In April 2019, CureFit had secured the first tranche of its latest Series D round. Accel Partners had led a $75 million tranche with $29.6 million of its own. Turns out, another $45 million is on its way as a part of this round, which will take the total upto $120 million.
The first tranche was acquired by distributing about 2.3 crore Series D1 CCPS worth Rs 219.96 and 4 lakh equity shares priced at Rs 168.67 among investors. Apart from Accel, Kalaari Capital, Chiratae Ventures, Epiq Capital, Hadley Family Trust, Pratithi Investments, Makan Family Trust, Anand Piramal Trust, and several others had contributed to the round.
According to the latest reports, the next $45 million will also see new investors such as Unilever Ventures, Innoven Capital, and Kotak Mahindra Bank coming on board. Earlier ET reports had specified how the healthcare and fitness brand was looking to take the latest funding up to $120-150 million.
With this, the total funding raised by CureFit till date, will be $290 million.
The post-money valuation of the company after the last tranche had gone to $520-557 million. However, with the next $45 million, this valuation is slated to increase to $575 million.
Other sets of reports that have come around recently claim that the company is also in talks with SoftBank Vision Fund to take up another $200 million funding round, and take the valuation above $1 billion, hence making it a unicorn.
However, talks on this front haven’t reached any conclusion yet. If this deal goes through, CureFit a market leader in its segment will achieve the unicorn tag. In case, the talks fall through, this will become a case similar to CureFit’s recent funding conversation with Goldman Sachs.