Digital Fitness & Wellness Startup Portl Bags $3 Mn Funding Led by Bharat Innovation Fund

This investment will be used to expand Portl’s product range and grow its customer base in India and overseas.

Digital fitness and wellness technology startup Portl has secured $3 million in funding round led by Bharat Innovation Fund.

Founded in 2021 by Indraneel Gupta, Vishal Chandapeta, and Armaan Kandhari, the Hyderabad-based startup’s flagship offering is the Portl Studio, a digital platform that integrates AI to provide personalized fitness and wellness experiences.

This investment will be used to expand Portl’s product range and grow its customer base in India and overseas.

Speaking on the fundraising, Portl’s founder and CEO Indraneel Gupta said, “By integrating advanced AI and innovative hardware, we aim to empower individuals to achieve their wellness goals seamlessly and effectively, delivering personalized experiences at scale and afford people the opportunity to adopt healthier lifestyles with ease.”

The company uses its proprietary AI personalization engine, which provides users with customized workout plans that adapt to their fitness levels, daily performance and preferences in real-time, the company said.

Portl’s Offerings

Portl’s AI personalization engine tailors workout plans based on users’ fitness levels, daily performance, and preferences in real-time. It is designed to work seamlessly across various hardware platforms, including smartphones, tablets, and smart TVs.

According to Gupta, the funding validates their vision of making health and fitness accessible to everyone, regardless of their location.

Further, by integrating advanced AI, Portl aims to empower individuals to achieve their wellness goals effectively.

Going ahead, Portl intends to increase its product range and expand its customer base both in India and overseas.

“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 personalised fitness regimes, including Yoga, HIIT, Dance etc,” said Ashwin Raguraman, founding partner, Bharat Innovation Fund.

Per data from statistics portal Statista, India’s health and fitness market is expected to grow from $19.24 million in 2022 to $31.97 million by 2027, at an annual growth rate of 11.57%.

Sharing thoughts, Vamshi Reddy, Partner at Kalaari Capital, said, “We are delighted to announce our involvement in Portl’s transformative journey, as they harness the power of AI and strength products to enhance their offerings. With their innovative approach and commitment to excellence, we believe Portl is ideally positioned to become a trailblazer and market leader in this exciting and rapidly evolving space.”

Founded in 2018 as a thematic fund focused on deep-tech innovations in India, Bharat Innovation Fund was launched by three partners: Ashwin Raguraman, Kunal Upadhyay, and Shyam Menon. They were later joined by Sanjay Jain and Som Pal Choudhary.

It aims to create the next phase of startup evolution in India by supporting deep-tech B2B, IP, and innovation-based startups beyond the current wave of consumer-focused e-commerce and marketplace models.