Pic credit: Entrackr
Indian foodtech unicorn Zomato has acquired full-stack sports facilities provider Fitso in a deal of Rs100 Crore.
This is the first acquisition by Zomato after UberEats was bought by the Gurugram-based company in January 2020.
About Company
Fitso, founded in 2015 by three IIT Delhi alumni — Naman Sharma, Rahool Sureka and Saurabh Agarwal, is a full-stack sports facilities provider and claims to have more than 20,000 users in Delhi NCR.
Users on the platform can choose a sport and book a time slot at their nearest facility.
It also claims to standardise the sports facilities at any stadium, field or court, implementing best practices in facility management using tech and providing highly trained coaches on a subscription basis.
Indian Food tech Zomato, had closed 2020 with a funding round worth $660 Million with 10 new investors joining the company’s cap table.
The funds were raised at a post-money valuation of $3.9 Billion.
It was reported to be looking to raise a further $500 Million in a pre-IPO funding round.
The company plans to go for public listing this year.
Company’s Financial
In the fiscal year ending March 31, 2020 (FY20),Zomato saw its loss increase 161% to INR 2,451 Cr from INR 940 Cr in 2019.
In July, Zomato’s earnings in the Covid-19-hit first quarter of FY21, from April to June, stood at $41 Mn (INR 299 Cr), while the loss was $12 Mn (INR 88 Cr).
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