In a statement, R Fitness, which was founded in April 2015, said the funding round was led by Sinar Mas Digital Ventures, Agaeti Ventures, and Intudo Ventures. East Ventures, RHL Ventures, Centre Park, and Sinar Mas Land also participated in the fundraising.
The latest funding comes after R Fitness raised US$500,000 seed investment from Intudo Ventures, East Ventures, and PT Prasetia Dwidharma.
Ride Jakarta has raised a total of $2M in funding over 3 rounds. Their latest funding was raised on Aug 20, 2019 from a Seed round. The company is funded by 8 investors. Sinar Mas Digital Ventures and East Ventures are the most recent investors.
Founded by current CEO Gita Sjahrir, R Fitness has introduced new products to meet the needs of Indonesian consumers. These products include Strong by Zumba, meditation, yoga, circuit training, and rotating specialised fitness courses, among others.
With the fresh funding, R Fitness seeks to promote and cultivate fitness- and wellness-drive lifestyles in Indonesia. The startup said proceeds from the financing will be used to set up a new Pod micro-studio format, hire additional staff, and develop new fitness offerings.
The Pod is the startup’s newest offering designed as an inclusive fitness experience for the mass market. It will offer an accessible fitness experience, based initially in key locations in Jakarta through Sinar Mas Land and Centre Park properties and parking facilities.
Sjahrir said the Pod format is designed in mind of the barriers to achieving health and wellness for Indonesia’s working class.
“By opening up access to fitness for more people, we hope to actively improve the lives of people around us. Fitness should be inclusive as a basic need for people to achieve health and wellness,” said Sjahrir.
By the end of this year, the company is expected to have five flagship studios throughout Jakarta to meet the rising demand from consumers.
Patrick Yip, founding partner at Intudo Ventures, the co-led investor in the latest funding round, said R Fitness is adopting new business models to address Indonesia’s unique local circumstances by introducing its Pod model.
“We are excited to support R Fitness’s evolution into a comprehensive fitness brand that can meet the health and wellness needs of more Indonesians across all members of society,” Yip said.