Vegan Startup Fitspire raised undisclosed amount from Bollywood singer Sukhbir Singh. Joining Singh in this funding round were prominent investors, including Ashish Chand and Sohil Chand (LC Nueva), Ivor Braganza (Next5 Ventures Oman), Dheeraj Jain (Redcliffe London), the Family Office of Jaipurias (represented by Ruchirans Jaipuria and Anuraag Jaipuria), and existing investor Amit Singhal.
Fitspire Journey and Success
Founded in 2020 by Vipen Jain, Fitspire is based in Delhi and addresses contemporary lifestyle concerns by offering wholesome nutrition supplements. With a network of 10,000 fitness influencers, the startup boasts over 1 million customers. It had previously secured $1 million in seed and bridge funding rounds.
Fitspire Ambitious Revenue Targets and Expansion Plans
Fitspire has set an ambitious revenue target of INR 300 crore within the next three years, reflecting its substantial growth aspirations. The startup aims to expand its Health and Personal Care (HPC) ecosystem, both across India and globally, while introducing new products and revenue streams.
Thriving Health and Fitness Sector in India
In the wake of the pandemic, Indian consumers have demonstrated heightened interest in fitness and health supplements. This surge in demand has captured significant investor attention, propelling startups like Fitspire into the spotlight.
This year, the health and wellness sector has seen significant funding activities. HealthifyMe has secured $30 million in pre-Series D funding. Marico has acquired a majority stake in D2C nutrition brand Plix for INR 369.01 crore. The market for health and nutrition products is expected to grow. Fitspire is set to capitalize on this growing sector.
Fitspire highlights the substantial potential of the market, with an overall valuation of an impressive $140 billion. Specifically, the nutraceuticals segment is valued at $39 billion, both projected to maintain a compound annual growth rate (CAGR) of 18%. As the industry continues to flourish, Fitspire’s strategic approach and innovative offerings position it well for future success.
