Fitness community platform Fittr bags $11.5M in Series A funding
Fittr, a digital fitness and nutrition community platform based in India, has scored $11.5 million in a Series A funding round co-led by Dream Sports’ venture capital firm Dream Capital and LA Dodgers’ private investment arm Elysian Park Ventures.
WHAT IT DOES
Fittr started as a small WhatsApp group that trained and helped people to get fit. Turned into a mobile app in 2016, it now offers free access to a host of diet and training tools and a community of fitness enthusiasts and experts.
For a small premium, users can also receive personalised guidance, customised plans and weekly follow-ups from over 500 certified coaches on the platform. The app has a corporate package that is now being used by around 200,000 clients.
Available on both iOS and Android devices, Fittr has over 2.5 million members worldwide at present.
WHY IT MATTERS
Fittr will use its fresh capital to further expand in its new markets, namely North America, the UK and Singapore, which now accounts for 30% of its overall revenue.
Indian fitness apps have recently turned global to tap into the market that can potentially reach $15.5 billion in value by 2028.
A notable player is Curefit, which recently obtained $75 million from Tata Digital, a subsidiary of Tata Sons. Since its inception in 2016, the company has raised a total of $480 million in investment. Last year in July, it made its official entry into the US market.
Another fitness platform, HealthifyMe, netted $75 million in a Series C investing round in July, bringing its total investments raised to over $100 million. It harnesses AI to provide subscription-based health and fitness services to over 25 million users across India. With its fresh capital, the company is now taking its expansion worldwide, targeting Southeast Asia and North America.
ON THE RECORD
“Fittr has always been committed to democratising fitness and raising awareness around physical, mental and emotional well-being. The investment raised will assist us to make strategic headways in achieving this goal,” said Fittr Founder and CEO Jitendra Chouksey.