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.
Fittr, the world’s largest health and fitness community platform, today 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 enable India-based Fittr to accelerate its growth & expansion into new markets, including North America, the UK and Singapore, which currently accounts for 30% of the company’s overall revenue, while continuing to educate the Indian population around health & fitness.
“Fittr has always been committed to democratising 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,” 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 get fit, and also to create meaningful career opportunities in the health & fitness industry over the next few years.”
Today, the Fittr community stands strong and will continue its extensive efforts to provide a greater digital experience to its consumers through their community-first approach.
Dev Bajaj – Managing Director, 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 Fittr’s journey in building out a full-stack fitness-tech platform made for a global user base.”
“Fittr has experienced tremendous growth within India and around the world in a short amount of time,” said Nikhil Bahel – Managing Partner, Elysian Park Ventures. “The fitness market has changed dramatically over the last year, and we believe the demand for digital fitness training will only continue to grow. Fittr’s community-based model is well positioned for success, and we believe it has the ability to become a dominant global fitness and health brand.”
Fittr began as a small WhatsApp group, and today has grown into one of the most engaged and informative fitness communities in the world. The philosophy underpinning Fittr revolves around fostering awareness & education around fitness & nutrition, alongside empowering its community members with the right knowledge, skills and support to achieve their fitness goals.
Source: Business World