The company will use the funds for product development and team expansion, it said in a statement.
Fitso, founded by IIT Delhi alumni Saurabh Aggarwal, Naman Sharma and Rahool Sureka in 2015, helps users find partners and coaches for activities like running, cycling and other sports. Using the app, users can also hire personal fitness trainers, coaches and nutritionists.
Aggarwal worked with Flipkart earlier while Sharma has worked at Zomato for four years. Sureka has worked at Yepme and UrbanClap in the past.
Co-founder Sureka said the app has already broken even and is on the route to profitability, without divulging further details.
Fitso had raised $200,000 from Varun Khurana, former CTO of Grofers, Samar Singla, CEO of Jugnoo and Vinay Bansal, CFO of Wildcraft in January 2016.
Deals in the space
Fitness startups have seen a lot of activity in recent months. Last month, weight-loss coaching app Obino had acquired reward-based fitness-tracking app Fitard for an undisclosed amount.
In January this year, mobile marketplace for gym memberships Fitnapp had raised pre-Series A funding from Noida-based real estate developer SD Group. Fitnapp also offers fitness equipment and gadgets, and health supplements.
In December, HealthifyMe had raised $1 million from Dubai-based investor Neelesh Bhatnagar, whose company NB Ventures has been actively investing in Indian startups.
In the same month, Fitpass had secured $1 million in seed funding from Mumbai Angels and a clutch of angel investors from Delhi and Bengaluru.
Source: techcircle