Dick Costolo
Former Twitter CEO, Dick Costolo will also be joining Index Ventures as an investment partnerImeh Akpanudosen/Getty Images for CoachArt

The former CEO of Twitter, Dick Costolo, is moving on to a variety of new projects after his much publicised departure from the social media giant in June 2015, amid concerns over its growth. Costolo tweeted about the projects he plans to work on next.

Apart from a launching a fitness startup with Bryan Oki – co-founder of corporate fitness software company Fitify, and former CrossFit employee – he would join Index Venture as an investment partner.

Explaining about the idea behind the project, Costolo said, "This platform will go beyond measurement to motivate and drive improvement and make the road to personal transformation fun and social."

He explained that the new platform would "be the easiest and most flexible way to extend expertise and guidance by orders of magnitude" for wellness professionals, from fitness coaches to physical therapists and nutritionists.

Following his exit from Twitter in October 2015, Costolo has kept a low profile and started working with HBO on their series Silicon Valley.

Along with his return to technology industry, the internet entrepreneur announced that he will also be joining venture capital firm Index Venture, which has funded startups like DropBox, Etsy and Sound Cloud. Costolo plans to invest in new companies as a venture partner with the firm.