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Cure.fit raises $120 mn in Series C funding

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Cure.fitIn the biggest ever fund raised by an Indian healthcare start-up, Cure.fit has received 120 million in a Series C round of funding.

Founded in 2016, Cure.fit, the Bengaluru based healthcare and fitness start-up, is being run by Myntra’s founder Mukesh Bansal and ex-Flipster Ankit Nagori.

In a statement, the company, which has four flagship products — Cult.Fit, Eat.Fit, Mind.Fit and Care.fit, said that existing investors IDG Ventures, Accel Partners and Kalaari Capital had led the investment.

The Start-up would primarily use the fresh capital for ramping up its technology platform, brand building and for geographical expansion of its products, the Cure.fit said.

“Health is over $100 billion category in India and is ready for new tech-driven approach for much better consumer experience. With very high health awareness and rapid technology adoption among consumers, Cure.fit has a unique opportunity to become the go-to destination for all health needs for India,” Mukesh Bansal, Co-founder, Cure.fit, said in a statement.

The latest funding is second largest C round of any Indian company till date, only behind 2011 deal by ad-tech unicorn InMobi which had raised $200 from SoftBank. Since 2016, CureFit has raised total $175 million in equity and debt.

In May this year, the healthcare start-up had raised about Rs 4.18 crore  from Flipkart co-founder Binny Bansal and Myntra-Jabong chief executive Ananth Narayanan.

The firm has presence in Bengaluru, Delhi-NCR region and recently it forayed in Hyderabad as well. The start-up has over 75 “CULT and Mind centres” and aims to grow to over 500 centres in the next three years.

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