Back News / Fitternity raises $4M from Sixth Sense Ventures
Fitternity raises $4M from Sixth Sense VenturesMay 8, 2019
The startup plans to use the fresh capital to scale up its supply base in the top 20 cities and increase offerings in ancillary categories across sports & preventive healthcare.
Fitness discovery and booking platform Fitternity has raised $4 million from Sixth Sense Ventures, a consumer-focused domestic venture fund.
The Mumbai-based startup had previously raised about $2 million from investors like Exfinity Venture Partners and Saha Fund.
The company plans to use the fresh capital to scale up its supply base in the top 20 cities, manage inventory at scale and increase offerings in ancillary categories across sports & preventive healthcare.
Founded in 2013 by Neha Motwani and Jayam Vora, Fitternity enables users to discover and book various fitness activities like gyms, fitness classes, yoga, Pilates and Zumba among others. It is currently present in nine cities including Bengaluru, Mumbai, Delhi-NCR, Pune, and Hyderabad among others. The company claims that it is relying on technology and data insights of over 10 million customers and over 10,000 Fitness centres, to grow in an asset-light fashion
The platform works on a pay-per-session model enabling users to pay only when they work out while offering the flexibility of trying different workouts each time. It also offers memberships for select locations and has partnered with top insurance companies to offer fitness linked insurance premiums.
Other players in the Fitness segment include Cure.fit, HealthifyMe, and FitPass. Cure.fit is the most funded startup in the segment, having raised around $170 million until now.
Sixth Sense Ventures has so far backed companies in the retail, logistics, services, and consumer products sectors. Some of its investments include Eupheus Learning, JHS Brands, Soothe Healthcare, SaffronStays, Hindustan Foods, Fullife Healthcare, LEAP India, AVG Logistics and MyHealthcare.