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One-year-old fitness startup by IIT graduates raises $3.4 million in seed funding

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  • FitBudd is a global SaaS platform for Health and fitness coaches, enabling them to scale their business.
  • The start-up financing was attended by Accel India, Beenext, Sequoia Capital India & Waveform Enterprises.
  • FitBudd was founded by IIT Delhi graduates Saumya Mittal, Pranav Chaturvedi and Naman Singhal.

Fitness startup FitBudd announced today that it has raised $3.4 million in seed funding from Accel India, Beenext, Sequoia Capital India and Waveform Ventures.

The SaaS platform that helps health and fitness coaches scale their business globally was launched in 2021. It aims to help coaches better engage and retain their clients, at scale. It says it has gained users in 20 countries within a year of its launch.

“There is a clear shift in the $47 billion fitness and wellness industry from solopreneurs breaking away from institutions and building their own digital and hybrid businesses. Fitbudd is accelerating the success of these solopreneurs and providing end-user personalization at scale,” said Manasi Shah, investor and vice president of Accel.

During the pandemic, three IIT graduates – Saumya Mittal, Pranav Chaturvedi and Naman Singhal – noticed that employing personal coaches can help people better achieve their fitness goals. But it is expensive and inaccessible.

“While personal coaching has been established as a proven method of long-term fitness, it has been inaccessible to the vast majority of the population due to its cost. With FitBudd, we want to democratize personal coaching by making it available for 1/5th the price,” said Saumya Mittal, co-founder and CEO of FitBudd.

More than 600 million people worldwide use self-service apps or get gym memberships. But most aren’t able to achieve the results they’re looking for, FitBudd claims. An average coach generally supports 10-15 clients. Their startup claims that coaches can scale their business through their platform.

The startup will use the recently raised funds to drive product development, accelerate customer growth and disrupt the global health and fitness industry.

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