Health and fitness start-up Cure.fit announced today that it has raised $120 million in the series C round of funding. Led by IDG Ventures, Accel Partners and Kalaari Capital with participation from Chiratae Ventures and Oaktree Capital*, this is the 3rd round of funding for the two year old start-up. The fresh investment will enable Cure.fit to strengthen technology platform, invest in building a national brand and scale the geographical footprint for the company’s four flagship products – Cult.Fit, Eat.Fit, Mind.Fit and Care.fit.
Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cure.fit, one of India’s highest funded start-ups, is building world's first integrated health platform that brings together all aspects of healthy lifestyle on one platform. Curefit has built an innovative tech platform to manage every day health through connected health devices and built an offline fulfilment network for all its services.
The flagship offering Cult.fit provides a large variety of trainer driven group workouts that make fitness fun and easy. Eat.fit delivers health food in a subscription model that is tasty, healthy an d nutritious making it super easy to eat healthy food every day. Mind.fit helps solve mental health issues like stress, anxiety, sleep disorders etc. through combination of Yoga, Meditation and Therapy. Care.fit is the latest offering enabling primary care and health check-ups for proactive health management.
With presence in Bengaluru, Delhi-NCR region, and the recent foray in Hyderabad, Cure.fit’s innovative and holistic approach has been adopted by over 100K active subscribers across various offerings with strong cross usage between services. Cure.fit has over 75 CULT and Mind centers and aims to grow this to over 500 centers in next 3 years. Eat.fit is servicing over 10K meals/day now and doubling every 3 months.
Mukesh Bansal commented, "Health is over $100 billion category in India and is ready for new tech driven approach for much better consumer experience. With very high health awareness and rapid technology adoption among consumers, Cure.fit has a unique opportunity to become the go to destination for all health needs for India. Leveraging deep tech and strong on-ground network we aspire to service over 100 million consumers over next 10 years"
Ankit Nagori, added, "Customers love Cure.fit products and services. With NPS of 65, we are among the highest rated consumer offerings in India. We have cracked the model to scale profitably with our robust unit economics. Our focus now is to further our reach and deliver a more holistic customer experience"
Curefit investors have backed the company in each round since inception. There is strong conviction among the investors that Curefit has pioneered a unique model that is highly profitable and scalable. Curefit product timing also aligns with major tech driven disruption in health care globally as Health is all set to be a massive consumer mega-trend in next decade. "With rapid increase in lifestyle diseases and health awareness in India, Cure.fit offering is timed to perfection. This is going to be among the largest consumer category and Cure.fit has already established significant lead in this space" said Sudhir Sethi, Founder and Chairman of IDG ventures & Chiratae Ventures.
Subrata Mitra, partner at Accel and a board member added "Cure.fit has assembled one of the best start-up teams in India and the level of execution in just first two years is unprecedented. We are backing Cure.fit to be a pioneering global product company."
"The level of quality obsession and drive to deliver outstanding customer experience everyday is what makes Curefit a truly customer centric company which is what makes Customers love Curefit offerings" added Vani Kola, Managing Director at Kalaari Capital.
Cure.Fit Healthcare Pvt Ltd is a holistic integrated healthcare platform headquartered in Bangalore. Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cure.fit aims to address preventive healthcare through a combination of engagement, coaching and delivery using a mix of online and offline channels. Cure.fit caters to living a healthy life through four primary verticals- Cult.fit, Eat.fit, Mind.fit, & Care.fit covering finess, food, mental health & primary care respectively.
Cure.fit is app is available on Android and IoS. For more information on Cure.fit visit our website https://www.cure.fit/
*Oaktree Capital are funds managed by Oaktree Capital Management, L.P.