Bengaluru-based fitness startup CureFit has raised $25 Mn in Series B round of funding from existing investors Accel Partners, IDG Ventures, Kalaari Capital and UC-RNT fund.
The startup will use the newly raised funds to expand the company’s geographical footprint in the country and scale-up its business verticals.
Vani Kola, Managing Director at Kalaari Capital said, “CureFit has built a very strong team in the last one year and delivered a significantly differentiated value proposition for Cult.fit and eat.fit. CureFit has established a strong product-market fit and is ready to start scaling the business across other health offerings and cities across India.”
Founded in March 2016 by Mukesh Bansal and former Flipkart CBO Ankit Nagori, the startup offers integrated health and fitness solutions. The startup provides these solutions through three verticals – Cult.Fit, Eat.Fit and Mind.Fit via online and offline channels.
In July 2016, CureFit raised $15 Mn in Series A round from Kalaari Capital, Accel Partners, and IDG Ventures. In May 2017, the startup secured another $3 Mn from angel investors and UC-RNT fund. The latest round took the total funding to $45 Mn.
Curefit has been on a wave of expansion over the last one year. The startup took over Bengaluru-based CULT for $3 Mn as well as Tribe Fitness to accelerate its vertical Cult.fit, a chain of fitness centres offering trainer-led unique, group workout formats. Then in January 2017, it also acquired mental health firm Seraniti for an undisclosed amount. Later in March, CureFit forayed into the health-food domain with the acquisition of Kristys Kitchen to bolster its subscription-based handcrafted, nutritive food delivery vertical Eat.fit. In July the fitness startup took over Bengaluru-based yoga studio a1000yoga to strengthen the mindful yoga and meditation vertical.