Zomato acquires sports platform Fitso in a deal worth up to $13.7m, report says

Zomato reportedly bought Fitso in a cash-and-equity deal worth about 800 million rupees (US$11 million) to 1 billion rupees (US$13.7 million). The deal, which is also said to involve Fitso’s team joining Zomato, has already been internally announced by the Gurugram-based company, said one of the sources.

Zomato has not responded yet to Tech in Asia‘s request for confirmation.

Launched in 2015, Fitso provides membership access to sports facilities. Through its subscription model, users on the platform can choose a sport and book a time slot for an exercise or training session at the nearest facility.

In September 2019, the startup raised US$1.5 million in a pre-series A round led by SRI Capital. Other investors in the company include IPV Capital, Sprout Capital, and Zomato co-founder Pankaj Chaddah.

News of the supposed acquisition comes months after Zomato banked US$102 million from US-based Tiger Global Management amid a gradual recovery in India’s food delivery scene. If confirmed, it would mark Zomato’s first acquisition since buying UberEats last year.

Zomato CEO Deepinder Goyal has also signaled the possibility of the food delivery company going public in the first half of 2021 in an emailed statement to his employees.