Fittr, a community based health and online fitness marketplace, in a series A funding from Dream Sports corporate venture fund Dream capital and Elysian park ventures which is a private investment arm of LA Dodgers ownership group, has raised a capital of $11.5 million. Along with these stalwarts existing investor Surge from the house of Sequoia India also participated in the same.
Fittr plans to spend this funding to increase its market footprint especially in the markets of North America, United Kingdom and Singapore, that currently accounts for around 30% of revenue of the company. Company will also rake up its hiring and product development endeavours.
Fittr is a company established in 2014, aims to connect users to a market place of lifestyle and nutrition coaches. This platform is a brainchild of Jitendra Chouksey, Sonal Singh, Rohit Chattopadhyay, Bala krishna reddy, which encompasses a community of over 400 coaches and a monthly active users of 450,000 in which around 220,000 are paid cutsomers.
According to Chouksey, Fittr is on course to clock an annual revenue run rate of $15 million in the current fiscal. The startup was bootstrapped for the initial four years and has so far raised $13.5 million, including this round.
“We realise that fitness is a very short-term metric and it does not let people see the bigger picture. Sports on the other hand can become that big picture that can add to a lot of skill,” Chouksey told ET. “So, the focus going forward is going to be on sports wherein we make people fit but we also engage them in different kinds of sports.” The company will soon launch martial arts and acrobatics classes, among others, to attract a younger audience, he said.
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