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Pune-based fitness tech startup Fittr has raised $3 million (approximately Rs 25 crore) in funding from Rainmatter, the investment arm of Zerodha, founder Jitendra Chouksey announced in an Instagram post.
Rainmatter, which was founded by Zerodha CEO Nithin Kamath, invests in fintech, climate, and health startups, helping founders with mentorship, financial APIs, industry networks, and opportunities to validate products. Its portfolio includes companies such as Game Theory, Dreamspan, Evolved Foods, Fitpage, Niramai, NOTO Ice Creams, and PeeSafe.
Chouksey also said that 41 current and ex-employees were given ESOP buybacks and added that he did not dilute his personal equity in the startup.
“I did not dilute any of my shares and continue to hold the majority stake in the business,” he wrote.
The newly raised capital, he said, will be used to build a vertical healthcare stack grounded in trust, transparency, accountability, and affordability. Chouksey also revealed that the latest investment is an extension to an earlier $3.5 million, which it raised in January last year from Rainmatter.
Prior to that, the startup raised $11.5 million in 2021 from various investors, including Elysian Park and Peak XV’s seed fund Surge.
Earlier this year, Nithin Kamath disclosed that Rainmatter invested Rs 275 crore across 47 startups in 2024, with the majority of capital flowing into health and climate-focused ventures.
“It may seem like we’re investing in too many startups, but we aren’t a typical VC and don’t function like one. We don’t take board seats, have no exit clauses, and have a perennial structure (patient capital)—that is, we are in it for the long term. We may be early, but our thesis right now is that climate and health will be megatrends of the future,” Kamath wrote in a post on X.
At @Rainmatterin, we invested about Rs 275 crores in 47 startups last year. It may seem like we’re investing in too many startups, but we aren’t a typical VC and don’t function like one. We don’t take board seats, have no exit clauses, and have a perennial structure (patient… pic.twitter.com/iB6sXsZXDp
— Nithin Kamath (@Nithin0dha) January 8, 2025
Since its inception, the Bengaluru-based fund has backed more than 100 startups—including 32 in fintech, 32 in health and fitness, 31 in climate, and eight in storytelling—with the remainder in various other sectors.
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