Fitness-tech venture Fittr, based out of Pune, has bagged a fresh Rs 25 crore (roughly $3 million) from Rainmatter — the fund backed by Zerodha’s Nithin Kamath. The update came straight from founder Jitendra Chouksey on Instagram, who also used the moment to spotlight an employee-first move: a buyback of stock options benefiting 41 current and former team members.
What makes this funding round different? Chouksey said his own equity remains untouched — no dilution this time around.
Rainmatter, launched by Kamath to invest in areas like fintech, sustainability, and wellness, has steadily built up a portfolio of purpose-driven companies. Its lineup includes names such as Dreamspan, NOTO Ice Creams, Fitpage, PeeSafe, and Game Theory. Alongside funding, Rainmatter is known to back founders with tools, intros, and financial infrastructure — without asking for board seats or exit clauses, making it a rare breed in India’s funding ecosystem.
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This isn’t Fittr’s first run-in with Rainmatter either. The $3 million follows an earlier infusion of $3.5 million in January 2024. Even before that, the startup raised $11.5 million back in 2021 from a group of investors, including Elysian Park and Surge (Peak XV’s early-stage program).
Fittr’s game plan for the fresh funds? Chouksey said the goal is to create a robust healthcare stack — one that’s built around reliability, openness, and affordability. He hinted at broader ambitions beyond fitness, suggesting the brand is gearing up for deeper integration into preventive and lifestyle healthcare.
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As for Rainmatter, Kamath recently shared that the fund deployed Rs 275 crore across 47 companies in 2024 alone. Health and climate continue to dominate its investment themes. On X (formerly Twitter), Kamath explained their unusual approach: “We’re not playing the VC game. No exits. No board seats. Just patient capital for long-term bets.” He added that they may be ahead of the curve, but he’s convinced that climate and health are the trends to watch over the next decade.
