Healthtech startup CureFit raises $25mn in fresh funding

Healthcare and wellness startup CureFit has raised $25 million in a fresh round of funding as it seeks to expand its brand Cult, enter new markets and launch health related services.  The company has raised the funds from existing investors Accel Partners, IDG Ventures, Kalaari Capital and UC-RNT fund, a joint investment vehicle of the University of California and Ratan Tata's RNT Associates.

The new round is expected to go up to $35-40 million in the next six months. CureFit founders, who had already pooled in $5 million have also pumped more money in this round. CureFit will use this fresh funding to expand to new cities starting with Gurgaon, and will also look to add new product around medical check-ups and primary health care under CureFit brand by early 2018. In 2016, the startup had raised $15 million in one of the largest early-stage rounds in the Indian startup ecosystem.

CureFit, founded in 2016 by Myntra co-founder Mukesh Bansal and former Flipkart executive Ankit Nagori, is a platform to power healthy lifestyle and holistic cure across fitness, food, and mental well-being. It guides users in developing healthy habits and enables easy fulfillment of all health needs by removing any and every friction in the process. CureFit operates an online-offline model of fitness centers in Bangalore which is called Cult.

CureFit declined to comment on the fund raising talks.

In July, CureFit had announced the acquisition of Bangalore’s leading yoga brand – a1000yoga. This acquisition consolidates CureFit’s offering in the fitness segment and is a leap towards establishing their existing brand CultFit as the largest, one-of-its-kind holistic fitness training facility in Bangalore by the end of this year.