Tata Digital, a subsidiary of Tata Sons, on Monday announced to invest up to $75 million in fitness startup CureFit.
Mukesh Bansal, CureFit Founder, and CEO will join Tata Digital as President, Tata Digital. In addition, he will continue in his leadership role at CureFit, the company said in a statement.
“The CureFit partnership with its industry-leading platform in fitness and wellness aligns very well with our overall healthcare proposition where fitness is increasingly becoming an integral part of a consumers’ life,” said N. Chandrasekaran, Chairman Tata Sons.
Tata Digital set up its operations in August 2019, to build consumer-centric digital businesses for deep consumer engagement and their needs across multiple verticals.
On the other hand, CureFit is a leading player in the fitness and wellness market that is growing at 20 percent per annum and is expected to reach $12 billion by 2025.
Before today’s announcement, CureFit had raised nearly $418 million.
“Being part of Tata Digital will enable us to nationally scale up our offerings for our customers. Tata Digital has a highly inspiring vision to create a next-generation consumer platform and I am very excited to be part of the Tata Digital team that is shaping this vision,” said Bansal.
Credit offers a holistic range across fitness and yoga, mental wellbeing, healthy meals, and consultations, diagnostics as well as personal training.
“Tata digital partnership will significantly accelerate Cure. fit’s growth as a fitness and wellness leader and it will open up access to a large set of the new consumer base,” said Sudhir Sethi, Chairman Chirate Ventures from CureFit board.
