Temasek Holdings leads $109 mn funding round in Cure.fit: Report

Temasek Holdings leads $109 mn funding round in Cure.fit: Report
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23 Mar, 2020

Bengaluru-based healthtech startup Cure.fit Healthcare, which owns an eponymous fitness platform, has raised $109 million in a growth round led by the investment entity of the Singapore government, Temasek Holdings, according to a media report.   

The round also saw participation from two new investors, GableHorn Investments and Ascent Capital, along with returning investors venture capital firms Accel and Chiratae Ventures, according to an Entrackr report.

Tokyo headquartered SoftBank was reportedly in talks to invest in the company, which would have made Cure.fit a unicorn. The term ‘unicorn’ refers to a startup with a valuation of $1 billion or more. 

In June, Cure.fit raised $120 million (around Rs 832 crore then) led by Chiratae Ventures, along with Accel, Kalaari Capital and Oaktree Capital. So far, the company has raised around $310 million, as per VCCEdge data.

Founded in 2016, the startup operates four verticals — its chain of fitness centres Cult.fit, subscription-based food delivery vertical Eat.fit, psychological wellness platform Mind.fit and primary healthcare vertical Care.fit. 

The multi-platform fitness startup runs 180 Cult.fit fitness centres and 35 Mind.fit centres in the country. It looks to expand its wellness base to over 800 centres by next year.