Health and fitness startup Cure Fit Healthcare Pvt Ltd on Tuesday said it has closed its $120-million Series D round by raising additional $45 million this month, led by existing investors Chiratae Ventures (formerly IDG Ventures), Accel Partners, Kalaari Capital, and Oaktree Capital.
The startup had raised $75 million at over $500-million valuation as part of the Series D round led by Accel Growth last month. The round had also seen participation from existing investors Kalaari Capital and IDG Ventures India, along with a slew of new investors Anand Piramal Trust and Pratithi Investment Trust.
Prior to this, it raised $120 million in a Series C round led by IDG Ventures and Accel Partners.
CureFit aims to utilise the fresh investment for its expanding operations in India and globally. It is currently present in Bengaluru, Mumbai, Delhi-NCR region, Hyderabad, Chennai, and Jaipur. It also recently forayed into Dubai.
“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. Cure.fit 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 million consumers over the next 10 years,” co-founder Mukesh Bansal said.
Founded in 2016 by Myntra cofounder Mukesh Bansal and former Flipkart executive Ankit Nagori, CureFit’s operations span gyms (Cult.Fit), diagnostic centres (Care.fit), healthy food (Eat.Fit) and mental wellness (Mind.Fit).
Cure.fit claims that its services have been adopted by over 500,000 active subscribers across various offerings. It has over 180 Cult.fit centres, 35 Mind.fit centres and aims to grow this to over 800 centres by 2020. Eat.fit is servicing over 35,000 meals/day now and doubling every three months.
CureFit has also been quite active on the acquisitions front.
In April, the startup announced that it has acquired cold-pressed juice brand Rejoov for an undisclosed sum. Its past acquisitions include boutique fitness brands Cult and The Tribe, yoga chain a1000yoga as well as Bengaluru-based Kristys Kitchen. Its close competitors include HealthifyMe, Fitcircle, Grow Fit, Fitpass, and Gympik.
Its close competitors include HealthifyMe, Fitcircle, Grow Fit, Fitpass, and Gympik.