Practo acquires fitness tech startup FitHo for unknown amount
BENGALURU: Acquisition season seems to have begun in the Indian market. Reports suggest that Practo, a Bengaluru based web service for setting up appointments with doctors has bought a New Delhi-based fitness tech startup FitHo. Practo bosses are of the opinion that FitHo will provide its users tailor-made diet and exercise plans to millions and millions of people across the world.
Though a huge amount of money must have changed hands in the process, but Practo bosses have refused to divulge details. Shashank ND, 27-year-old founder and CEO of Practo refused to let the media as to how much he paid for acquiring the useful app.
Nonetheless he said that his company has enough money to buy not just one app, but many more apps. Reports suggest that Practo had raised as much as $30 million through investment from venture capital firms Sequoia Capital and Matrix Partners.
While talking about the development Shashank said, â€œThis is the first of several acquisitions we are exploringâ€¦The FitHo team brings on-board enormous talent and expertise to help us tap into the preventive segmentâ€.
In the meantime Dhruv Gupta, the founder of FitHo and who graduated from the University of Michigan says, â€œWe find a great cultural fit with Practo where the discussions have been very collaborative about building great products and businesses togetherâ€.