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Tata Digital, a wholly-owned subsidiary of Tata Sons, has decided to invest $75 million in CureFit Healthcare.
CureFit Founder and CEO Mukesh Bansal will join Tata Digital in an executive role as President, Tata Digital. The acquisition is part of Tata Sons’ big push into the digital space. Recently, it had acquired a majority stake in online grocery player bigbasket.
CureFit is a fitness player that has developed an ecosystem around fitness and wellness.
Indian fitness and wellness market is growing at 20 per cent per year and is expected to reach $12 billion by 2025. N Chandrasekaran, Chairman- Tata Sons, said: “The CureFit partnership with its industry leading platform in fitness and wellness aligns very well with our overall healthcare proposition where fitness is increasingly becoming an integral part of a consumers’ life.”
Mukesh Bansal, Co-founder and CEO of CureFit, said: “Joining Tata Digital marks an exciting new step for me and my team and is a recognition of the value we have created with CureFit for fitness enthusiasts in India.
“Being part of Tata Digital will enable us to nationally scale up our offerings for our customers. Tata Digital has highly inspiring vision to create next generation consumer platform and I am very excited to be part of Tata Digital team that is shaping this vision.”
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