Mumbai-based online fitness discovery platform Fitternity has raised $1 million from consumer-focused venture fund Sixth Sense Ventures and other investors.
The funding is an extension of the Series A of $4 million raised in May this year, a statement from the company said.
The capital infusion will help Fitternity grow 10x to $100 million annual revenue over the next 24-36 months, the statement added.
Fitternity was founded in 2013 by Neha Motwani, a management graduate and consultant and Jayam Vora, an engineer and healthcare specialist.
Fitternity Health E-solution, the company that runs Fitternity, follows a marketplace model and enables users to purchase sessions or membership of different fitness programmes including gym sessions, yoga, Zumba classes and personal trainers.
Fitternity claims to be using technology and data insights of over 10 million customers and over 12,000 fitness centres across the country.
The company has also launched OnePass that customers can use to get unlimited access to fitness centres.
"Fitness and wellness are at an inflection point in India and Fitternity is at the driver's seat propelling Indians towards a healthier life. Through their unique offerings for consumers, insurance companies and corporates, Fitternity will dominate the $7 billion (2022E) fitness market in India," said Nikhil Vora, founder and CEO, Sixth Sense.
Fitternity had earlier raised capital from Saha Fund and Exfinity in August 2016.
Deals in the space
June 2019: Health and fitness startup Curefit closed $120 million Series D funding round led by Chiratae Ventures, Accel, Kalaari Capital and Oaktree Capital.
June 2019: GOQii Inc, which makes wearable fitness devices, raised an undisclosed amount from Bollywood actor Akshay Kumar as part of its Series C funding round.