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

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Cure.fit raises $120 million in a series D round of funding
  • Indian health startup cure.fit has raised $120 million in a series D round.
  • In May, Business Insider reported that cure.fit had raised $75 million in the first tranche of the round.
  • Cure.fit now plans to take up its centres from 180 to 800 in India and Dubai.
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Indian health and fitness startup cure.fit has raised $120 million in a Series D round of funding. In May 2019, a paper.vc report said that the startup raised $75 million in the first tranche of the series D round.

Curefit was founded in 2016 by Myntra co-founder Mukesh Bansal 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.

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This recent round was led by Chiratae Ventures, Accel Partners, Kalaari Capital & Oaktree Capital, while new investors like Epiq Capital, Unilever Ventures, Innoven Capital and Kotak Mahindra Bank too chipped in.

Curefit’s reported 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 reportedly invested $14.63 million into the startup.

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