Fittr Boosts Fitness Playbook With $3.5M Funding from Zerodha’s Rainmatter

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Many people across India struggle to find a sustainable fitness routine which is tailored to their unique needs leading to feeling inconsistent and frustrated throughout their fitness journey. Fittr understood the need for a platform that could provide not only accurate information but also make fitness accessible, personalized, and technologically driven. To further bridge this gap, Pune-based startup Fittr has secured funding of $3.5 million from Rainmatter, Zerodha‘s investment arm.

Logo of Fittr

Founded by Jitendra Chouksey in 2014 as a WhatsApp group which was focused on promoting health, Fittr has evolved into a platform which is leveraging technology and human coaches. With a user base of 3 million and more than 2,00,000 monthly active users, Fittr aims to make 50 million people fit while creating employment opportunities in fitness and establishing itself as a global coaching platform.

“There will be a huge opportunity for collaboration between Fittr and Rainmatter’s other health and wellness startups where together we can promote personal health and fitness to our users,” Chouksey said.

Zerodha Rainmatter invests in Fittr

The latest funding round has followed Fittr’s successful financial performance where it has boasted an annual recurring revenue run rate of ₹120 crore. With this investment, Fittr has now raised a total of $17 million in equity funding building upon the $11.5 million funding secured in 2021 from investors like Elysian Park, Peak XV’s Surge, and others, according to an article published in the Economic Times.

“Once we clock profits year-on-year, we may eventually plan a public listing. That is my ultimate aim, but I want to build a sustainable profitable business before that,” Chouksey said in a statement.

“The primary focus for the next year or two is to generate effective employment for more than a thousand fitness and nutrition coaches,” he added.

Founder of Fittr
Founder of Fittr

Fittr’s founder, Jitendra Chouksey, has talked about the significance of Rainmatter’s investment while emphasizing that this opportunity will provide Fittr with access to Zerodha’s ecosystem of health and wellness startups. Fittr’s dedication to using technology for fitness solutions along with its investment from Rainmatter will help place the startup at the forefront of innovation in the fitness industry.

Zerodha Rainmatter’s core focus

Rainmatter is an investment arm of Zerodha’s which has a focus on supporting Indian founders who are committed to improving the financial and health choices of individuals in the country. It was founded by Nithin Kamath, founder of Zerodha, along with Kailash Nadh.

Left to RIght: Nithin Kamath and Nikhil Kamath, the cofounders of Zerodha.
Left to Right: Nithin Kamath and Nikhil Kamath, the cofounders of Zerodha.

“There is so much domestic capital available in terms of gold and real estate, and if India has to become an economic superpower, all of that capital should be going into investing in businesses, not lying in fixed deposit boxes, gold and real estate,” says Nithin Kamath, Founder of Bengaluru-based Zerodha.

Rainmatter has curated a diverse portfolio with notable startups like Smallcase, Ditto, and Digio in fintech, and The Whole Truth, Peesafe, among others, in health and wellness. Beyond the conventional role of a fund, Rainmatter has positioned itself as a partners for entrepreneurs, who offer not only financial backing but also mentorship while providing access to industry networks, and opportunities for product validation.

“We do not have a set investment thesis like other large funds. We mostly look out for interesting companies, touch base with their founders, and if there is an investment opportunity, we go ahead and fund the company,” said Dinesh Pai, who heads Rainmatter’s equity investments.

Logo of Rainmatter

With an investment capacity of up to ₹50 crores, Rainmatter has distinguished itself by taking a unique approach where founders have the freedom to carry out their vision while gaining benefits from the support and resources that Rainmatter brings to the table.

Fittr’s journey so far

Fittr is a startup which is at the forefront of the health and fitness revolution while addressing the diverse needs of individuals on their wellness journeys. With over 300,000 successful transformations, Fittr has emerged as a leader in providing comprehensive health and fitness solutions. The Fittr app offers a full suite of easy-to-use tools such as a free diet tool, training tool, body fat calculators, macros calculator, and many others. The platform also provides personalised guidance, customised plans, and weekly check-ups through Fittr’s certified coaches.

The platform was started as a small WhatsApp group in 2014 by Jitendra Chouskey to help his friends get in shape. Shortly thereafter, co-founders Jyoti Dabas, Rohit Chattopadhyay, Bala Krishna Reddy, and Sonal Singh joined Jitendra in this venture. Due to overwhelming responses and positive feedback, Fittr quickly transformed from a WhatsApp group to a Facebook community within the same year.

With an initial investment of Rs 90K, Fittr took a significant step in 2016 by transforming into a full-fledged platform. During this time, they created the fundamental training methodology to prove that anyone can get fit with the knowledge of Quantified Nutrition. The key moment came in 2018 when the Fittr application was launched. Today, headquartered in Pune, Fittr is a tech-enabled, community-first health and fitness platform.

“Health and fitness are more than just an aesthetic physique. For me, it is a state of being and a way of life that I abide by. In my opinion, having a fitness routine and following it through the years has helped me be a better individual both professionally and personally. I believe fitness has transformed the way I perceive my day to day life. It has helped me to understand how important working hard is to achieve a goal and there is no shortcut to achieving success.” Chouksey said in an interview with the Economic Times when asked about fitness for life.

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