Curefit seems to be on way to become a full stack lifestyle cum fitness brand. After launching fitness-centric studios-Cult.fit and healthy food service, the Mukesh Bansal-led company is now foraying into primary healthcare space with Care.fit.
The company will launch first healthcare center in Bengaluru on April 1, followed by a pan-India launch. Care.fit will provide services including fitness advice and medicine deliveries.
Currently, Cure.fit offers three variants of fitness services – Cult.fit, an app for physical fitness; Eat.fit caters to healthy food and snacks while Mind.fit gives mental wellness training.
According to the company, Care.fit will offer preventive healthcare solutions through its in-house physicians and will leverage big data, telemedicine, and analytics. Besides, it will also assign doctors who will prescribe lifestyle measures to keep one healthy in the long run.
The Bengaluru-based company emphasises that it won’t compete with clinics and hospital chains. However, with medicine delivery and expert consultation, Care.fit competes against likes of Practo and 1mg.
The startup aims to launch 50 Care.fit centres, 500 Cult.fit centres, 100 Mind.fit units and over 100 health kitchens in the next five years.
Presently, the firm claims to have 30 Cult units in Bengaluru and six in the National Capital Region (NCR). Additionally, it has five Mind.fit centres and an equal number of Eat.fit kitchens in Bengaluru.
So far, CureFit has raised a total of $53.9 million in risk capital, according to CrunchBase, which include $10 million in debt financing from HDFC Bank and Axis Bank.
The firm counts Accel Partners, IDG Ventures, Kalaari Capital and UC-RNT Fund, a joint venture between Ratan Tata’s RNT Associates and the University of California, Trifecta Capital, Kris Gopalakrishnan’s Prathithi Investment Trust as its investors.
Previously, CureFit acquired fitness centre brand Cult for $3 million and picked up a majority stake in fitness centre chain. Last year, it also signed Rs 100 crore endorsement deal with Bollywood superstar Hrithik Roshan, who is the brand ambassador for the fitness platform, Cult.
Since its inception, the startup had acquired three Bengaluru-based startups, including fitness centre chain ‘The Tribe’ and premium online food delivery startup ‘Kristys Kitchen’, while yoga chain start-up a1000yoga is the latest to be added in CureFit’s acquisition list.
With Cure.fit’s entry into primary healthcare space, it’s clear that the company is eyeing to become full stack fitness and lifestyle plus healthcare destination for millennials and working class in Bengaluru and NCR. It also has gained quick grounds in Bengaluru and NCR. Going forward, it would be interesting to see how Mukesh and his co-founder Ankit Nagori sail through in their latest entrepreneurial journey.
