India’s fitness tech sector raises $989 mn: Report
The sector has recorded four mega funding rounds of over $100M to date, all raised by Cult.fit
India’s fitness tech sector raises $989 mn: Report
India’s fitness tech sector has raised $989 million across 203 equity rounds till date, underscoring its steady expansion despite current cautious funding activity, a report said on Tuesday.
The fitness tech ecosystem currently comprises more than 600 active startups, of which 96 have secured equity funding.
"Over the last decade (2016–2025 YTD), annual funding grew from $24.2 million in 2016 to a record $387.9 million in 2021, before moderating to $48.3 million in 2024. Meanwhile, 2021 marked the most funded year," Tracxn said in a report. In terms of top-funded startups, to date, Cult.fit remains the most funded startup in the sector with $666.6 million, followed by HealthifyMe with $145.3 million, while Ultrahuman has secured $54.9 million in funding.
The sector has recorded four mega funding rounds of over $100M to date, all raised by Cult.fit. These include a $180M Series F in 2021, a $110.5M Series D in 2020, a $120M Series D in 2019, and a $120M Series C in 2018.
“India’s Fitness Tech ecosystem is entering a phase of steady maturity, shaped by a combination of rising health awareness, supportive policy initiatives and rapid digital adoption. Investors continue to see strong long-term potential here, even as funding in recent years has been more measured," said Neha Singh, Co-Founder of Tracxn.
Geographically, Bengaluru led the funding landscape in India’s Fitness Tech sector, securing $897.6 million in total funding to date. Mumbai followed as the second-largest hub with $33.2M, led by FitCircle, RESET Tech, and AlphaCoach.
