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Deal Update: US-based Joyance Partners Invests in Oga Fit
US-based venture capital firm, Joyance Partners, funded Oga Fit in their first India Investment. Bengaluru-based fitness tech startup Oga Fit is an interactive platform offering live and on-demand workouts from the comfort of a user’s home.
Ahlawat & Associates acted as the legal counsel for Joyance Partners on this transaction wherein the Firm conducted due diligence and negotiated transaction documents. The transaction was led by Managing Partner Uday Singh Ahlawat, along with Senior Associate Disha Toshniwal and Company Secretaries Gitika Kohli and Shweta Singh. Joyance Partners, since their inception, have invested in more than eighty companies with deeper domain expertise in bioscience, neuroscience, food science and virtual reality (VR)/augmented reality (AR).
Mike Edelhart, managing partner, Joyance Partners, said “We entered the Indian market with Oga Fit because it is world-market ready from day one. We are happy to support Oga Fit in their journey towards becoming a global fitness powerhouse.”
Discussing the investment Ashish Rawat, founder, Oga Fit says, "We are very happy to raise this funding round from a VC fund with the underlying objective of supporting startups that deliver health and happiness. Oga Fit gives you fitness on your terms and makes working out fun and accessible for everyone through its interactive tech. Our growth expectations for the year include a launch in the US market and a worldwide user base of around 100,000 over the next six months."
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