Fittr, a fitness-tech startup, has raised $11.5 million in its Series A round led by Dream Sports’ corporate venture fund, Dream Capital and Elysian Park Ventures. Existing backer Sequoia India’s Surge also participated in the round.
The funding money will be used to ramp up growth and expansion of the startup into new markets, including North America, the United Kingdom and Singapore and to hire and product development, said Fittr in a press release.
Founded by Jitendra Chouksey, Sonal Singh, Jyoti Dabas, Rohit Chattopadhyay and Bala Krishna Reddy, Fittr is a community-based health and online fitness marketplace. It creates customized workout plans based on fitness goal, equipment available, time available, and exercise style preferences.
The Pune-based startup claims to have a community of over 400 coaches and a monthly active user base of 450,000, of which 220,000 are paying customers. 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.
Ambit acted as the financial advisor to Fittr.