Impact App, a popular Indian health and wellness mobile app, has raised $600,000 in pre-seed funding to promote “fitness kindness.”
Initiated in 2016, Impact allows its users to contribute to charitable causes simply by walking. The app converts users’ steps into points. It works with various companies to convert the points into real-life money to donate to charity organizations.
Users have the freedom to choose which charity program to donate to. Meanwhile, companies working with Impact can benefit from goodwill branding.
This year, Impact has reached more than three million organic downloads. Over 500,000 Impact users have accumulated over one trillion steps and around one billion kilometers. So far, Impact has raised funding from over 390 CSR programs to support 75 non-profit organizations. According to Impact, it has helped 10 million people with the help of its users.
CEO and co-founder Ishan Nandkarni — a former business strategist at Housing.com — said Impact had grown significantly in 2022, with thousands of new users downloading the app. He attributed the success to Impact’s newly launched in-app store, which allows users to reap the rewards from their physical activities.
Fifty angel investors participated in the capital raising, including Portea’s Ganesh Krishnan and Khatabook’s Ravish Naresh. The health app is expected to complete a $2.5 million seed funding by the end of 2023. The company plans to expand its outreach and introduce more innovations with the fund.
“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,” Nandkarni said.
Impact aims to launch its app for the U.S. market sometime in the future. By 2027, the company expects to amass 100 million global users. In addition, Impact will feature other physical activities, like meditation and cycling and sync them with wearables. The app developer also plans to introduce gamified features where users can complete challenges to earn rewards.
