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Tuesday, February 7, 2023

Press Release

Impact App Raises USD 600K Pre-Seed, Eyeing USD 2.5 Million Seed Funding by End of FY 22-23 with Plans for Global Expansion and Hallmark Innovations
I

Business Wire India

  • Impact Health App raised $600K in their pre-seed round and aims to close $2.5 million by the end of 2022
  • Top investors include Portea’s Ganesh Krishnan, Khatabook’s Ravish Naresh, Hubilo’s Vaibhav Jain, OTO’s Sumit Chazzed
  • Impact is set to introduce a robust product update by adding several features and incentives for their community of changemakers
  • Impact’s unique mission of Move I Give I Earn has built a community of 500K that’s collectively taken over 1 Trillion steps to raise 390 Cr + for 75 non-profits
     

Impact App – India’s most used health app, based out of Mumbai, raised $600K from 50 angels including Portea’s Ganesh Krishnan, Hubilo’s Vaibhav Jain, Khatabook’s Ravish Naresh, OTO’s Sumit Chazzed among many others, in their pre-seed round. Impact has 3 million subscribers pan-India and is set to close another $2.5 million in institutional seed funding by the end of FY 22-23.
 
The app currently clocks an annual recurring revenue of $200K+ and is set to reach $1M in the coming 12-15 months. In the same tenure, Impact plans to build India’s organic community to 10 million. By engaging with a robust community of 1 million+ impact changemakers, Impact aims to build a global base of 100 million users by 2027, with its US corporate wellness offering set to take off. Impact is planning to expand their portfolio of services by adding activities beyond walking like yoga, meditation, cycling, on-click sync with wearables, and gamified features like challenges and duels to increase user engagement. Further innovations will include tracking of mental and physical health to create measurable and intangible incentives for millions of users to stay committed to their health and wellness routine.
 
Brainchild of Ishan Nandkarni, Cofounder and CEO, an IIT Bombay alumnus who was previously a part of Housing.com, and Nikhil Khandelwal Co-founder and Product Head, an IIT Bombay alumina, Impact is on a mission of Move I Give I Earn. Bringing to life the concept of fitness + kindness the app has organically achieved 3 million downloads with over 500K active users who have collectively taken over 1 trillion steps and a 1 billion kms to raise 390 CR+ funding for 75 non-profits to empower the lives of 10 lakh beneficiaries.
 
The app converts the steps taken by users to points that help raise funds through corporate CSR to fund NGOs creating ground impact. Companies achieve goodwill branding by engaging the robust community of changemakers. Users on the app earn rewards from an exclusive in-app ‘Store’ along their journey to better health. Till date Impact has seen over 15000 ‘Teams’ created by users with their friends and family to raise funds for social causes by adding more steps through everyday activities.
 
Ishan Nandkarni, CEO and Co-founder of impact App shares, “The past year has been one of the most pivotal years for us. We have experienced stunning growth as participation from the community of changemakers rose several folds to raise funds for social causes and create a real impact at the very grassroots of society. We were also successful in launching our in-app store with which users can earn exclusive rewards along the course of their journey of fitness plus kindness. Alongside the rising trend of the health-tech industry, we are geared up to give back to our community, more than ever before, with the introduction of new product features and services, rapid expansion plans into the global markets, and more robust innovations.”
 
Impact in association with the SBI Foundation, Alkem Pharma, NMDC, RBL bank, American Red Cross, Siemens, and 30 other marquees, has successfully funded the causes of healthcare, education, livelihood development, women empowerment, hunger, water conservation, sanitation, environment, disaster relief, sports, and child rights, pan-India. Impact plans to keep fuelling its mission of Move I Give I Earn by expanding into foreign markets with the goal to build a robust community worldwide. It is set to triple its team of 20 in the next 12 months to enhance capacity for innovations across technology, products, business, and community satisfaction. 

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