East Ventures-Backed The FIT Company Acquires Three Wellness Startups
19 July 2019
East Ventures-backed The FIT Company announced on Thursday that it has acquired three local startups, namely Slim Gourmet, Wellnez Indonesia, and FITCO in an effort to develop a wellness ecosystem in Indonesia.
The Fit Company, headquartered in Indonesia, focuses on active and healthy lifestyle services. It operates 5 business units such as Kredoaum (fitness tech distributor), 20Fit (microgym), Fitstop (gym), Fit Lokal (healthy food restaurant), and Fitmee (instant noodles made from konjac).
“Not everyone is ready to switch to an active and healthy lifestyle in order to achieve this. This is the role of The FIT Company, which is to create a wellness ecosystem that is easily accessible to the public, especially for those who want to live an active and healthy lifestyle easily and comfortably,” The FIT Company chief executive and co-founder Jeff Budiman said in a statement.
The FIT Company acquired Slim Gourmet, a healthy catering service startup, in April this year. Slim Gourmet is supported by five chefs and supervised by certified nutritionists.
Besides Slim Gourmet, The FIT Company also acquired Wellnez Indonesia, which was established last year. Wellnez has a database of 50 coaches throughout the archipelago. It currently has 2,000 active users.
Meanwhile, FITCO is a platform that offers incentives to pedestrians. Its service is designed to record the number of steps pedestrians take and thereafter rewards them with incentives after achieving certain steps at a certain level.
In the third quarter of this year, The FIT Company plans to launch an application that will integrate all its wellness-based business services. Through the app, users are able to choose any services available, including picking for healthy catering dishes and choosing their private sports coaches.
The FIT Company secured an undisclosed amount of seed funding from early-stage venture capital East Ventures in early 2019. The company has allocated the funding to build a tech-enabled ecosystem of wellness products and services.
East Ventures previously announced to lead $1.3 million funding in Indonesian agritech startup Kedai Sayur, and also backed marketing SaaS startup Feedloop.
Source: Dealstreet Asia