MyFitness Startup Deep Dive: Business Model, Funding, Risks

Startup Deep Dive : MyFitness — FY25 revenue reported at Rs 142.7 crore with a net loss of Rs 19.5 crore

MyFitness (operated through Tanvi Fitness Pvt Ltd) is a Silvassa-based Indian peanut butter brand, acquired by e-commerce brand aggregator Mensa Brands in 2022.

This Startup Deep Dive explains what MyFitness does, how it makes money, who backs it, how it compares with rivals and what could go wrong, using publicly available information. It is educational and not investment advice. Last updated: October 2026.

MyFitness in Brief

What it is: MyFitness is an Indian Peanut butter and health foods D2C company based in Silvassa.
Who it serves: businesses, institutions, consumers, learners and public-sector buyers.
Sells peanut butter in natural, chocolate, high-protein and pink salt with brown sugar variants
Claims 95% less oil separation in its natural peanut butter (company claim)
Sells B2B and B2C, including through Amazon and Flipkart
Funding: About $1 million seed round (2021).

MyFitness Quick Facts

Company	MyFitness
Founded	2018
Headquarters	Silvassa
Founders	Mohammad Patel, Rahil Virani
Sector	Peanut butter and health foods D2C
Total funding	About $1 million seed round (2021)
Latest round	July 2021 seed round of about $1 million led by 9Unicorns
Valuation	Not disclosed
Website	Not disclosed

Figures marked “reported” come from published reports and may differ between sources; “Not disclosed” means no reliable public figure was found.

What Is MyFitness?

MyFitness operates in the Peanut butter and health foods D2C space in India. Understanding a company like this starts with three questions: who is the customer, what painful problem is being solved, and why the solution is better than the alternatives. The sections below apply that lens to MyFitness.

Sells peanut butter in natural, chocolate, high-protein and pink salt with brown sugar variants
Claims 95% less oil separation in its natural peanut butter (company claim)
Sells B2B and B2C, including through Amazon and Flipkart
Brand run through Tanvi Fitness Pvt Ltd, a sister concern of the export house Super Nutri Foods

The Origin Story of MyFitness

Every company starts from a noticed gap and a team willing to commit to closing it. Strong origin stories are specific: a clear problem, a founding team with relevant skills, and an early product that real customers could test. Founder-market fit, meaning the team’s lived experience or technical depth in the domain, tends to predict how fast a young company learns.

Founders: Mohammad Patel, Rahil Virani.
Founding year reports differ: 2018 (feature profile and dealroom), 2019 (news reports), 2016 and 2009 on other databases
Founders Mohammad Patel (CEO) and Rahil Virani (CMO/CBO); a profile also names Fazal Lakhani and Poojan Shah as part of the team
Built on the founders' families' peanut export network for supply chain, warehousing and logistics
Aimed to launch India's first premium peanut butter brand for the domestic market

Key Milestones and Challenges

No startup grows in a straight line. Early years usually involve slow adoption, product rewrites, hiring mistakes and funding gaps. In the Peanut butter and health foods D2C sector the common turning points are a first paying customer, a regulatory approval, a successful product demonstration or a funding round that lets the team invest ahead of demand. How a team responds to setbacks says more about resilience than any single headline.

2018 or 2019: founded in Silvassa
July 2021: raised about $1 million seed led by 9Unicorns
September 2022: acquired by Mensa Brands
FY24: reported EBITDA profitable under Mensa Brands, with eyes on the US market
FY25: revenue about Rs 142.7 crore (aggregator estimate)

MyFitness Funding and Investors

Funding history shows how much outside confidence a company has attracted and how long it can operate before needing more capital. Figures below are reported and may differ between sources; valuation figures are estimates unless the company has confirmed them.

July 2021: about $1 million seed led by 9Unicorns, with angels including Ashutosh Valani and Priyank Shah (Beardo co-founders), Arjun Vaidya (Dr. Vaidya's) and Sharad Jain and Shreyans Jain (Nutrabay); funds meant to reach an annual revenue run rate of Rs 100 crore

How Does MyFitness Make Money? (Business Model)

A business model describes who pays, how often and how much it costs to serve them. Strong models show repeat usage, improving margins with scale and acquisition channels that do not depend only on paid spend. Weak models show one-off sales, rising costs and growth that stops when spending stops. For companies selling to businesses, institutions, consumers, learners and public-sector buyers, sales cycles and contract size matter as much as headline growth.

B2B and B2C sales across marketplaces
Exclusive arrangements with online retailers for Amazon and Flipkart supply
Celebrity and creator marketing campaigns
Now part of Mensa Brands' portfolio

The Numbers: MyFitness Financials

Financial figures show whether growth is turning into a self-sustaining business. Small and private companies often disclose little, so any number below is included only if it was found in public reporting.

FY24: revenue about Rs 125.2 crore (aggregator estimate)
FY25: revenue about Rs 142.7 crore, up about 14%; net loss about Rs 19.5 crore; estimated EBITDA loss about Rs 15.5 crore; total expenses about Rs 162.2 crore (aggregator estimate)
FY24 EBITDA reported as profitable in a headline, figure not stated; reports differ with FY25 EBITDA loss

Market Opportunity for MyFitness

Market size is easy to exaggerate, so a useful approach separates the total market from the portion a company can realistically reach with its current product and distribution. The main forces behind demand in this sector are rising digital adoption, cloud and mobile penetration, growing enterprise technology spending, government digitisation programmes and a deep pool of engineering talent. Each of these widens the opportunity, but capital efficiency and execution decide who captures it.

Indian peanut butter and health foods market
Company eyed entry into the US market

Technology and Product at MyFitness

Technology is rarely the whole moat, but it drives speed, cost and customer experience. A practical way to assess it is to separate the capability the company controls from the commodity infrastructure it rents. In this sector the important factors are product quality, data and integration depth, security, scalability and the speed of shipping improvements.

Core capability: Public detail on MyFitness’s technology stack is limited beyond company-stated descriptions.
Assessment lens: product quality, data and integration depth, security, scalability and the speed of shipping improvements.

Team and Culture at MyFitness

Teams are the most important and least measurable asset of a young company. Look at how complementary the founders’ skills are, how deep the second layer of leadership is, and how the company hires and retains specialists. Culture shows up in small repeated behaviours: how quickly bad news travels upward and whether commitments to customers are kept.

Team grew to 55 members about four years after founding
CEO Mohammad Patel; CMO Rahil Virani

MyFitness Competitors: Competitive Landscape

A fair competitive analysis names direct rivals, adjacent players who could move into the space, and the customer’s default alternative. Durable advantages include proprietary data or technology, licences and approvals, brand trust, switching costs and cost leadership.

Direct competitors of MyFitness vary by product line; a verified rival comparison was not available from public sources.
What to compare: Product readiness, pricing, customer base, funding runway and regulatory standing.

Risks and Challenges for MyFitness

Net loss in FY25 under parent Mensa Brands
Dependence on online marketplaces
Competition: low barriers to entry and well-funded rivals can compress pricing and slow growth.
Funding risk: technology businesses often burn cash before reaching profit and depend on investor appetite.
Customer concentration: reliance on a few large customers or channels can make revenue volatile.

Risk is not a reason to avoid a company; it is a reason to price it correctly and to monitor the right indicators over time. Regulation in this sector is shaped by data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules.

MyFitness Growth Outlook: What to Watch

Eyed entry into the US market per a headline
Key indicators: recurring revenue, customer retention, gross margin, customer acquisition cost and runway.
Funding position: Whether MyFitness can reach its next milestone before needing new capital.
Regulation: Changes from data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules.

Industry Context: Where MyFitness Fits

India's technology startup ecosystem is one of the largest in the world, supported by cheap data, a large base of smartphone users, digital public infrastructure and a deep engineering talent pool. Companies now build for education, software, mobility, logistics, agriculture, defence, media and more, selling both to Indian customers and abroad.

Durable technology companies usually combine a clear customer problem with repeatable distribution and disciplined unit economics. Growth funded only by spending tends to fade, while products that customers keep using and paying for build compounding advantages.

For readers new to this field, a useful habit is to separate announcements from evidence. A plan, a partnership or a funding headline describes intent, while a delivered product, a paying customer or an audited financial statement describes results. Comparing the two over time shows how reliably a company turns promises into outcomes.

Bull Case and Bear Case for MyFitness

An investment thesis is a short, testable statement of why a company could become far more valuable, together with what evidence would prove it wrong. The points below are general to this sector and are not forecasts for MyFitness.

Bull case

A large and growing base of digital users and businesses expands the addressable market.
Recurring revenue and strong retention can compound growth.
Selling into global markets widens the opportunity beyond India.

Bear case

Heavy competition can compress pricing and margins.
Dependence on external funding can force painful cost cuts.
Regulation or platform changes can disrupt a product quickly.

Lessons Founders and Investors Can Take from MyFitness

Studying a company in the Peanut butter and health foods D2C space offers lessons that go beyond any single firm. The points below are general lessons for the sector and are not claims about MyFitness.

Solving a clear, frequent customer problem matters more than adding features.
Retention and repeat usage are better health signals than sign-ups.
Disciplined spending extends runway and keeps options open when funding tightens.
Distribution, not just product quality, decides who wins in crowded markets.
Building trust through data protection and reliability is part of the product.

How to Evaluate MyFitness as a Startup

Customer clarity: Can MyFitness name its customer and the problem it solves in one sentence?
Evidence of demand: Look for repeat customers, signed contracts or measurable usage rather than announcements alone.
Economics: Check whether margins improve as volume grows.
Execution: Compare announced timelines with what has actually been delivered.
Funding runway: Estimate how long current capital lasts at the present spending rate.
Regulatory standing: Confirm required approvals are in place.
Customer concentration: Check whether a few customers account for most of the revenue.
Management depth: Look for experienced leaders beyond the founders and a stable core team.

The Takeaway

MyFitness is part of India’s growing Peanut butter and health foods D2C ecosystem. The useful lesson from studying it is the discipline of asking structured questions about customers, economics, advantage and resilience. Companies that answer them well, repeatedly and under pressure are the ones that endure. Readers should treat any single report, ranking or funding headline as one input among many, and should re-check key facts against recent company announcements. Because public information on young companies is often limited, patience in verifying claims is part of good analysis. Public sources can also describe the same company in different ways, so it is worth checking dates, definitions and whether a figure refers to revenue, total income or transaction value, and whether it covers one entity or a wider group, before drawing conclusions. Small differences in rounding, currency conversion or reporting periods can also change how a figure reads. Comparing the same figure across several recent reports helps show whether it is stable or has changed over time. This article is educational and is not investment advice.

Clear customers and repeat demand matter more than announcements.
Regulation and capital needs shape how fast a startup in this sector can grow.
Track a few leading indicators over time rather than one headline metric.

MyFitness FAQs: Frequently Asked Questions

What is MyFitness?

MYFITNESS (operated through Tanvi Fitness Pvt Ltd) is a Silvassa-based Indian peanut butter brand, acquired by e-commerce brand aggregator Mensa Brands in 2022. It is profiled in the Startup Deep Dive series, which explains business model, funding, competitors and risks.

Who founded MyFitness?

MyFitness was founded by Mohammad Patel, Rahil Virani, and the company reports a founding year of 2018.

How much funding has MyFitness raised?

About $1 million seed round (2021). Funding figures are reported and may differ between sources, so readers should check the latest company announcements.

How does MyFitness make money?

MyFitness earns revenue from its Peanut butter and health foods D2C products and services sold to businesses, institutions, consumers, learners and public-sector buyers. The exact revenue mix is described in the business model section and is not fully disclosed publicly.

Who are the competitors of MyFitness?

Competitors of MyFitness depend on the specific product line. A verified comparison was not available, so see the evaluation checklist above.

What are the main risks for MyFitness?

Main risks include competition: low barriers to entry and well-funded rivals can compress pricing and slow growth, funding and capital needs, competition and regulation by data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules. This is educational content, not investment advice.

Source

Source: Publicly available data, published reports, industry research, and other credible sources.