Which company will invest $75 million in fitness startup CureFit and has roped in its CEO as president?

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Which company will invest $75 million in fitness startup CureFit and has roped in its CEO as president?

Tata Digital Ltd
BENGALURU : Tata Digital Ltd, a subsidiary of Tata Sons Ltd, on Monday said it has agreed to invest up to $75 million in fitness startup CureFit. Mukesh Bansal, co-founder and chief executive officer (CEO) of CureFit Healthcare Pvt.

Who is the founder of CureFit?

founder Mukesh Bansal
From growing up in Haridwar to studying at IIT Kanpur, building a decade-long career in Silicon Valley, coming back to India to take the fashion and fitness industry by storm, to now joining the Tatas, it has been quite an exciting journey for CureFit founder Mukesh Bansal.

Is CureFit a unicorn?

Health and wellness startup Curefit is the 36th startup to enter the unicorn club, after raising $50 million in cash from food delivery app Zomato. The total deal size is $100 million. A unicorn, in startup parlance, is a company valued at or over a billion dollars.

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Is cure fit profitable?

And regulatory filings now show that its operating revenue shot up 174\% to Rs 496 crore during FY20 from Rs 181 crore earned in FY19. fit grew by 214\% to Rs 102 crore in FY20 from Rs 32.5 crore in FY19 while Curefit purchased finished goods worth Rs 15 crore for sale on its platform during FY20.

Who is parent company of Tata digital?

Tata Sons
Tata Digital Limited/Parent organizations
Tata Digital has raised the funds from its parent Tata Sons. Tata UniStore is raising capital from its two joint venture promoters — Tata Industries & Trent Ltd.

What does Tata digital do?

Driven by this pioneering spirit, the Tata group has set up Tata Digital to build digital businesses that will address the needs of Indian consumers as well as businesses. India has seen rapid growth in smartphone penetration, leading to accelerated adoption of digital services by consumers and small businesses alike.

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Is CureFit owned by Flipkart?

Bansal was the co-founder of online fashion startup Myntra, which was acquired by Flipkart in 2014. He started Curefit with another former Flipkart executive Ankit Nagori.

How do you make money from CureFit?

fit points help you keep track of the number of healthy activities you do! For each activity including sleep, walked steps, cult/mind. fit classes, eat. fit meals & DIY sessions you will earn one or more points.

When was cure fit founded?

2016
CureFit is a health and fitness company offering digital and offline experiences across fitness, nutrition, and mental well-being. yoga and meditation, and medical and lifestyle care hassle-free. Co-founded by Mukesh Bansal and Ankit in Nagori 2016, the company is headquartered in Bangalore, Karnataka.

Is Tata Digital good company?

The overall rating of Tata Digital is 2.7, with Job Security being rated at the top and given a rating of 3.9. However, Work Satisfaction is rated the lowest at 2.3.

Who is the CEO of Tata Digital?

Pratik Pal, CEO, Tata Digital, said: “We are glad to have Modan join our core leadership team and his strong expertise in Financial Services will add tremendous value to our Tata Consumer Platform ecosystem.”

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What is CureFit owned by Tata digital?

Curefit, with its range of fitness & wellness offerings, will help Tata Digital expand into pro-active health management space, Tata Digital said. CureFit’s co-founder and CEO Mukesh Bansal will join Tata Digital as president, Tata Digital Limited. In addition, Mr Bansal will continue in his leadership role at CureFit, Tata Digital said.

How Tata Sons is taking on Reliance Digital?

Tata Sons is aiming to take on Reliance with its digital expansion and create a one stop shop for the 500 million internet users of the country ranging from fashion, grocery, pharma to food delivery.

Will CureFit be India’s first super-app?

BENGALURU: Tata Group’s ambition of developing India’s first super-app got one step closer with its subsidiary firm Tata Digital signing a deal for investing of up to $75 million in fitness start-up Curefit.

What is the future of fitness and wellness market in India?

Tata Digital expects Indian fitness and wellness market to grow at 20 per cent per annum and is expected to reach $12 billion by 2025. CureFit operates popular gym chain CultFit.