Myntra co-founder Mukesh Bansal and former Flipkart executive Ankit Nagori’s health and fitness platform CureFit, has raised a fresh round of funding of $25 million from existing investors Accel Partners, Kalaari Capital, IDG Ventures and UC-RNT fund, a joint investment vehicle of the University of California and Ratan Tata’s RNT Associates.
The new round expects to go up to $35-40 million in the next 6 months, according to a source familiar with the matter.
CureFit will use the fresh funding to expand the Cult centers into other cities, starting with Gurgaon in October and will also try to add a new product to medical examinations and primary health care under the Care.fit brand by the beginning of 2018,both the cofounders said.
It operates an online-offline model of fitness centers in Bengaluru called Cult as well as mental wellness and yoga, also recently began health food services.
The company had also raised a $15 million funding last year in one of the largest early-stage rounds in the Indian startup ecosystem.
Apart from the four venture capital funds, the company had previously raised money from Gokul Rajaram of US payment company Square, Aditya Agarwal from Dropbox and former YouTube CEO Shishir Mehrotra.
The two CureFit founders, who had previously pooled in $5 million into the company, have also pumped more money in this round.
Like this press release? Submit yours here.