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Fitness & Wellness

PV Sindhu invests in Hoop, joins as brand ambassador

Sindhu's amount of equity investment in Hoop has not been disclosed.

PV Sindhu invests in Hoop, joins as brand ambassador
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Two-time Olympic medallist PV Sindhu with the Hoop team (Photo Credit: Outlook Business)

By

The Bridge Desk

Updated: 3 July 2024 10:21 AM GMT

Star Indian shuttler and two-time Olympic medallist PV Sindhu invested in health and wellness start-up Hoop, a company founded by Twinkle Uppal and Saharsh Agarwal.

However, the amount of the equity investment is undisclosed.

Alongside the financial backing, Sindhu will represent Hoop as its brand ambassador, spearheading all digital and marketing campaigns.



Speaking to Outlook Business, Hoop's co-founder, Twinkle Uppal, said, "We launched Hoop nine months ago in October 2023. Since then, we have delivered over 50,000 products to 1,000 pin codes across India."

"We have been one of the top sellers in Amazon's wellness category, which has given us great confidence to expand beyond our primary online selling channels," she added.

Hoop aims to venture into quick commerce and e-pharmacies, broadening its market presence. The company has also planned to introduce new products in the pain relief and recovery category.

Uppal emphasised the importance of community building, noting that Hoop is working on creating a community of fitness enthusiasts as part of a broader wellness offering.

Future developments

The funds from Sindhu's investment will be utilised to enhance Hoop's online and offline presence, with Sindhu playing a pivotal role as the face of the brand.

Uppal also hinted at major business developments in the pipeline, revealing that the company is in discussions with potential investors.

"We are excited about the opportunities ahead and look forward to leveraging Sindhu's association with Hoop to achieve our growth objectives," she added.

Early Success

The start-up was one of 12 selected for the Sequoia Spark Fellowship's second cohort, which included a $100,000 equity-free grant and a mentorship program.

"The Sequoia fellowship was a significant milestone for us. It provided not only financial support but also invaluable mentorship," said Uppal.

Following the Sequoia fellowship, Hoop received angel funding from notable investors such as Rohit Kapoor- CEO of Swiggy’s Food Marketplace, Abhinav Sinha- COO of Oyo, Naiyya Saggi- co-founder of Good Glam Group, and Shantanu Deshpande- founder of Bombay Shaving Company.

These early investments have been instrumental in Hoop's growth and success.

Sindhu's investment streak

Sindhu's investment in Hoop comes shortly after her undisclosed investment in the agritech start-up Greenday, where she also took on the role of brand ambassador.

Sindhu's involvement in these ventures highlights her interest in supporting innovative start-ups and leveraging her influence to promote health and wellness.

Hoop's partnership with Sindhu marks a significant milestone in its journey. The start-up's ambitious expansion plans and strong backing from prominent investors set the stage for continued growth and innovation in the health and wellness sector.

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