CureFit Healthcare Raised Rs 19.2 Cr from Ratan Tata, University of California
CureFit Healthcare Pvt Ltd has raised 3 million dollars (Rs 19.2 crore) in a fresh round of funding from UC-RNT Fund, a joint venture between Ratan Tata’s RNT Associates and the University of California.
CureFit is a Bengaluru based company, the company operates a platform which enables users to manage their health proactively through a range of service offerings.
Along with the RNT Associates and the University of California other investors include Gokul Rajaram, product engineering lead at US-based mobile point of sale provider Square; Aditya Agarwal and Ruchi Sanghvi, vice presidents of engineering and operations, respectively, at file sharing application firm Dropbox; and Shishir Mehrotra, former vice president of product, engineering and UX at YouTube also invested in the CureFit.
With this round of funding, the company will take its total capital raised to $18 million.
Speaking about the funding, Mukesh Bansal co-founder of CureFit explained, “The funding happened a while back and it is not only about UC-RNT as Tata has also invested in his personal capacity. Besides, prominent Silicon Valley tech leaders have also invested in CureFit. This is more about the caliber of people that the company can get associated with."
"We are offering an integrated solution to users in three areas -fitness, food and mental health. We started off with our fitness offering of Cult, which now has 5,000 paid subscribers," Bansal said.
Meanwhile talking about the mobile app Cult.fit Bansal explained, “While some of the DIY (do it yourself) videos on working out from home in cult.fit will be free of cost, users will have to subscribe and pay offline for the 10 Cult fitness centres in Bangalore. Likewise, the health recipes on eat.fit are free, while users will have to pay for health foods available on its platform. The entire section of the mental health platform, which is mostly DIY videos on meditation, is also available free of coast to users,"
"The users can also book workout classes at Cult centres and order healthy Indian and fusion food in Bengaluru," cure.fit said.
"Health is going to be $500 billion industry in India by 2025. There is an opportunity to build next generation health platform to service hundreds of millions of Indians who cannot be serviced through traditional channels," said Mukesh Bansal, Co-founder, cure.fit.
"We are pioneering a novel approach to build one stop shop for all health needs and enable long term good health."