Bengaluru-based health and fitness startup Curefit has raised ₹823.8 crores ($120 million) in series C funding led by IDG Ventures, Accel Partners and Kalaari Capital. Other investors that participated in the round included Chiratae Ventures and Oaktree Capital, along with Accel’s Growth fund and the new funds of Chiratae. Existing investor UC-RNT did not participate.
The current funding brings the total funding in the startup to about 1,167 crores ($170 million).
The fresh capital will be used to strengthen its technology platform by offering AI- driven health planning, create its own fitness devices, and will also look to expand to newer markets, such as in Southwest Asia in 12-15 months.
Curefit was founded by Ankit Nagori and Mukesh Bansal in 2016. It provides an innovative combination of online and offline health management platform for consumers. Curefit provides various products like care.fit, eat.fit, mind.fit, cult.fit to provide a comprehensive fitness platform to help its consumers improve their quality of life.
“Health is over $100 billion category in India and is ready for a new tech-driven approach for much better consumer experience. With very high health awareness and rapid technology adoption among consumers, Cure.fit has a unique opportunity to become the go-to destination for all health needs for India,” said, Bansal, Co-founder, Curefit.
Curefit has more than 75 cult and mind centres, it plans to establish over 500 centres in the coming three years. It has a presence in Bengaluru, Delhi-NCR, along with its recent expansion into Hyderabad. The startup claims to have over 100,000 regular users across various products.
With the growing middle class and increasing incomes, the health industry is set to grow with an increased awareness regarding the health and fitness among the youths of the country.
In recent news, Gympik had raised ₹6.5 crores from RoundGlass Partners.