Fittr Raises $3.5 Mn From Zerodha’s Rainmatter To Scale Up Its Fitness Playbook

SUMMARY

With this latest investment, Fittr has raised $17 Mn in total equity funding till date

In 2021, Fittr secured around $11 Mn in funding from Elysian Park, Peak XV's seed fund Surge, and other investors

Fittr’s long-term goal is to make 50 Mn people fit, create career opportunities in fitness, and become a leading global platform for coaching

Pune-based fitness startup Fittr has secured funding of INR 28 Cr (around $3.5 Mn) from Zerodha’s investment arm Rainmatter.

With this investment, the startup will also get access to the entire ecosystem of health and wellness startups backed by Zerodha.

Fittr was started by Jitendra Chouksey as a WhatsApp group in 2014 to promote health. Eventually, it became a Facebook group and today the platform leverages technology and human coaches that help over 3 Mn people with their nutrition and fitness needs.

Fittr boasts over 250,000 monthly active users and has surpassed 5 Mn app downloads. It aims to make 50 Mn people fit, create career opportunities in fitness and become a leading global platform for coaching.

The fitness startup has recently reported profits on a quarter level and has an annual recurring revenue run rate of INR 120 Cr.

“Once we clock profits year-on-year, we may eventually plan a public listing. That is my ultimate aim, but I want to build a sustainable profitable business before that,” Chouksey said in a statement.

“The primary focus for the next year or two is to generate effective employment for more than a thousand fitness and nutrition coaches,” he added.

In 2021, Fittr secured around $11 Mn funding from Elysian Park, Peak XV’s seed fund Surge, and other investors. With this latest investment, Fittr has raised $17 Mn in total equity funding to date.

Meanwhile, Rainmatter has invested in around 18 health and wellness startups, including Aroleap, Devils Circuit, Ultrahuman, Trunativ, and Humanedge.

Growing from a fintech fund and incubator at the beginning of 2016, Rainmatter has lately expanded its focus to sectors such as healthtech, edtech and climatetech.

Its fintech portfolio includes startups such as smallcase, Ditto and Digio, while its health and wellness portfolio counts names such as The Whole Truth, Peesafe, among others. In addition, it has also invested in climate tech startups such as Akshayakalpa, Solarsquare, Zerocircle, Ossus, among others.

In August last year, Rainmatter allocated an additional INR 1,000 Cr capital to invest in sectors such as health, education, and climate change.