Fitness startup Fitternity raises $4 mn from Sixth Sense Ventures
Online fitness discovery and booking platform Fitternity has raised $4 million from consumer-focused venture capital firm Sixth Sense Ventures, a company statement said.
The Mumbai-based startup will use the money raised to add offerings across sports and preventive healthcare, expand its supply base in the top 20 cities and manage inventory at scale, the statement added.
Fitternity Health E-solution Pvt Ltd, which runs Fitternity, was founded in 2013 by Neha Motwani, a management graduate and consultant, and Jayam Vora, an engineer and healthcare specialist.
The company follows a marketplace model and enables users to purchase sessions or membership of different fitness programmes, including gym sessions, yoga and Zumba classes.
Fitternity claims to be using technology and data insights of over 10 million customers from over 10,000 Fitness centres across the country.
The startup has also partnered with insurance companies to offer fitness linked insurance premiums and are replacing outdated gym reimbursements with portable and flexible Fitternity sessions for leading corporates.
"We have a deep understanding of the pain points of consumers in their fitness journey and through innovative offerings across a strong network of gyms / studios we aim to provide an optimal solution to our customers across their wellness lifecycle. With robust unit economics in place we are very confident to grow our revenue 6X over the next 12 months," said Vora, co-founder of Fitternity.
Previously, Fitternity raised capital from Saha Fund and Exfinity in August 2016.
A number of ventures offering fitness services have attracted investor attention. Among them is CureFit, founded by Myntra co-founder Mukesh Bansal and former Flipkart executive Ankit Nagori. Earlier this week, it raised $75 million (Rs 521.76 crore) from its existing investors Accel Partners, Kalaari Capital and Chiratae Ventures.