Curefit, Indian-based health and fitness company has raised a total of $120 Mn fundings in Series D round in equity and debt funding.
The series saw the participation of some existing investors like Kalaari Capital, Chiratae Ventures, Accel Partners, and Oaktree Capital; and new investors- Unilever Ventures, Epiq Capital, Innoven Capital, and Kotak Mahindra Bank.
Curefit aims to use these fresh funds to expand in India and abroad.
Prior to this, the startup had raised $75 Mn from Piramal Group’s Anand Piramal, Kalaari Capital, Accel Growth, and IDG Ventures India. Curefit, to date, has raised around $365 million in multiple funding rounds.
Mukesh Bansal, the founder of Curefit, commented that
“Health habits of consumers has changed over the past few years, and the need for a new tech-driven approach is a need for a much better consumer experience. Curefit has created a unique platform and category to help meet this demand and to become the go-to destination for all health needs for India. Leveraging underground tech and strong on-ground network, we aspire to service over 100 Mn consumers over the next 10 years”.
For Case Study of Curefit
In 2016, Bengaluru-based Curefit was incepted by Mukesh Bansal, Myntra co-founder and ex-Flipkart executive Ankit Nagori.
The fitness startup uses online and offline models to curate physical and health fitness in the form of-
- Cult.Fit- Physical fitness
- Mind.Fit- Mental fitness
- Eat.Fit- Nutrition
- Care.Fit- A primary care vertical (coming soon).
Through its mobile app, they enabled users to sign up for new sessions and join classes.
The startup is backed by Hrithik Roshan and has gone through the acquisition-led strategy to expand its platform. Tribe Fitness, Seraniti, Kristys Kitchen, and a1000yoga were the startups acquired by the Curefit.
Curefit currently has over 180 Cult physical fitness centres spread across Chennai, Jaipur, Mumbai, Bengaluru, Hyderabad, and Delhi. The startup by 2020, aims to expand it to more 50 cities with 800 centres.
The Cult fitness platform also publicly stated of launching into the international market like Dubai centre.