New Delhi, 16 September (IANS). India’s fitness tech sector has so far raised $ 98.9 million through 203 equity rounds, which despite the current vigilant funding activity, reflects its continuous expansion. This information was given in a report on Tuesday.
Fitness tech ecosystem currently consists of more than 600 active startups, 96 of which have achieved equity funding.
According to a report by Traxon, “In the last decade, the annual funding increased from $ 2.42 million to a record of $ 38.79 million in 2021 and then decreased to $ 4.83 million in 2024. Meanwhile, 2021 was the highest funding year.”
The most funding startups remain the most funding startup in this sector with $ 666.6 million, followed by a healthy 65.3 million $ 145.3 million, while Ultrauman has got a funding of $ 54.9 million.
So far, four mega funding rounds of over $ 100 million have been recorded in this sector, which are all collected by Cultdotfit.
These include a $ 180 million series F in 2021, $ 110.5 million series D in 2020, $ 120 million series D in 2019 and $ 120 million in 2018.
Traxon co-founder Neha Singh said, “India’s fitness tech ecosystem is constantly entering a period of maturity, taking shape by combining growing health awareness, supporting policy initiatives and rapid digital adopts.”
Geographically, Bengaluru has so far been leading a total funding of $ 897.6 million in India’s fitness tech sector. After this, Mumbai was the second largest center with $ 33.2 million.
The sector extends to the sector wearables, connected gym equipment, fitness app and AI-draft platforms. AI -word platforms that offer personalized workouts, nutrition tracking and health monitoring.
There have been 12 acquisitions in the fitness tech sector so far, which reflects the growing consolidation in the region.
According to the report, “Important deals include the acquisition of Shwin Fitness by Johnson Health Tech in 2024, acquisition of myva by Bonatra in 2023 and Jyoga’s acquisition by Apodti in 2023.”
-IANS
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