14 funding rounds and is considered a “unicorn” company.
  • EGYM: A provider of smart exercise equipment and mobile apps, ranked 2nd overall. It has raised $380 million in 7 funding rounds and is considered a “soonicorn” (soon-to-be unicorn).
  • CoachUp: An online marketplace for private sports and fitness coaches, ranked 3rd overall. It has raised $10.9 million in 4 funding rounds.

Current Shareholders of Flexifyme

Shark Tank India has become a game-changer for the startup ecosystem, offering a unique opportunity for entrepreneurs to receive financial backing and strategic advice from some of the country’s most successful business leaders.

Aspiring entrepreneurs from across India come to Shark Tank India to present their innovative ideas and business models, hoping to secure the investment needed to take their startups to the next level.

Neha Kamath

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