Fitness startup CureFit bags worth $120 million from group of investors

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Days after expanding its reach to Dubai, CureFit, a fitness startup has raised worth $120 million (approx ₹800 crore) in series D round funding, cited Inc42. The round was led by the startup’s existing investors Chiratae Ventures, Accel Partners, Kalaari Capital, and Oaktree Capital.

While, other investors that were the part of the round were Unilever Ventures, Epiq Capital, Innoven Capital, and Kotak Mahindra Bank. The company will use these fresh funds to boost its expansion plans in India and abroad.

“Health habits of consumers has changed over the past few years and the need for 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 deep tech and strong on-ground network, we aspire to service over 100 Mn consumers over next 10 years”, Mukesh Bansal, founder of CureFit said.

CureFit was founded in 2016 by Mukesh Bansal, who sold Myntra for over $300 million to Flipkart in 2014.

The company started with fitness chain Cult.Fit and then also expanded into food delivery platform Eat.Fit, diagnostic services unit Care.Fit and wellness unit Mind.Fit.

Whereas, the total funds raised by CureFit till date is abourt $365 million over multiple funding rounds. Last month, the company had last raised $75 Mn from Piramal Group’s Anand Piramal, Accel Growth, Kalaari Capital, IDG Ventures India.

Furthermore, at present, the company to have over 180 Cult physical fitness centres and around 35 Mind.Fit centres spread across six Indian cities including Mumbai, Chennai, Jaipur, Bengaluru, Delhi NCR, and Hyderabad. It’s looking to expand to 50 Indian cities with 800 centres by 2020.

While, few days ago, the company announced its foray into international market with launch of its services in Dubai. 

Moreover, the company claimed to to have 500K active Curefit subscribers along with Eat.fit servicing over 35K meals per day.

Some major players in the health, fitness and wellness space are startups such as Stratfit, GrowfitterFitnapp, and HealthifyMe.

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