CureFit goes live; raises $3mn from Ratan Tata backed-fund and Silicon Valley angels

Bangalore-based CureFit Healthcare Pvt Ltd has secured $3 million in fresh funding from UC-RNT Fund- a joint venture between Ratan Tata’s RNT Associates and the University of California- and Silicon Valley angels.

Other investors who participated in the round include Gokul Rajaram, product engineering lead at US-based mobile point of sale provider Square; Aditya Agarwal and Ruchi Sanghvi, vice presidents of engineering and operations, respectively, at file sharing application firm Dropbox; and Shishir Mehrotra, former vice president of product, engineering and UX at YouTube.

Founded by former Flipkart executives — Mukesh Bansal and Ankit Nagori in May 2016, the platform has also made its official debut via a mobile app, cure.fit, a company statement said. The startup is employing a mix of online and offline channels to market its healthcare and wellness initiatives.

The startup has so far raised over $18 million from marquee investors such as Kalaari Capital, Accel Partners, and IDG Ventures.

“We are offering an integrated solution to users in three areas -fitness, food and mental health. We started off with our fitness offering of Cult, which now has 5,000 paid subscribers,” Mukesh Bansal said in a statement.

Available on iOS and Android, the company has three different offerings: cult.fit focuses on physical fitness, eat.fit is centred around healthy and nutritious food, and the third part has mental wellness offerings and is called mind.fit, the statement added.

CureFit will operate on a freemium model, Bansal said. “While some of the DIY (do it yourself) videos on working out from home in cult.fit will be free of cost, users will have to subscribe and pay offline for the 10 Cult fitness centres in Bangalore. Likewise, the health recipes on eat.fit are free, while users will have to pay for health foods available on its platform. The entire section of the mental health platform, which is mostly DIY videos on meditation, is also available free of cost to users,” he explained.