CureFit Healthcare, which operates health and fitness platform CureFit, raises USD 3.2M
Founders: Mukesh Bansal and Ankit Nagori
Founded in: 2016
Financing status: USD 3.2 million for undisclosed funding round in 2017
CureFit has raised USD 3.2 million in two separate portions in April and August 2017. The amount raised is a mix of debenture preferential shares and Series A convertible preferential shares. Investments were through Trifecta Capital, a venture debt firm, and Infosys co-founder Kris Gopalakrishnan’s Prathithi Investment Trust.
CureFit was founded in early 2016 by Mukesh Bansal and Ankit Nagori, both of whom left Flipkart to start this venture. Bansal, former head of Flipkart’s commerce platform, is also the founder of Myntra, an e-commerce startup, Nagori was the former chief business officer at Flipkart.
CureFit offers services through three different platforms, physical fitness through its cult.fit platform, health and nutrition through its eat.fit platform, and mental wellness through its mind.fit platform. As per Nagori, the startup aims to “address preventive healthcare through a combination of engagement, coaching and delivery using a mix of online and offline channels”.
As per Bansal, CureFit operated on a freemium model, meaning some of the offerings on its platforms will be available free of charge, while others will require purchasing. For example, some workout videos on cult.fit will be free, however users will have to pay to utilize the 10 Cult fitness centers throughout Bangalore. The fitness centers do not have equipment, rather users can choose from strength and conditioning workshops, mixed martial arts, boxing, zumba, and yoga classes among others Eat.fit offers recipes for free but charges users for food ordered off its platform. Eat.fit food delivery is only open to corporate employees. Whereas, the entire section of the mind.fit is available free of charge.
CureFit has been busy expanding its operations by engaging in acquisitions. It acquired Cult Fitness, offline fitness centers; a1000yoga, a yoga chain; Kristys Kitchen, a premium online food delivery startup; and holds a majority stake in The Tribe, a fitness chain.
(Top photo from Pixabay)