Mumbai, May 8 (SocialNews.XYZ) In a significant development in the Indian private equity investment space, Stepathlon Lifestyle announced on Friday the successful completion of a capital raise, for an undisclosed amount, from nine marquee investors across India, Australia, USA, UK and Canada.
The financing will be used to fund Stepathlon's continued global expansion into Fan Engagement (B2C) and Corporate Wellness (B2B) segments, for further investment into its proprietary technology platform and hiring key personnel.
The investors including Josh Liberman, scion of one of Australia's most respected HNI families, and Mark Adams, Former Managing Director of IMG Singapore and Senior Vice President of IMG Golf Asia.
Stepathlon is a unique health and wellness platform and program that uses a 'Sports Marketing approach to Wellness' focusing on activation and engagement, both indoor and outdoor, across the three key pillars of wellbeing - movement, nutrition and mental health.
Stepathlon creates a platform that motivates participants to race through 'Virtual World' where real life steps and movement (walking, running, yoga, dance, swimming, cycling, sports and other activities) are combined with gamification (Virtual Race Course), healthy competition and active engagement (contests, challenges and events).
The race provides opportunities to collect relevant first-party data which can help businesses and stakeholders to better understand their audience/community to shape the future.
Ravi Krishnan, Co-founder & Chairman, Stepathlon Lifestyle Pvt. Ltd said: "It's gratifying that in the current environment, we have, with the support of nine investors, closed a round which will provide the company with positive continuity and a chance to make an impact."
"At a time when the world is dealing with the effects of COVID-19, the need for positivity and a focus on health and wellbeing is paramount, making Stepathlon more relevant than ever in the short, medium and long term."
Building on the success of their award winning 2019 Partnership with Manchester City FC via "Tecno Race to Man City", Stepathlon is in active discussions with major corporates, events, leagues, sporting teams, celebrities, festivals at various stages of finalisation.
Founded in 2012, its original mission was to engage employees of corporates, members of communities, institutions etc. via a platform that effectively blends wellness, mass / social participation and 'active' engagement.
Stepathlon's proven platform has worked with 722 companies, engaging over 500,000 participants across 1,010 locations in 65 countries. Moving into B2C via Fan and Community Engagement gives Stepathlon the potential for exponential scale and impact.
On Stepathlon, former CEO of Bacardi Ltd and former Chairman and CEO of IMG, Michael Dolan, who has been associated with Krishnan said: "The completion of the raise, during this difficult time, is testament to both, Ravi's reputation and ability to deliver results for his clients and underscores that the Stepathlon business is more relevant now than ever."
"Their platform offers stakeholders an opportunity to positively connect with their audience/community at a time when engagement and wellness is paramount."
Source: IANS
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