Sports facilities provider Fitso raises ₹10.5 crores from SRI Capital, others

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Gurugram-based full-stacks sports facilities provider Fitso has raised ₹10.5 crores in pre-series A funding from SRI Capital, Sprout Capital, IPV Capital, Pankaj Chaddah, co-founder of Zomato and Ashish Gupta, co-founder of Helion Venture Partners. The startup plans to use the freshly raised capital to increase the number of indoor all-weather swimming pools and invest in expansion, hiring, and technology to boost their operations.

Fitso was founded in 2015 by Saurabh Aggarwal, an ex-Flipkart employee and IIT Delhi graduate along with his friends Naman Sharma, ex-Zomato employee and Rahool Sureka, ex-Yepme and UrbanClap employee.

Supporting PM Narendra Modi’s Fit India movement, Fitso is encouraging people to use technology to stay fit. It believes that fitness is an integral part of Indian culture and sports is the best way of being healthy and fit. It’s primary product SEALs offers coaching and access to all-weather swimming pools across Delhi NCR region.

“As the name suggests, Fitso’- “Fitness with Sports” sets us apart from the other players in the industry who are focused on fitness through workouts with expensive equipment and are venue oriented. We found a gap in an unorganized 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.

The startup has also launched its sports facility in Hyderabad. The startup provides multiple new sports programs for Badminton and Tennis. Fitso is planning to launch an all-in-one pass to provide its customers access to all of its facilities.

The fitness industry in India is estimated to be worth ₹2,24,000 crores by 2022 of which recreational sports will contribute ₹1,40,000 crores. And Fitso stands apart with its unique selling proposition of a full-stack model to provide quality sporting experience to its customer base.

Shweta Singh, Principal at SRI Capital said, “There is a gap in demand for sports facilities among people of all age groups and supply of good quality facilities. There is a latent demand for a service like Fitso which takes the hassle away from engaging in sports. Fitso is making sports accessible to all.

The sports industry in India is underserved as many people find it difficult to find standard management of facilities and market-ready coaches. The startup solves this problem by standardizing the facilities and providing high-quality coaches to enable learning of new sports skills. It has served more than 20,000 customers in the Delhi NCR region.

Pankaj Chaddha, Founder of Zomato said, “India as a nation increasingly becoming more health and fitness conscious. We need startups like Fitso to make sports more accessible to people.”

From its beginning as a running/cycling partner finding an app to a complete fitness solution along with personal coaches, to their current avatar where they are a full-stack sports experience provider, they are exploring the endless opportunities on this road while at the same time they are sticking to their core value of making people fit.

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Divya Baral
Divya is the correspondent for the category "Funding News", "Funding Roundups" and author of "Fundraising Essentials". She has been writing for 10 years.

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