Health and fitness startup Cure.fit today said it has raised USD 120 million funding (Rs 824 crore) in new round of funding led by IDG Ventures, Accel Partners and Kalaari Capital.
The series C round funding also saw participation from Chiratae Ventures and Oaktree Capital, Cure.fit said in a statement.
“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,” it added.
Founded in 2016 by Myntra co-founder Mukesh Bansal and former Flipkart executive Ankit Nagori, CureFit operates a chain of fitness centres under Cult.Fit. It also focusses on mental fitness (through Mind.fit), healthy food (Eat.fit) and primary care (Care.fit).
“Health is over USD 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,” Bansal said.
He added that leveraging deep tech and strong on-ground network, the company aspires to service over 100 million consumers over next 10 years.
Cure.fit has over 75 CULT and Mind centres and aims to grow this to over 500 centres in next three years, the statement said adding that Eat.fit is servicing over 10,000 meals a day now with a target of doubling the number every three months.
The Bengaluru based company has raised about USD 170 million till date.