Fitness and nutrition platform Fittr raised $11.5 million in a Series A funding round led by Dream Capital, the M&A arm of Dream Sports, and Elysian Park Ventures, the Los Angeles Dodgers ownership group’s private investment firm.
Dream Capital, launched last month, is a $250 million venture fund focused on early stage sports, fitness, and gaming technology startups with the potential for $100 million in annual revenue. It plans to make investments between $1 million and $100 million in around 20 startups over the next two years.
Previous investor Surge — Sequoia Capital India’s accelerator program — also participated in the round.
- Fittr will use the funding to strengthen its leadership and expand in the U.K., Singapore, and North America, which account for 30% of the company’s revenue.
- The India-based platform wants to continue focusing on educating its home country about health and fitness.
Until this year, the company relied on word-of-mouth marketing but still managed to reach $9.3 million in gross bookings in FY21. Founder and CEO Jitendra Chouksey said it makes Fittr one of the “world’s largest community-based fitness brands.”
Profitable since its inception, Fittr surpassed 65,000 paid users this year, recording around 20% month-over-month growth on its personal training service.