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Fitness startup Portl raises $3 million from Bharat Innovation Fund, Kalaari Capital, T-Hub Foundation – SME News

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Fitness and wellness startup Portl has raised a $3 million funding round led by Bharat Innovation Fund with participation from existing investor Kalaari Capital and new investor T-Hub Foundation, the company announced on Thursday. Portl said it would deploy the capital to accelerate the company’s product development, expand into the market, and improve its AI systems.

Established in March 2021 by Indraneel Gupta, Vishal Chandapeta, and Aramaan Kandhari, Portl offers an interactive fitness screen with a high-resolution multi-touch LCD display that enables real-time form correction and customized workouts apart from on-demand and live workouts.

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.”

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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.

“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.

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 per cent, as per data from statistics portal Statista.

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.”

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