Comments
Tata Digital Limited, a wholly-owned subsidiary of Tata Sons Private Ltd. has decided to invest $75 million in CureFit Healthcare Private Limited.
CureFit Founder & CEO Mukesh Bansal will join Tata Digital in an executive role as President, Tata Digital Limited. The acquisition is part of Tata Sons' big push into the digital space. Recently it had acquired a majority stake in online grocery player BigBasked.
CureFit is a fitness player that has developed an ecosystem around fitness and wellness. As a result, the Indian fitness and wellness market is growing at 20 per cent per annum 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 & 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.”
The Indian fitness and wellness market is growing at about 20 per cent per annum and is expected to reach about $12 billion by 2025.
Sudhir Sethi, Chairman Chirate Ventures from CureFit board said: “Tata digital partnership will significantly accelerate cure.fit’s growth as a fitness & wellness leader and it will open up access to large set of new consumer base. It is a strong validation of the category leadership that cure.fit has and help cure.fit grow rapidly as digital health takes off in a big way in next decade.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.