Companies

Curefit raises $145 million from Zomato, Temasek, Accel and others

Our Bureau | | Updated on: Dec 03, 2021
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The company has allotted 1 equity share and 2,25,07,343 Series F shares at the issue price of ₹483.62 each

Health and fitness start-up Curefit has raised $145 million in Series F round from foodtech unicorn Zomato, South Park Commons, Accel, Temasek, co-founder Mukesh Bansal, and IIFL Wealth’s senior partners Apurva Doshi and Paras Sanghvi.

The company has allotted 1 equity share and 2,25,07,343 Series F shares at the issue price of ₹483.62 each, according to Curefit’s recent regulatory filings. Zomato was allotted 1,55,08,043 Series F shares and 1 equity share as part of this transaction, which was the highest share allotment in this round.

Last month, Zomato had announced that it is in the process of selling its fitness service Fitso to Curefit for $50 million along with investing another $50 million cash in the company to acquire a 6.4 percent stake. The recent regulatory filings show that this deal has been completed.

Health, fitness

Bengaluru-based Curefit is a health and fitness company founded by Mukesh Bansal and Ankit Nagori in 2016. Its platform Cultfit, provides fitness-related services through a mix of online and offline channels. These include offline group workouts at Cultfit centres and other gym equipment-based workouts at partner gyms and fitness centres across the country. The platform also offers online personal training, group workouts, and live fitness classes.

Last year, Curefit had spinned off its food business Curefoods which operates Eatfit and Curefit cofounder Nagori increased his stake in the food business following an equity swap.

Prior to the spinoff, EatFit had consolidated its presence across 15 cities to focus on Bengaluru, Hyderabad and Coimbatore. Today, Curefoods claims to have over 25 kitchens across four cities in India including Delhi, Mysore, Hyderabad, and Coimbatore. Later in June, Tata Digital announced plans to invest upto $75 million in Curefit and said Mukesh Bansal will join Tata Digital as the President while continuing to head Curefit.

Published on December 03, 2021

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