Fittr raises $11.5 mn in series A funding
Fittr, a leading health and fitness platform, on Thursday announced that it has raised $11.5M in a series A funding round.
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Hyderabad Fittr, a leading health and fitness platform, on Thursday announced that it has raised $11.5M in a series A funding round.
The round was co-led by Dream Capital, the Corporate Venture Capital and M&A arm of Dream Sports and Elysian Park Ventures, the private investment arm of the LA Dodgers ownership group. Existing investor Sequoia Capital's India Surge also participated in the funding round. Ambit acted as the exclusive financial advisor to Fittr.
The new capital will help the fitness platform to accelerate its growth and expansion into new markets, including North America, the UK and Singapore, which currently accounts for 30 per cent of the company's overall revenue, while continuing to educate the Indian population around health and fitness.
"The investment raised will assist us to make strategic headways in achieving this goal," said Jitendra Chouksey, CEO and Founder, Fittr. "Elysian Park Ventures and Dream Capital joining the community enables us to accelerate our work to help millions of people around the world to get fit, and also to create meaningful career opportunities in the health and fitness industry over the next few years," he added.
Dev Bajaj, MD, Dream Capital, said: "Dream Capital considers Fitness-tech as a key focus sector due to highly overlapping demographics with sports-tech. Within this industry, Fittr's organic and highly engaged community has been particularly impressive. We look forward to participating in the company's journey in building out a full-stack fitness-tech platform made for a global user base."
Nikhil Bahel, Managing Partner, Elysian Park Ventures, said: "The fitness market has changed dramatically over the last year, and we believe the demand for digital fitness training will only continue to grow."
