27 December 2022 | News
Eyeing $2.5 million seed funding by end of FY 22-23 with plans for global expansion
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Impact App has 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. The startup 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 $1 million 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.
Mumbai-based startup 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.