[Funding alert] Fitness startup Fitternity raises $4M from Sixth Sense Ventures
Fitness discovery and booking platform Fitternity on Tuesday said that it has raised close to $4 million from consumer centric domestic venture fund Sixth Sense Ventures.
Founded in 2013, Fitternity was started by first-generation entrepreneurs - management graduate Neha Motwani, and consultant Jayam Vora, an engineer and healthcare specialist.
On Fitternity, users can book real-time sessions seamlessly, and pay-per-session. The platform also provides users with options of membership portability and dynamic pricing - addressing the fear of wasted long-term memberships and need for variety.
On the investment, Neha Motwani, Co-founder and CEO, Fitternity, said,
"We are really excited to partner with Sixth Sense. Our business models are seeing great traction on both sides of demand and supply and we aim to scale across three major focus areas – adding offerings in ancillary categories across sports and preventive healthcare, scaling up our supply base in top 20 cities, and managing inventory at scale."
The company has already partnered with top insurance companies to offer fitness linked insurance premiums, and are replacing outdated gym reimbursements with portable and flexible Fitternity Sessions for leading corporates.
Jayam Vora, Co-founder and COO, Fitternity, said, "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. Having the opportunity to scale up Fitternity alongside the Sixth Sense team is truly exciting."
At present, the platform claims to have close to 10,000 fitness centers and data of 10 million customers.
Nikhil Vora, Founder and CEO of Sixth Sense, stated
"Fitternity is a great fit for Sixth Sense as its business model has perfectly evolved to be relevant to the changing behaviours of the Indian consumer. I've known the team for a while and is heartening to see them evolve over the years and build a strong team as they become leaders in the fitness space. Our dream is to see Fitternity evolve to become the Google for discovering fitness, the BookMyShow for buying fitness and akin to a Zomato-Swiggy for consuming fitness."
The founders also state that the company is looking to grow its revenues six times over the next 12 months.