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Healthcare and fitness startup, CureFit has acquired Kristys Kitchen for an undisclosed amount in a cash and stock deal.
Founded by Cristina Maiorescu, Cedric Carvalho, and Sumit Sinha in September 2016, Kristys Kitchen is an online health-food delivery startup based out of Bengaluru. At the time of acquisition, the startup reported a high customer retention rate and was operationally cash-positive, delivering over 250 orders per day from their kitchen in the Marathahalli area.
Post the transaction, Cristina and co-founder Cedric, along with all other employees will join CureFit’s team.
Commenting on the recent acquisition, Cristina Maiorescu, founder of Kristys Kitchen, said: “We believe we have developed a great product that now will be taken to scale with the help of CureFit. Both companies’ values and long-term vision are in sync.”
Founded by former Flipkart executives Ankit Nagori and Mukesh Bansal, CureFit is a Bengaluru-based healthcare startup that provides services such as fitness advice and medicine deliveries to its users.
This raises a question that why would a fitness startup acquire a food delivery startup? It can either be a part of CureFit’s plan to enter into food delivery or providing healthy-food options at its fitness centres. Only time will tell.
Earlier in February 2017, the startup had acquired a majority stake in The Tribe, a Bengaluru-based chain of fitness centres.
Backed by Kalaari Capital, Accel Partners and IDG Ventures, the company raised $15 Mn in Series A round of funding last year in July. After this investment, in August 2016, the startup invested $3 Mn (INR 21 Cr) in Bengaluru-based healthcare startup CULT. CureFit now owns a majority stake in the startup, but CULT continues to operate independently.
Major competitors in the space include include HealthifyMe, GimPik, and Gymer, among others. Other key players ruling the healthcare segment include Practo, Portea Medical, and GOQii.
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