This startup founded by ex-Flipkart employees is soaring high; Ratan Tata, Hrithik Roshan to fund it
The year-old startup has raised about $20 million so far and counts venture capital firms Kalaari Capital, Accel Partners and IDG Ventures as investors.
Roshan wants to take an equity stake in the company. “This partnership will mostly be a cash-plus-equity deal,” Roshan, who worked with Bansal in Myntra for his lifestyle brand HRX, told ET. The deal is expected to be finalised in the next few months.
According to two officials, Tata’s new venture fund with University of California Investments is also in talks to invest in CureFit. Tata is already an angel investor in CureFit and the fresh investment could be a part of the new round of $15-20 million, which the startup plans to raise this year, they said.
“He (Tata) came as an angel investor right at the time when we were incorporating the company,” said Ankit Nagori- founder of CureFit, without commenting on a possible follow-on investment by Tata through the fund.
Roshan, along with his fitness instructor, has designed a signature workout style under HRX brand, Xfit, which will be launched officially next month in the startup’s gym centre, Cult.
However, both the deals aren’t finalized yet.
While online fashion firm Myntra is tying up with celebrities to help consumers wear their style, CureFit is using a similar technique in the fitness world, experts said.
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