CureFit operates well-liked gymnasium chain CultFit.
Tata Digital, the wholly owned subsidiary of Tata Sons Ltd, will make investments as much as $75 million in health and well being startup CureFit Healthcare Private Limited which operates well-liked gymnasium chain CultFit. “Tata Digital Limited, a 100 per cent subsidiary of Tata Sons Private Ltd. has entered into a Memorandum of Understanding for an investment of up to US$75 million in CureFit Healthcare Private Limited (“CureFit”), subject to completion of diligence process and other approvals,” Tata Digital stated in a press launch.
CureFit is the nation’s India’s main health participant that has developed a robust ecosystem round health and wellness.
Tata Digital expects Indian health and wellness market to develop at 20 per cent every year and is anticipated to achieve $12 billion by 2025.
Curefit, with its vary of health & wellness choices, will assist Tata Digital develop into pro-active well being administration house, Tata Digital stated.
CureFit’s co-founder and CEO Mukesh Bansal will be part of Tata Digital as president, Tata Digital Limited. In addition, Mr Bansal will proceed in his management function at CureFit, Tata Digital stated.
“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. We are delighted to have Mukesh Bansal as a part of the key leadership team of Tata Digital. With his deep consumer experience and an entrepreneurial mindset of having incubated and grown two very successful businesses, his expertise will bring immense value to us,” N Chandrasekaran, Chairman Tata Sons stated in a press release.
“Joining Tata Digital marks an exciting new step for me and my team and is a recognition of the value we have created with CureFit for fitness enthusiasts in India. 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 next-generation consumer platform and I am very excited to be part of the Tata Digital team that is shaping this vision,” Mukesh Bansal, Co-founder & CEO of CureFit, stated in a press release.
