Rainmatter, a venture fund backed by Zerodha, has invested Rs 28 crore (approximately $3.5 million) in Fittr, a fitness startup based in Pune. Fittr had previously raised around $11 million from American private investment firm Elysian Park, Peak XV’s seed fund Surge, and other investors in 2021. With this latest investment, Fittr has raised a total of $17 million in equity funding since its inception in 2016.
Rainmatter has developed an ecosystem of approximately 18 startups in the health and wellness space, where it has made investments. Some of the companies in this portfolio include Aroleap, Devils Circuit, Ultrahuman, Trunativ, and Humanedge. Fittr founder Jitendra Chouksey expressed that with Rainmatter’s funding, the startup would gain access to Zerodha’s entire health and wellness startup ecosystem. Chouksey emphasized the potential for collaboration between Fittr and Rainmatter’s other health and wellness startups to promote personal health and fitness to users.
Fittr has recently reported profits on a quarterly basis and has an annual recurring revenue run rate of Rs 120 crore. Chouksey stated that once the company achieves year-on-year profits, it may consider a public listing. Currently, the focus is on building a sustainable and profitable business model.
Fittr boasts approximately 250,000 monthly active users and over five million app downloads. The platform offers online fitness and nutrition coaching as well as personal training.
