Fittr, a digital fitness and nutrition community platform based in India, has raised $ 11.5 million in a Series A financing jointly organized by Dream Sports ‘venture capital firm Dream Capital and LA Dodgers’ private investment arm Elysian Park Ventures is headed.
WHAT IT DOES
Fittr started out as a small WhatsApp group that trained people and helped them get fit. Converted to a mobile app in 2016, it now offers free access to a wide variety of diet and exercise tools and a community of fitness enthusiasts and experts.
For a small premium, users can also receive personalized instructions, tailor-made plans and weekly follow-ups from over 500 certified coaches on the platform. The app has a corporate package that is now used by around 200,000 customers.
Fittr is available on both iOS and Android devices and currently has over 2.5 million members worldwide.
WHY IT IS IMPORTANT
Fittr will use its fresh capital to expand further in its new markets, namely North America, the UK and Singapore, which now represent 30% of total sales.
MARKET SNAPSHOT
Indian fitness apps have emerged globally lately to tap into the market, potentially Reach $ 15.5 billion by 2028.
One notable player is Curefit, which was recently received $ 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 investments. The official market entry in the USA took place in July of last year.
Another fitness platform HealthifyMe raised $ 75 million in a Series C investment round in July, bringing its total investments to over $ 100 million. It uses AI to deliver subscription-based health and fitness services to over 25 million users across India. With fresh capital, the company is now expanding worldwide towards Southeast Asia and North America.
ON THE RECORD
“Fittr has always been committed to the democratization of fitness and awareness of physical, mental and emotional well-being. The investments made will help us make strategic progress towards this goal, ”said Fittr Founder and CEO Jitendra Chouksey.
