Bengaluru-based health and fitness startup Cure.fit has raised INR 832 crore (USD 110 million) led by Singapore’s sovereign wealth fund Temasek, with participation from two new investors, GableHorn Investments and Ascent Capital.
According to its regulatory filings with the Ministry of Corporate Affairs, existing investors such as Accel, Chiratae Ventures, including a handful of others have also participated in the latest funding round. While Accel put in INR 107 crore (USD 14 million), Chiratae Ventures pitched in with INR 14.26 crore (USD 1.9 million).
Before this round of investment, Cure.fit had raised USD 120 million in Series D round last year. To date, the company has raised a total of USD 405 million in venture capital.
Launched in 2016 by Ankit Nagori and Mukesh Bansal—founder of online apparel company Myntra that got acquired by Flipkart—Cure.fit wants to be a pitstop for all health and fitness related needs. All the services provided by Cure.fit revolves around these two themes.
Eat.fit is a food delivery branch that offers healthy food, Mind.fit provides yoga and meditation classes, Cult.fit is a subscription-based chain of gymnasiums, and Care.fit is a chain of diagnostic centers. Apart from diagnostics it also has online doctor consultation services as well as nutritionist consultation. It is present in 22 cities in India with a presence in Dubai as well.
The company is in expansion mode and recently launched its own line of grocery products called Whole.fit. Its new grocery arm curates products such as staples, dairy, instant food, and bakery among others. The company also sells apparel and accessories related to workouts including yoga gears.
With the ongoing spread of COVID-19 cases in India, online grocery is one of the services that are in demand. Although it’s not known for delivering groceries, this could be a good time for the company to promote its new vertical. It has shut all the gymnasiums in the country and moved the yoga and meditation classes online