In Series C Funding, Cure.Fit Elevations $120 Million

By SiliconIndia   |   Wednesday, August 1, 2018
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raising, a Health & fitness start-up has raised $120 million in the series C round of funding. The 3rd round of funding for the two-year-old start-up is led by IDG Ventures, Accel Partners and Kalaari Capital with participation from Chiratae Ventures and Oaktree Capital. The raising will facilitate in enhancing technology platform, invest in building a national brand & scale the geographical footprint for the company’s four flagship products namely Cult.Fit, Eat.Fit, Mind.Fit& offers a wide range of trainer driven group workouts that make fitness fun and easy, delivers health food in a subscription model that is tasty, healthy & nutritious making it super easy to eat healthy food every day, and helps solve mental health issues like stress, anxiety, sleep disorders, & more with integration of Yoga, Meditation and Therapy. Moreover, is servicing over 10K meals/day now and doubling every 3 months. The latest offering enables primary care and health check-ups for proactive health management.

Commenting on the occasion, Mukesh Bansal, founder- says, "Health is over $100 billion categories in India and is ready for a new tech-driven approach for much better consumer experience. With very high health awareness and rapid technology adoption among consumers, 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”.

One of India’s highest funded start-ups building world's first integrated health platform to integrate all aspects of a healthy lifestyle on one platform, was established by MukeshBansal&AnkitNagori in 2016. With an innovative tech-savvy platform & offline fulfillment network, manages daily health through connected health devices as well as offline networks. The company has a presence in Bengaluru, Delhi-NCR region, & Hyderabad,  with over 100 thousands active subscribers & 75 Cult & Mind centers and envisions to expand its footprint to over 500 centers in next three years.

Subrata Mitra, a partner at Accel and a board member says “ 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 to be a pioneering global product company."

Curefit's success credit goes to its investors who have supported it in each round since inception. It's the unique, highly profitable & scalable model of Curefit which thrusts investors to back Curefit. Curefit product timing also aligns with major tech-driven disruption in healthcare globally as Health is all set to be a massive consumer mega-trend in the next decade.  "With the rapid increase in lifestyle diseases and health awareness in India, Cure.fitoffering is timed to perfection. This is going to be among the largest consumer category and has already established a significant lead in this space" asserts SudhirSethi, Founder & Chairman, IDG ventures &Chiratae Ventures.

"Customers love 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,” says AnkitNagori, founder, Curefit.

"The level of quality obsession and drive to deliver outstanding customer experience every day is what makes Curefit a truly customer-centric company which is what makes Customers love Curefit offerings" adds Vani Kola, Managing Director, Kalaari Capital.

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