Full stack health and fitness company CureFit has raised $75 million in the series D funding, taking the company's valuation over $500 million. The latest round of funding was led by existing investors Accel Growth and also witnessed participation from other existing investors like Kalaari Capital, Pratithi Investments, Chiratae Ventures, Castle Investments, Satyadharma Investments, The McGovern Family, Makan Family Trust, and Bruno E. Raschel have also participated in the round. Accel growth pumped around $30 million dollars while Kalahari adding $10 million and Chiratae investing $8.38 million.
Notably, the valuation of the company has seen significant jump after securing $120 million from Chiratae Ventures, Accel Partners and Kalaari Capital along with participation from Accel Partners US and Oaktree Capital in August 2018. Founded by Mukesh Bansal, who was also the co-founder of fashion retailer Myntra, and Ankit Nagori, the ex-chief business officer at Flipkart, the company attracted the investors in no time. At this pace of investment, CureFit is expected to join the Unicorn club by mid-2020. Both Bansal and Nagori worked at Flipkart when Myntra was bought by the Bengaluru headquartered company in 2014. It operates gym under the brand name under Cult.Fit, healthy food offerings under Eat.Fit, mental wellness through Mind.Fit and diagnostic centers through Care.fit.
Ever since its launch in 2016 the company has acquired several smaller firms as per its expansion plan. Apparently, CureFit has launched an incubator programme for startups, which are creating healthy snacks and beverages. The company plans to invest $5 million across 10-12 startups in coming next two years as it is looking for creating co-products as well. It recently launched an incubator programme for startups, which are in the business of creating healthy snacks and beverages. The idea is to invest $5 million across 10-12 startups in the next two years as it looks to co-create products as well.
