A leading healthcare company offering services for mental and physical well-being Cure.Fit (CureFit Healthcare Pvt. Ltd) is a preventive and curative healthcare and fitness company. They aim to make fitness fun and easy. Cure.Fit gives workouts a whole new meaning with a range of trainer-led, group workout classes. Cure.Fit delivers physical and mental wellbeing across 4 flagship verticals- Cult.Fit, Eat.Fit, Mind.Fit, and Care.Fit.
Cult.Fit is a chain of group workout fitness centers available in Delhi, Bangalore, Hyderabad, and Gurugram. Various workout formats such as Zumba, Yoga, Boxing, Strength & conditioning, Prowl by Tiger Shroff, HRX by Hrithik Roshan, running, and football. These facilities are also available on the Cure.Fit app.
Eat.Fit is an online food ordering and delivery platform that delivers daily healthy meals. It also offers monthly and weekly subscriptions.
Mind.Fit is a chain of mental fitness centers offering yoga and meditation. Just like Cult.Fit Mind. Fit also offers DIY packs on the app.
Care.Fit provides doctor consultations and full-body check-ups at their health center with Pharmacy and Diagnostics facility. They also offer free follow-ups, 24/7 video consultations, and zero wait time. Apart from core offerings around health and fitness, Curefit had also forayed into grocery with Whole.Fit.
What does CureFit logo depict?
Cure.Fit logo is bright and colorful radiations that originate from the core. It symbolizes boundless and contagious energy, that flows out into the world. That’s why as mentioned in Cure.Fit blogs, it represents their vision of maximizing the human potential of mind and body. There are 5 colors that make up the cure.
Who owns CureFit?
Mukesh Bansal and Ankit Nagori co-founded Cure.Fit in 2016. Mukesh Bansal who also founded Myntra currently serves as the CEO of Cure.Fit. He has been listed in the Best 40 Under 40 Entrepreneurs by Fortune magazine. He is also on the board of Olympics Gold Quest, a non-profit foundation that promotes sports and games. His first firm Myntra was sold to Flipkart and later became a part of Walmart’s retail ecosystem in 2018 when the American retail giant acquired Flipkart.
Ankit Nagori founded a social media start-up named Youthpad after his graduation in 2007 which he ran for 3 years. Later he joined Flipkart as a manager, where he rose quickly across the ranks to spearhead the company’s operations as its Chief Business Officer. In 2016, after a six-year tenure at Flipkart, he left to establish Cure.fit
How much is CureFit Valued?
CureFit claims its annualized revenue stood at $100 million, growing at 200% every year. In fiscal 2018, the company earned revenue of Rs 34.6 crore on a loss of Rs 98.6 crore, regulatory filings show. And their goal is to stay on a track with 120 million dollar track.
Who are the Investors of CureFit?
Curefit has raised an estimated Rs 832 crore in fresh funding led by Temasek, the Singapore government-backed investment company. CureFit has raised $75 million in a funding round led by existing investor Accel Growth, less than a year after it raised $120 million. According
to Mint calculations, the latest investment values the company at over $500 million. CureFit raises funds from Accel, others in the deal that values it at over $500 million.
How they make money?
Cure.Fit is the first to provides five interconnected offerings like workout plans, diet plans, Doctor consultations, meditation and yoga on one platform. Hence, cross-selling of products has happened easily, helping grow its revenue. In an interview with Mint, Ankit Nagori mentioned that a typical customer pays them Rs. 25,000 (approx. 350 Dollars) Yearly. If things do well, they are planning to extend this amount to 1000 Dollars. So in a 20-year view, this is how they plan to create a 20 Billion Dollar business.
Who all are the Competitors of CureFit?
CureFit’s top competitors include MyFitnessPal, HealthifyMe, Noom, and Fastic.
MyFitnessPal:
MyFitnessPal is a smartphone app and website that tracks diet and exercise. The app uses gamification elements to motivate its users. To track nutrients, users can either scan the barcodes of various food items or manually find them in the app’s large pre-existing database. In the year 2019, MyFitnessPal generated a revenue of 108 million dollars.
HealthifyMe:
HealthifyMe is an Indian digital health and wellness platform that provides services such as calorie tracking, one-on-one nutrition and fitness coaching, and diet and workout plans. The app takes a holistic lifestyle tracking approach to keep users engaged and motivated. HealthifyMe has witnessed 3X growth, surpassing Rs 100 crore in revenue.
Noom:
Noom is an app that takes a behavioral approach to weight loss to “trick” your body into building healthier habits. Noom closed 2019 with $237 million in revenue, up from $61 million and $12 million in the two previous years, respectively.
Fastic:
Fastic is One of the most popular Intermittent Fasting App providing ways of intermittent fasting for those who are interested in fat loss, muscle gain, and want to have a healthy and balanced lifestyle. Founded in 2019, Fastic generated revenue of 4.3 million.
Recent controversy:
In the month of May as reported by English daily The Hindu, Cure.Fit fired 1000 employees. In a statement given by Cure.Fit it is stated that due to the pandemic and lockdown, the company had to undergo some changes. The lockdown affected the business and the market as well. They also had to cut the salaries of employees.
In 2019, Cure.Fit and their Brand Ambassador Hrithik Roshan were accused of cheating. Complaint filed by a customer stating he was not given a daily workout despite paying Rs.17,490 For a 10-month membership. But the company denied all the charges saying the customer behaved inappropriately with the staff.
In August 2019, BookYourGame- a market place to discover and book fitness centers, claimed that Cure.Fit tried to acquire confidential information but Cure.Fit had denied all the allegations.
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FAQs:
What is CureFit?
A leading healthcare company offering services for mental and physical well-being Cure.Fit (CureFit Healthcare Pvt. Ltd) is a preventive and curative healthcare and fitness company. They aim to make fitness fun and easy. Cure.Fit gives workouts a whole new meaning with a range of trainer-led, group workout classes. Cure.Fit delivers physical and mental wellbeing across 4 flagship verticals- Cult.Fit, Eat.Fit, Mind.Fit, and Care.Fit.
Is CureFit and CultFit same?
CureFit is the main company or brand name and CultFit is their Fitness or workout centers.
Who owns CureFit?
Mukesh Bansal and Ankit Nagori co-founded Cure.Fit in 2016. Mukesh Bansal who also founded Myntra currently serves as the CEO of Cure.Fit.