SUMMARY
SaaS startup FitBudd has secured $3.4 Mn in a seed funding round from Accel India, Beenext, Sequoia Capital India and Waveform Ventures
FitBudd has used the funds for product development, accelerating client base and foray into the international health and fitness market
FitBudd claims that hundreds of coaches across 20 countries have used its platform to offer a healthier lifestyle to tens of thousands of people
SaaS startup FitBudd has secured $3.4 Mn in its seed funding round. The round saw participation from Accel India, Beenext, Sequoia Capital India and Waveform Ventures.
FitBudd has used the funds for product development, accelerating client base and foray into the international health and fitness space.
“There is a clear shift in $47 Bn fitness and wellness industry of solopreneurs breaking away from institutions and building their own digital and hybrid businesses. Fitbudd is accelerating the success of these solopreneurs while providing personalization at scale for end-users. The startup is carving out a new realm of digital services,” said Manasi Shah, investor and vice president of Accel.
Founded in 2021 by IIT graduates Saumya Mittal, Pranav Chaturvedi, and Naman Singhal, FitBudd helps fitness coaches engage better with their customer base and also, retain their clientele.
In addition, it allows coaches to become more accessible to their clientele globally and also, expand their business across the globe. Its offerings include CRM, payments, advanced tracking and analytics, interactive chat, and video calling capabilities.
FitBudd said that over 600 Mn people across the globe use fitness apps or take gym memberships. Of this, over 70% of people engage with personal fitness coaches when they are not unable to get results through gym and fitness apps.
“While personal coaching has been established as a proven method for long-term fitness, it has been inaccessible for the vast majority of the population due to cost. With FitBudd, we aim to democratize personal coaching by making it available at 1/5th the cost,” said, Saumya Mittal, cofounder and CEO, FitBudd.
FitBudd claims that over a year, hundreds of coaches across 20 countries have used its platform to offer a healthier lifestyle to tens of thousands of people.
According to the startup, FitBudd was earlier part of the first cohort of Atoms, an accelerator program of Accel India.
Suki.ai, Innovaccer and Carestack are some of the health-based SaaS startups operating in India.
According to an Inc42 report, the Indian healthcare SaaS is likely to become a $3.5 Bn by 2025. The industry will expand at a CAGR of 45% in the next three years.
