Indonesian fitness startup nets $1.25m in pre-series A round

Indonesian fitness brand Ride Jakarta has changed its name to R Fitness after raising US$1.25 million in a pre-series A round led by local venture capital firms Intudo Ventures, Agaeti Ventures, and Sinar Mas Digital Ventures.

Sinar Mas Land, Centre Park, RHL Ventures, and East Ventures also participated in the round.

Photo credit: Pixabay.

Founded in April 2015, the company was originally known for its indoor cycling programs. It rebranded to R Fitness as the company aims to encompass more inclusive fitness and wellness categories, according to a statement.

The startup now focuses on premium boutique experiences for indoor cycling, Strong by Zumba, circuit training, meditation, yoga, and rotating fitness courses. By the end of this year, the firm plans to have five flagship studios across Jakarta.

In addition, it also aims to launch its “Pod” micro-studio format, which will offer essential fitness equipment, lockers, and shower facilities. They can also be repurposed to meet different needs, such as fitness, gaming, relaxation, and reading. Customers will be able to use the facilities for IDR 25,000 (about US$1.75) per visit.

The startup plans to initially build out the new studios in key locations in Jakarta through Sinar Mas Land and Centre Park properties and parking facilities.

In 2018, R Fitness raised US$500,000 in seed investment from Intudo Ventures, East Ventures, and PT Prasetia Dwidharma.