Generally, People are enthusiastic about health and fitness, but their lifestyle becomes so hectic that everyone does not manage to keep them healthy. Various People engaged across multiple health activities like Going to Gyms, Aerobic Classes, Yoga Sessions, etc. and maintained their healthy food lifestyle.
By taking this Health & Mental Fitness Approach, CureFit emerged in the world of Fitness. They offer a range of services, including (Cult.fit, Eat.fit, Mind.fit, Whole.fit, and Care.fit) and making an ecosystem of healthcare and fitness.
Furthermore, the Cure.fit application also sells sportswear, shoes and accessories under the CULTSPORT brand name. The company also introduced a vertical grocery delivery service called Whole.fit.
Previously, the platform was named Cure.fit and rebranded its app of the same name to Cult.fit in May 2021.
How it All Started?
Cure.fit was founded by Mukesh Bansal and Ankit Nagori back in 2016. The Duo are renowned Entrepreneurs E-commerce gurus making this venture into an astonishing Healthcare & Fitness sector idea.
Mukesh Bansal is also a well-known co-founder of Myntra, India’s largest online fashion platform, acquired later by Flipkart. Ankit Nagori, an IIT – Guwahati, is also a former Chief business officer of Flipkart, had decided to venture into the fitness industry. They both have one common aspiration towards one thing – their love of fitness.
After working at Flipkart, both Mukesh Bansal and Ankit Nagori decided to venture into the fitness industry and pursue their ambitions which needed combine technology and service into reliable servicing.
What Cure.fit is all about –
Cure.fit is an application specifically guiding its user’s healthy regime and provides a solution based on fitness training, healthy food deliveries, mental wellness and more.
The Application operations are mainly divided into four sections – Mind.fit, Cult.Fit, Eat.Fit and Care.fit.
CultFit is a fitness centre that provides martial arts training, Zumba, yoga, boxing, etc. EatFit provides curated meals and a subscription-based food delivery platform for complements to lose weight or gain. While MindFit is for mental wellness, and finally, CareFfit offers access to trained healthcare professionals.
CureFit – Fundings & Acquisitions
Cult.fit raised its first funding in April 2016 of around $55 million in the initial six rounds. Later, in 2017, Cult.fit manages to raise $3 million from RNT Capital and in another venture round of funding 0f $60 million by Brun Raschle, Endiya Partners.
By March 2020, Cult.fit manages to raised over $400 million in a different round of series funding by Accel Partners, IDG Ventures, and Temasek Holdings, Kalaari Capital, alongside participation from Chiratae Ventures and Oaktree Capital.
In the recent announcement in June 2021, Tata Digital (Subsidiary of Tata Sons) will invest $75 Million in Cult.fit.
With their latest funding, the companies total funding has raised a total of $479.6M.
CureFit has acquired nine companies, including some prominent startups like Kristy Kitchen, The Tribe, Opinio, a1000Yoga (Bengaluru based yoga centre), Onyx (California based digital fitness company), and the most recent acquisition was TREAD on Jun 10, 2021.
According to insight firm Tracxn, CureFit current valuation stands at $815 million.
CureFit Growth & Success –
CultFit began as a niche fitness brand in Bengaluru with just three centres initially. It has slowly grown and partnered with small businesses and has increased its value and market over the years.
The company has now located at multiple locations in Bengaluru, Mumbai, Delhi, Chennai, Pune, Hyderabad and many more. They are also expanding their business outside India with centres in the US and Dubai. The company also has plans to enter other regions, including the Middle East, Southeast Asia, West Asia, Europe, and North America.
According to Report in thehindubusinessline, CureFit has a collective user base of over 3 million and empowers more than 5,000 fitness centres spread across India.
The company also adds valuation through their marketing strategies. Advertising endorsements with Big Bollywood Stars like Hrithik Roshan, Tiger Shroff, and Cricketer K.L. Rahul helped them succeed in the market.
Conclusion
CultFit emerges as a Fitness brand that gains unprecedented success in the sector of Health and Fitness in India. They aspire their audiences with the present change in the approach to living their lives and setting their goals towards well-being.
Continued growth and their plan to extend their services to different sectors will drive them towards their goals in the coming years.
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