Health and fitness app Fitso raises $1.5 mn in pre-Series A funding round

Health and fitness app Fitso raises $1.5 mn in pre-Series A funding round
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9 Sep, 2019

Gurugram-based Jogo Technologies, which runs fitness and health app Fitso, has raised $1.5 million in pre-Series A funding.

Early-stage capital firm SRI Capital, investment banking firm Sprout Capital, venture capital firm IPV Capital, Pankaj Chaddah, co-founder, Zomato and Ashish Gupta, co-founder, Helion Venture Partners participated in the funding round, a statement released by the startup said.  

Fitso will use the funds to increase the number of indoor all-weather swimming pools, adding talent and technology solutions to operations.

“We found a gap in an unorganised and conventional sports segment. To fill that gap, we are making fitness accessible and affordable using technology for people who want to play sports to get fit, by eliminating the need for a gym membership or expensive equipment. We focus on providing a facility to play sport under the guidance of a qualified coach. Fitso has seen families buy a Fitso subscription together. We plan to become the biggest brand name in the sports-oriented fitness segment” said Naman Sharma, co-founder, Fitso. 

Fitso was founded in 2015 by former Zomato employee Sharma, former Yepme and UrbanClap employee Rahool Sureka and former Flipkart employee Saurabh Aggarwal.

Fitso is a professional fitness-tech sports startup that aims to be a full-stack solution for all recreational sports needs.

 "India as a nation is increasingly becoming more health and fitness conscious. We need startups like Fitso to make sports more accessible to people," Chaddah said in the statement.

In 2017, the startup had raised $200,000 in angel funding from Sujeet Kumar, former president-operations, Flipkart, Intellenet Global Services CEO Bhupender Singh and PolicyBaazar CEO Yashish Dhaiya via fund-raising platform LetsVenture.

In 2016, the company had raised $200,000 in angel funding from Varun Khurana, former chief technology officer, Grofers, Samar Singla, CEO, Jugnoo and Vinay Bansal, chief financial officer, Wildcraft.