FPGA Family Foundation backs health and fitness startup Curefit

FPGA Family Foundation backs health and fitness startup Curefit
Photo Credit: Pixabay
19 Nov, 2019

Health and fitness startup Curefit has added Rs 3.4 crore (around $473,000) of funding commitment from Bengaluru based FPGA Family Foundation as part of its Series D round. 

The company had issued Series D1-A shares at a premium of Rs 218.86 to the family office, according to filings dated October 29.

The Bengaluru headquartered company had raised $120 million as part of its Series D round, which closed in June from new and existing investors like Epiq Capital, Unilever Ventures, Innoven Capital, Kotak Mahindra Bank and Kris Gopalakrishnan’s family office joined the round as new investors.

The company, launched by former Myntra CEO Mukesh Bansal and Flipkart executive Ankit Nagori in 2017, runs multiple business verticals. The company operates gyms under the brand name Cultfit, health food delivery service through Eatfit and yoga and meditation centres under the Mindfit brand. 

Curefit also forayed into diagnostics and doctor consultation services through its Carefit brand of clinics in 2018.

The company has so far managed to raise over $324 million, according to data sourced from VCCEdge. It has also made multiple acquisitions to grow its business such as the juice brand Rejoov that it bought in April 2019.  

In 2018 it acquired mental wellness platform Seraniti and Fitness First chain of gyms.  

In 2017 the company had acquired Bengaluru based companies, 1000 Yoga Academy and health food delivery platform, Kristy’s Kitchen. 

Curefit runs 180 Cult.fit fitness centres, 35 Mind.fit centres and plan to expand to 800 centres by 2020, according to a statement by the company in August.