Pune : In a significant move towards bolstering its expansion plans, Pune-based fitness startup Fittr has secured a noteworthy investment of Rs 28 crore (approximately $3.5 million) from Rainmatter, a venture fund associated with Zerodha. This latest infusion of funds comes as a strategic boost for Fittr, known for its commitment to enhancing personal health and fitness through online coaching and training.
Fittr, founded in 2016, had previously garnered approximately $11 million in funding from investors, including American private investment firm Elysian Park, Peak XV’s seed fund Surge, and others in 2021. With this recent investment, Fittr’s total equity funding has reached $17 million.
Rainmatter, backed by Zerodha, has developed a robust ecosystem encompassing around 18 startups in the health and wellness sector, where it actively invests. Notable entities within this portfolio include Aroleap, Devils Circuit, Ultrahuman, Trunativ, and Humanedge. Fittr’s founder, Jitendra Chouksey, expressed excitement about the possibilities that come with Rainmatter’s investment, providing Fittr access to Zerodha’s expansive health and wellness startup network.
Chouksey emphasized the potential for collaborative initiatives between Fittr and other health and wellness startups within Rainmatter’s portfolio, ultimately benefiting users by promoting personal health and fitness.
Recent reports indicate that Fittr is witnessing profits on a quarterly basis, boasting an impressive annual recurring revenue run rate of Rs 120 crore. Chouksey hinted at future considerations for a public listing once the company achieves sustained year-on-year profits. Currently, Fittr’s primary focus is on cultivating a sustainable and profitable business model.
With around 250,000 monthly active users and over five million app downloads, Fittr has emerged as a key player in the online fitness and nutrition coaching space. The strategic investment from Rainmatter positions Fittr for accelerated growth and market dominance in the ever-expanding health and wellness sector.
