Three-year old Curefit clocks in $100 mn in revenue and over $245 mn in total funding

• Curefit has raised $75 million in the first tranche of series D round of funding.
• Its range of investors now include Anand Piramal Trust, Accel Partners, Kalaari Capital, IDG Ventures among others.
• This takes the startup’s reported valuation to $500 million.

Health and fitness startup Curefit has raised $75 million in a series D round. According to the filing sourced by Paper.vc, the investment was raised from Accel Partners, Anand Piramal, Kalaari Capital, IDG Ventures India and Pratithi Investment Trust.

While the investment is a first tranche of a series D round, Curefit’s reported valuation with the recent fundraise goes up to $500 million. Curefit has not released an official statement regarding the fundraise.

Curefit, founded in 2016 by Myntra co-founder Mukesh Bansal and former Flipkart Chief Business Officer Ankit Nagori, has gained popularity in India through its fitness centres - Cultfit, health app - Curefit, diagnostic centres - Carefit and yoga and meditation centres - mindfit.

The duo’s success with their previous businesses seems to have rubbed off on their current venture too. In just three years, the startup has registered 4 lakh users for curefit, with 160 centres across Bengaluru, Delhi NCR, Mumbai and Hyderabad – all adding up to an annual revenue of $100 million.

Curefit had last raised funding of $120 million in July 2018. Earlier, it had also raised funding from Bollywood actor Hrithik Roshan, who had been signed as the brand ambassador for the fitness startup in 2017. Roshan had reportedly invested $14.63 million in the startup.

Since its inception, Curefit has acquired 5 startups in the health and wellness space, and has been fast growing its business. The Bengaluru-based startup has also been looking at opportunities to go global with Dubai and Southeast Asian countries.

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