One-year-old fitness startup by IIT graduates raises $3.4 million in seed funding
FitBuddis a global SaaS platform for healthand fitness coaches, enabling them to scale their business.
- The seed funding saw participation from Accel India, Beenext,
Sequoia CapitalIndia & Waveform Ventures.
- FitBudd was founded by
IIT Delhigraduates Saumya Mittal, Pranav Chaturvedi, and Naman Singhal.
AdvertisementFitness startup FitBudd announced today that it raised $3.4 million in seed funding from Accel India, Beenext, Sequoia Capital India and Waveform Ventures.
The SaaS platform which helps health and fitness coaches scale their business worldwide, was launched in 2021. It aims to help coaches better engage with and retain their clients, at scale. It says that it has gained users across 20 countries, within a year of its launch.
“There is a clear shift in the $47 billion fitness and wellness industry of solopreneurs breaking away from institutions and building their own digital and hybrid businesses. Fitbudd is accelerating the success of these solopreneurs while providing personalization at scale for end-users,” Manasi Shah, investor and vice-president, Accel said.
During the pandemic, three IIT graduates - Saumya Mittal, Pranav Chaturvedi, and Naman Singhal noticed that engaging personal coaches can help people achieve their fitness goals better. But, it is expensive and inaccessible.
“While personal coaching has been established as a proven method for long-term fitness, it has been inaccessible for the vast majority of the population due to cost. With FitBudd, we aim to democratize personal coaching by making it available at 1/5th the cost,” Saumya Mittal, co-founder and CEO, FitBudd, said.
Over 600 million people worldwide use self-serve apps or get gym memberships. But most are unable to achieve the results they are looking for, claims FitBudd. An average coach generally supports 10–15 clients. Their startup claims to allow coaches to scale their business via their platform.
The startup will use the recently raised funds to fuel product development, accelerate client growth, and disrupt the global health and fitness industry.
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