India: CureFit raises $75m led by Accel at a valuation over $500m

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Less than a year after it raised $120 million, CureFit has received another infusion. The health and fitness startup has raised $75 million at over $500 million valuation in a series D round, led by existing investor Accel Growth.

The round also saw participation from existing investors Kalaari Capital and IDG Ventures India, along with a slew of new investors Anand Piramal Trust and Pratithi Investment Trust, according to regulatory filings sourced from data-intelligence platform Paper.vc.

This is the first tranche of the company’s ongoing series D round with lead investor Accel Growth pumping in around $30 million.

CureFit was founded in 2016 by Mukesh Bansal, who was the co-founder of fashion retailer Myntra, and Ankit Nagori, ex-chief business officer at Flipkart. Bansal and Nagori worked closely at Flipkart after the company bought Myntra in 2014. It now operates gyms under Cult.Fit, healthy food offerings under Eat.Fit, mental wellness through Mind.Fit and diagnostic centres through Care.fit.

The company has made several acquisitions since its launch almost three years ago and continues to follow the same route to expand. It recently launched an incubator programme for startups, which are in the business of creating healthy snacks and beverages. The idea is to invest $5 million across 10-12 startups in the next two years as it looks to co-create products as well.

The company last raised $120 million in June in a round led by Chiratae Ventures, Accel Partners and Kalaari Capital along with participation from Accel Partners US and Oaktree Capital.

Also Read:

Japan’s SBI Investment leads $17.2m funding in India’s healthtech firm mfine

India’s CureFit to launch incubator for healthy food startups

This article was first published on livemint.com.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.