Nithin Kamath's Rainmatter, others invests Rs 11 crore in a fitness startup Specatom Global

Gurugram-based fitness startup Spectacom Global has raised Rs 11 crore in a pre-Series A round from Rainmatter Health (an initiative led by Zerodha founders Nithin Kamath and Nikhil Kamath).

Spectacom claims that it owns India's only vernacular holistic health & wellness app and getmybib.com, as well as holds a majority stake in The Devils Circuit.

The fitness startup plans to use the raised capital to drive growth by launching additional participative IPs and investing in content development, marketing, and hiring.

Founded in 2020 by Zeba Zaidi and Adnan Adeeb, Spectacom said it aims to grow across 4 key verticals – Events, Health-tech, Ticketing, and Media properties. 

“I believe we will see a lot of growth as well as consolidation in the Health & Wellness space in the next few quarters. A lot of big players who have entered the market and raised funds at high valuations are now pivoting to a business model that aims for break even, if not profit. Our motto on the other hand has always been to build stable businesses with a strong bottom line. With Nithin Kamath on board, given his passion for fitness, we want to revolutionise this space and democratise fitness. We want to especially target Corporate India and to this end, we will be offering BunkerFit to all corporate employees for free,” said Adnan Adeeb.

The BunkerFit app offers modules around training, yoga, mindfulness, and nutrition. Available in English, Hindi, Tamil, and Telugu, it aims to reach the entire Bharat and ensure everyone gets the tools and support they need to improve personal health & wellness.

“We see a lot of depth in what Adnan and Zeba are building. I have always promoted prioritising personal health and I am all for supporting initiatives that can bring about this change at a mass level,” said Nithin Kamath.

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