Funding Alert

Tata backed Curefit raises $145 million from Zomato and South Park Commons

• ByTejika Bajaj     |    December 3, 2021

Tata backed Curefit recently announced that it  has raised $145 million in a new financing round from Zomato, South Parks Common, Accel, Temasek and a few other investors. The co-founder of the company Mukesh Bansal also participated in this round of funding.

The fitness platform has approved the allotment of 2,25,07,343 Series F preference shares and 1 equity share at an issue price of INR 483.62 per share, thus raising an aggregate amount of INR 1,088 crore. This round of investment has taken the valuation of the startup to a whopping $1.56 billion.

The food delivery platform Zomato has invested $100 million in the Bengaluru based startup whereas Temasek and South Park have infused $25 million and $10 million in the startup respectively. Accel and Mukesh Bansal have each infused $5 million in this round. IIFL partners Paras Sanghvi and Apurva Doshi also invested Rs 50 lakh each.

This announcement comes a month after Zomato had announced that it will invest $100 million in Curefit which included a $50 million cash investment plus the value of Fitso business for a 6.4% stake in Tata Digital controlled company.

Curefit, which is now a part of Tata Digital, had signed a strategic deal with the subsidiary of Tata Sons Private Ltd in June to receive up to $75 million. Before the deal, Curefit also acquired Eat.Fit which is now headed by Curefit’s other co-founder Ankit Nagori. Nagori swapped his equity in Curefit for larger ownership in the cloud kitchen business.

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