Fittr Community Fitness Platform Wins $ 11.5 Million in Series A Funding
Fittr, an India-based digital fitness and nutrition community platform, scored $ 11.5 million in a Series A funding round co-led by Dream Sports venture capital firm Dream Capital and the LA Dodgers private equity arm, Elysian Park Ventures.
WHAT HE DOES
Fittr started out as a small WhatsApp group that trained and helped people get in shape. Transformed into a mobile application in 2016, it now offers free access to a multitude of nutrition and training tools and to a community of enthusiasts and fitness experts.
For a small premium, users can also receive personalized advice, personalized plans, and weekly follow-ups from over 500 certified coaches on the platform. The app has an enterprise package that is now used by around 200,000 customers.
Available on iOS and Android devices, Fittr currently has over 2.5 million members worldwide.
WHY IS IT IMPORTANT
Fittr will use its new capital to further expand into its new markets, namely North America, the United Kingdom and Singapore, which now represent 30% of its overall revenue.
Indian fitness apps have recently gone global to tap into the market that can potentially reach $ 15.5 billion in value by 2028.
One notable player is Curefit, who 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 investments. Last year, in July, it made its official entry into the US market.
Another fitness platform, HealthifyMe, raised $ 75 million in a Series C investment round in July, bringing the total of its investments raised to over $ 100 million. It harnesses AI to provide subscription health and fitness services to over 25 million users across India. With new capital, the company continues to expand globally, targeting Southeast Asia and North America.
ON THE RECORD
âFittr has always been committed to democratizing fitness and raising awareness of physical, mental and emotional well-being. The investment raised will help us make strategic progress to achieve this goal, âsaid Jitendra Chouksey, Founder and CEO of Fittr.