Health and fitness startup Cure Fit Healthcare Pvt. Ltd, founded by Myntra co-founder Mukesh Bansal and former Flipkart executive Ankit Nagori, has raised $75 million (Rs 520 crore) in its Series D round of funding from from Piramal Group’s Anand Piramal, Accel Growth, Kalaari Capital, IDG Ventures India.
Accel Growth has led the funding round with an investment of around INR 200 Cr. Followed by INR 120 Cr investment of IDG Ventures India and INR 75 Lakh investment by Anand Piramal Family Trust. Other investors such as Epiq Capital, Makan Family Trust, and Hadley Family Trust also participated in the round.
CureFit will use the fresh capital to expand the operations of the company, its subsidiaries and joint ventures. Cure.fit uses an online-offline model to offer physical fitness (Cult.fit), mental fitness (Mind.fit), nutrition (Eat.fit), with a primary care vertical (Care.fit) coming soon.
The fundraising comes within a year of CureFit having raised $120 million as part of its Series C funding round from existing investors Chiratae Ventures (formerly IDG Ventures), Accel and Kalaari Capital in July last year.
CureFit has also been actively making acquisitions in the past months. Their acquistions includes – cold-pressed juice brand Rejoov, Bengaluru-based a1000yoga, online food delivery firm Kristys Kitchen, integrated mental wellness platform Seraniti etc.
The global wellness market is estimated to be at $4.2 Tn. According to a FICCI and EY report, the Indian wellness market is predicted to reach about INR 1.5 Tn by FY20. Other major players in the health, fitness and wellness space are Stratfit, Growfitter, Fitnapp, and HealthifyMe.