India's fitness tech funding slips to $7 million in 2025 YTD, signals post-boom slowdown

India’s fitness tech sector has raised $7 million in the 2025 year-to-date period, reflecting a slowdown from earlier peaks as investors adopt a more measured stance, according to Tracxn's India Fitness Tech Wrap Report 2025. This year's funding landscape reveals a declining trend that has been ongoing since 2021, when it reached its peak.

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. The year 2021 marked the most funded year, driven by Cult.fit’s landmark $180 million Series F round, and to date, the sector has raised $989 million across 203 equity rounds.

India’s fitness tech ecosystem currently comprises over 600 active startups, of which 96 have secured equity funding. The sector spans wearables, connected gym equipment, fitness apps, and AI-powered platforms offering personalised workouts, nutrition tracking, and health monitoring.

In terms of top-funded startups, as of 2025 year-to-date, Cult.fit remains the most funded startup in India’s fitness tech sector, with $666.6 million, followed by HealthifyMe with $145.3 million, focused on AI-driven nutrition and fitness coaching, while Ultrahuman has secured $54.9M to scale its biomarker-led health platform. FITTR, with $19.9M, represents the growing demand for app-based coaching and community-driven fitness. In 2025 YTD, FITTR secured $3M in a Series A round from Rainmatter.

The sector has recorded four mega funding rounds of $100 million+ + to date, all raised by Cult.fit. These include a $180 million Series F in 2021, a $110.5 million Series D in 2020, a $120 million Series D in 2019, and a $120M Series C in 2018. These rounds have enabled Cult.fit to expand its gyms, strengthen digital fitness offerings, integrate healthtech solutions, and acquire smaller players, cementing its position as the market leader in India’s Fitness Tech ecosystem.

“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. Category leaders such as Cult.fit and HealthifyMe have attracted sustained backing, while startups across the sector are innovating with AI-driven nutrition, connected equipment, wearables, and immersive platforms that go beyond traditional fitness to create holistic health experiences,” says Neha Singh, Co-Founder of Tracxn.

Bengaluru led the funding landscape in India’s fitness tech sector, securing $897.6 million in total funding to date, driven primarily by Cult.fit and HealthifyMe, followed by Mumbai, the second-largest hub with $33.2 million, led by FitCircle, RESET Tech, and AlphaCoach.

On the investor front, more than 100 VCs have backed India’s fitness tech sector till 2025 YTD. Among the most active are Chiratae Ventures, Blume Ventures, and Kalaari Capital. Chiratae Ventures led with 11 rounds across 3 portfolio companies, while Blume Ventures and Kalaari Capital participated in 8 rounds each. Other investors include Accel, Pratithi Investments, and Rainmatter, supporting companies such as Fitbudd, AyuRythm, and FITTR.

The segment has witnessed only one Unicorn so far, Cult.fit, which became a unicorn on November 10, 2021, while there have been 12 acquisitions to date, reflecting growing consolidation. Notable deals include Johnson Health Tech’s acquisition of Schwinn Fitness in 2024, MyAva’s acquisition by Bonatra in 2023, and Zyoga’s acquisition by Appointy in 2023.