Tuesday, May 21, 2024
Outlook India
Outlook Business

Fitness Start-up Fittr Fires 11% Of Its Employees: Report

The layoffs have reportedly affected marketing, sales, client servicing and technology teams

Fitness Start-up Fittr Fires 11% Of Its Employees: Report

Outlook Start-Up Desk

POSTED ON March 02, 2023 12:24 PM

Fittr, a fitness start-up based in Pune, has reportedly laid off almost 11% of its workforce, with sources close to the company stating that nearly 60 employees, including coaches and trainers, have been let go since last year., Inc42 reported.

The layoffs have occurred across the marketing, sales, client servicing, and tech teams. However, the co-founder and chief executive officer (CEO) of Fittr, Jitendra Chouksey, claims that the layoffs were due to role redundancy, and the company hired employees to backfill certain critical positions. Chouksey also stated that the start-up saw a surge in hiring post-COVID due to hyper-growth in the business.

Fittr, which was founded in 2016, began as a fitness community platform on WhatsApp, aimed at helping people achieve their fitness goals. In a freemium model, the application provides free services such as resolving queries about individual fitness regimes, while charging a fee for offering fitness coaches who create personalised diets and exercise regimes.

While digital wellness platforms suffered a temporary setback during the pandemic's initial phases, they quickly recovered as users flooded online platforms since physical training centres and gyms remained closed. However, according to Fittr's MCA filings, the company slipped into losses in FY22, registering a loss of Rs 25.2 crore compared to a profit of Rs 49.04 lakh in FY21, despite a rise in revenue from operations from Rs 52.7 crore in FY21 to Rs 83.05 crore in FY22.

Fittr last raised $11.5 million in September 2021 from Dream Capital and Elysian Park Ventures and counts Sequoia Capital India's Surge among its investors. The company aims to double its revenue to Rs 200 crore in FY23 and expand operations by onboarding 1,000 additional coaches.

  • Related Articles

    Zomato did not comment anything on this matter

    Zomato Owned Quick Commerce Platform Blinkit To Step Into Home Service Business

    NoBroker wants to utilise the fund to expand its services to more customers across the present and new cities

    Property Tech Start-Up NoBroker Raises $5 Million From Google In Series E Round

    The food delivery platforms have also sought clarification from the government on the directive while claiming that there has been a misinterpretation of the notice as the ban is applicable to bike...

    Swiggy, Zomato Flag 'Misinterpretation' Of Bike-Taxi Ban Order By Delhi RTO