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<ul><li>Indian health startup cure.fit has raised $120 million in a series D round. </li><li>In May, Business Insider reported that cure.fit had raised $75 million in the first tranche of the round. </li><li>Cure.fit now plans to take up its centres from 180 to 800 in India and Dubai.</li></ul>Indian health and fitness startup cure.fit has raised $120 million in a Series D round of funding. In May 2019, a paper.vc <a href="https://www.businessinsider.in/curefit-raises-75-million-from-anand-piramal-accel-partners-and-others/articleshow/69215063.cms">report </a>said that the startup raised $75 million in the first tranche of the series D round. <keyword id="3465872" type="PERSON" weightage="20" keywordseo="curefit">Curefit</keyword> was founded in 2016 by Myntra co-founder <keyword id="705865" type="PERSON" weightage="20" keywordseo="Mukesh-Bansal">Mukesh Bansal</keyword> and former Flipkart Chief Business Officer Ankit Nagori. It has fitness centres under the Cultfit brand and a health app called Curefit. It also has diagnostic centres called Carefit and yoga and meditation centres called mindfit. "Leveraging deep tech and strong on-ground network, we aspire to service over 100 million consumers over the next 10 years," said Bansal. In three years, the startup registered 4 lakh users for curefit, with 180 centres across Bengaluru, Delhi NCR, Mumbai and Hyderabad. All these provide an annual revenue of $100 million. The company now plans to grow to 800 centres by 2020. The startup has also expanded its operations to Dubai. This recent round was led by Chiratae Ventures, Accel Partners, Kalaari Capital &amp; Oaktree Capital, while new investors like Epiq Capital, Unilever Ventures, Innoven Capital and Kotak Mahindra Bank too chipped in. Curefit’s <a href="https://www.livemint.com/companies/start-ups/curefit-raises-75-million-valuation-crosses-500-million-1557206291458.html">reported</a> valuation is pegged at $500 million, after the latest fundraising. Earlier, the startup also raised funding from Bollywood actor Hrithik Roshan, who is also the brand ambassador since 2017. Roshan had <a href="https://inc42.com/buzz/hrithik-roshan-pours-in-878-2k-in-fitness-startup-cure-fit/">reportedly </a>invested $14.63 million into the startup. See Also: <a href="https://www.businessinsider.in/curefit-raises-75-million-from-anand-piramal-accel-partners-and-others/articleshow/69215063.cms">Three-year old Curefit clocks in $100 mn in revenue and over $245 mn in total funding</a>

Cure.fit raises $120 million in a series D round of funding

<ul><li>Some of these companies include Hippo Video founded by ex <keyword id="265415" type="General" weightage="20" keywordseo="zoho" source="Orion">Zoho</keyword> employees and Niki founded by former Innovaccer employees.</li><li><keyword id="4621694" type="General" weightage="20" keywordseo="freshworks" source="Orion">Freshworks</keyword> and <keyword id="2760306" type="General" weightage="20" keywordseo="chargebee" source="Orion">Chargebee</keyword> are also founded by former employees of Sridhar Vembu-led Zoho Corporation.</li><li><keyword id="4360787" type="General" weightage="20" keywordseo="indian-saas-companies" source="Orion">Indian SaaS companies</keyword> — both old and new — have created over 62,000 jobs in India in 2021 so far.</li></ul>Over 500 former employees of India’s top fifteen software-as-service (SaaS) companies — like Zoho, Freshworks and others — have founded their own companies, a recent report by Bain &amp; Company revealed. The report noted that these 500 employees have created more than 5,000 employment opportunities. Some of these companies include Hippo Video, SurveySparrow, Facilio founded by ex Zoho employees, Slintel founded by former Eightfold employees and Niki founded by former Innovaccer employees. Freshworks and Chargebee are also founded by former employees of Sridhar Vembu-led Zoho Corporation. Collectively, Zoho has contributed nearly 133 entrepreneurs to the Indian startup ecosystem. <div type="image" title="Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian Startup ecosystem" msid="88145268" hostid="261"></div> The report further suggests, “50% of founders, new companies, and resulting job opportunities are coming from emerging <keyword id="9700532" type="General" weightage="20" keywordseo="indian-saas" source="Orion">Indian SaaS</keyword> companies.” The Indian SaaS report of 2021 further highlighted that the Indian SaaS companies — both old and new — have so far created over 62,000 jobs in India this year alone. These job opportunities are spread across professionals skilled in cloud, artificial intelligence and machine learning, product management and advanced analytics like data engineers, data scientists and more. <div type="image" title="Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian Startup ecosystem" msid="88145301" hostid="261"></div> Indian SaaS companies are poised to reach $30 billion in revenue, capturing 8% to 9% share of the global SaaS market by 2025, the report by Bain &amp; Company added. Meanwhile, a report by investment firm Chiratae Ventures and consulting firm Zinnov released in June noted that the Indian SaaS segment has the potential to clock a <a href="https://www.businessinsider.in/tech/enterprise/news/amazon-twitter-hyundai-and-dominos-are-buying-indian-software-fuelling-a-75-billion-dream-chased-by-top-vcs-like-sequoia-and-tiger-global/articleshow/85646116.cms">total turnover of $75 billion by 2025</a>. The Bain &amp; Company report also noted that the investment in this space is expected to reach $4.5 billion in 2021. “While the overall growth in funding has been driven by an increase in deal volume across stages, there has been notable growth in the volume of deals larger than $50 million, as investors give a clear vote of confidence in the potential of Indian SaaS companies to achieve substantial future growth,” Arpan Sheth, who is a partner and leader at Bain &amp; Company’s Global Vector Solution Group, said. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/indigo-stock-gains-as-a-plea-to-shut-down-spicejet-has-been-admitted/articleshow/88138734.cms" style="">Indigo stock gains as a plea to shut down SpiceJet has been admitted</a> <a href="https://www.businessinsider.in/business/news/zoho-is-selling-its-video-calling-app-in-as-many-ways-as-possible/articleshow/88137006.cms" style="">Zoho is selling its video calling app in as many ways as possible</a> <a href="https://www.businessinsider.in/india/news/these-are-the-states-with-confirmed-cases-of-omicron-covid-19-strain-in-india/slidelist/88138240.cms" style="">Omicron in India — Maharashtra and Rajasthan have recorded 19 positive cases so far</a>

Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian startup ecosystem

<ul><li>According to StartupBlink, India ranks 19th in the world <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> innovation map. </li><li>On the innovation map, India has 0.16 score while the USA has 4.28. </li><li>The United States of America tops the list followed by Canada and Estonia. The US has a score of 4.28. </li></ul>As the coronavirus pandemic spreads, startups and organizations have been working day and night on innovations that will help people across the world. According to StartupBlink, which has a global comprehensive startup ecosystem map and research centre, India ranks 19th in the world coronavirus innovation map. On the innovation map, India has 0.16 score. Meanwhile, the United States of America tops the list followed by Canada and Estonia. The US has a score of 4.28. “The first run of the rankings reveals an interesting insight that some of the cities that have been badly hit by the crisis such as New York, Milan, Paris, London, Beijing, and Barcelona, are the ones that have been mostly over-performing in the charts. This is counterintuitive since those cities are in a major crisis, but still, manage to excel and innovate due to the needs they are facing,” said the report by <a href="https://www.startupblink.com/blog/introducing-coronavirus-innovation-rankings/">StartupBlink.</a> India currently has over 17,200 positive coronavirus cases. Since late March, more and more organizations have been turning their businesses around to support the government during the coronavirus pandemic. In his most recent speech, Indian Prime Minister Narendra Modi also urged scientists and researchers to come forward with innovative solutions to deal with the coronavirus. While factories have started producing masks, testing kits and PPE kits, startups have pivoted to build a use case during the coronavirus pandemic. The first Made in India testing kit from Pune based startup MyLabs also recently received commercial approval. India’s top VCs – Sequoia India, Matrix Partners, SAIF Partners, Lightspeed Ventures, Kalaari Capital, Accel, Chiratae Ventures, Omidyar Network and Nexus Partners along with several startup founders, launched a ₹100 crore grant to fund ideas that will lead the fight against the coronavirus pandemic. The grant is purely charitable with no financial interest. The initial grants will be for ₹10 lakh but once the startup can prove a product-market fit, the investment can go as high as ₹10 crore per idea. So far, the VCs committed ₹2.5 crore to startups like IVR project, MyLab and Ventilator Splitter. See Also: <a href="https://www.businessinsider.in/business/startups/news/india-top-venture-capitalists-sequoia-matrix-accel-and-others-set-up-100-crore-grant-to-fund-startups-with-ideas-to-fight-covid-19/articleshow/74929460.cms">India’s top VCs set-up ₹100 crore grant to fund ideas to fight Covid-19</a>

India ranks 19th in Covid-19 global innovation map

(Eds: Adding details) New Delhi, Apr 1 () Founders of Indian start-ups, venture capital firms and independent advisors have joined hands to offer a Rs 100-crore ACT Grant for supporting innovators working on solutions for the deadly COVID-19, that has claimed thousands of lives globally. The ACT (Action COVID -19 Team) initiative has seen participation from venture capital firms like Sequoia Capital India, Accel, Lightspeed, Chiratae Ventures and SAIF Partners as well as individuals like Nandan Nilekani, Vijay Shekhar Sharma (Paytm), Kiran Mazumdar Shaw, Mukesh Bansal (cure.fit), and Abhiraj Bhal (Urban Company). SoftBank and Bnext have also contributed to the grant that is being managed by United Way Worldwide. The group will be supported by partner NGOs and industry veterans, and will collaborate with government agencies to scale up solutions that show promising results. "Investors, industry veterans and founders will collaborate and support start-up founders in their preparation and planning as they face significant economic impact caused by COVID-19. It will be a dynamic resource to share best practices with them and enable them to collaborate and co-operate efficiently with business partners and various other external and internal stakeholders," a statement said. A Rs 100-crore ACT Grant will springboard innovators who are working on solutions to overcome COVID-19, it added. The grant is seeking applications from NGOs, SMEs and start-ups that are working on innovative solutions to combat the effect of COVID-19 in areas like prevention of its spread, scaling testing, disease management at home, enhanced support for healthcare workers and hospitals, management of critically-ill patients, and support for mental health. So far, Rs 2.5 crore worth of grants have been committed, and 40 proposals have been received. "A 25-member team combining the resources of the start-up community has been formed to enable rapid evaluation and recommendations on potential projects. A leadership team comprising members of the investment advisory community, founders and independent advisors has been formed to make grant decisions," the statement said. Further, a mentoring team has been constituted who can monitor and support post-investment for the projects, it added. Appreciating the efforts, Union Minister for Electronics and IT Ravi Shankar Prasad tweeted, "Good to see well known technology leaders of India coming together in the fight against #COVID19 by encouraging innovations. Launch of Action COVID-19 Team(ACT) by them with a corpus of Rs 100 crore to accelerate efficient &amp; scalable solutions on COVID-19 is indeed commendable". Corporates have been rushing in to help the government and citizens fight the COVID-19 pandemic in India. IT major Cognizant has also announced an initial USD 10 million philanthropic commitment to support communities around the world in addressing the immediate and long-term impacts of COVID-19. Cognizant and its US and India-based foundations will provide critical resources to strengthen public health systems, education and workforce institutions, and the economic outlook of communities worldwide, the company said in a statement. As part of the USD 10 million commitment, the Cognizant US Foundation will match all Cognizant associate contributions to GlobalGiving's 'Coronavirus Relief Fund' throughout April. In a separate statement, short-video platform TikTok said it is donating Rs 100 crore worth of medical equipment in India. TikTok is donating 4 lakh hazmat medical protective suits and 2 lakh masks to protect doctors and front line medical staff in India, it said in a statement. SR RVK

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Cure.fit raises $120 million in a series D round of funding

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Zoho, Freshworks and top Indian SaaS companies have given 500 entrepreneurs to the Indian startup ecosystem

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India ranks 19th in Covid-19 global innovation map

Sanchita Dash

Start-ups, VCs launch Rs 100-cr grant for innovators working on COVID-19 solutions

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