CureFit, an early-stage healthcare and wellness startup is currently in talks with Ratan Tata and Bollywood actor Hrithik Roshan for a fresh fundraise. The venture is a brainchild of Mukesh Bansal and Ankit Nagori, both former Flipkart executives.
Till date, CureFit has nabbed about $20 million from a cohort of venture capitalists including Kalaari Capital, Accel Partners, and IDG Ventures. The company is also looking for an investment round which will push $15-20 million in CureFit’s treasure. Ratan Tata, who is already an angel investor in CureFit might also channelize investments in this upcoming round. But, the transaction is yet to be finalized, reports ET Tech.
Roshan has also worked with Bansal in Myntra for his lifestyle brand HRX. The actor’s own signature workout brand will be further launched officially next month in the startup’s gym centre, Cult. CureFit invested about $3 million in acquiring a controlling stake in Bengaluru-based fitness company Cult. However, Cult – The Workout Station continues to exist and operate as an independent brand. The Bengaluru-based venture presently boasts of 8,000 customers with eight operational centres.
About a year ago, the health-tech company raised $15 million in Series A investment round led by Accel Partners, IDG Ventures and Kalaari Capital. This would be hence the second most significant raise for the venture aiming to provide state-of-the-art health and fitness solutions. Both the founders of the company have also put in their personal capital, pooling in $5 million the last April.
Until now, the company has acquired three startups in the fitness and mental health space. The company operates four services — CureFit Logistics, New World Inventions, CureFit Healthcare and Curefoods — all dealing with healthy lifestyle and wellness solutions. As per a recent survey, the Indian healthcare market will likely grow to $280 billion by 2020 which is currently estimated at $100 billion.
We’ve contacted CureFit for more information and will update you once we hear back from them.
