Zerodha-backed Rainmatter invests $3.5 million in fitness startup Fittr

Rainmatter invests in Fittr: Pune-based fitness startup Fittr has received a substantial investment of Rs 28 crore (approximately $3.5 million) from Rainmatter, the venture fund affiliated with Zerodha. Fittr, founded in 2016, had previously secured funding of around $11 million from various investors, including Elysian Park and Surge, in 2021. With this latest investment, Fittr's total equity funding stands at $17 million.

Rainmatter, known for nurturing an ecosystem of health and wellness startups, has invested in approximately 18 companies, including Aroleap, Devils Circuit, Ultrahuman, Trunativ, and Humanedge. Fittr's founder, Jitendra Chouksey, expressed excitement about gaining access to Zerodha's entire health and wellness startup ecosystem through Rainmatter's funding. He highlighted the potential collaborations between Fittr and other startups in the portfolio to enhance personal health and fitness for users.

With reported profits every quarter and an annual recurring revenue run rate of Rs 120 crore, Fittr is contemplating future prospects, including a possible public listing once year-on-year profits are achieved. However, the current focus remains on building a sustainable and profitable business model.

Fittr, boasting over five million app downloads and around 250,000 monthly active users, offers a comprehensive platform for online fitness and nutrition coaching, along with personalised training services.