Fittr, a Fitness startup based in Pune, has announced the raising of $11.5 million in a Series A financing round to boost its health & fitness platform’s international expansion.
Dream Capital, the Corporate Venture Capital and M&A branch of Dream Sports, and Elysian Park Ventures, the private investment branch of the LA Dodgers-backed group, co-led this round. Existing investor Sequoia Capital’s India Surge also participated in the round. Dev Bajaj, Managing Director of Dream Capital, said about the firm’s participation in the round:
“Within this industry, Fittr’s organic and highly engaged community has been particularly impressive. We look forward to participating in Fittr’s journey in building out a full-stack fitness-tech platform made for a global user base.”
Despite having started as a small WhatsApp group, Fittr has now grown and became one of the most engaged and informative fitness communities in the world. Once the startup launched its Fittr platform, it quickly became one of the largest health and fitness community platforms in the industry, helping to raise awareness for physical, mental, and emotional well-being. Jitendra Chouksey, CEO and Founder at Fittr, referred to this mission by stating:
“Fittr has always been committed to democratizing fitness and raising awareness around physical, mental, and emotional well-being. The investment raised will assist us to make strategic headways in achieving this goal. Elysian Park Ventures and Dream Capital joining the community enables us to accelerate our work to help millions of people around the world get fit, and also to create meaningful career opportunities in the health & fitness industry over the next few years.”
The India-based startup plans to use the proceeds from the new capital to fuel its growth and strategy pipeline of international expansion, extending its reach to new markets such as North America, the UK, and Singapore. Part of the capital will also be destined for educational efforts on health and fitness for the Indian population.