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CureFit completes $145 mn financing round at $1.56 bn valuation

By Ankit Agarwal

  • 03 Dec 2021
CureFit completes $145 mn financing round at $1.56 bn valuation
Credit: pixabay

Fitness startup Curefit, whose growth-financing round worth $145 million is being led by food-tech unicorn Zomato is now valued at $1.56 billion, according to regulatory filings.

The company has already approved an allotment of 2.25 crore Series F compulsorily convertible cumulative preference shares (CCPS) and one equity share at Rs 483.62 apiece for aggregate gross proceeds of Rs 1,088.5 crore ($145 million), the filings show.  

Zomato, Temasek, South Park, Accel, and a few individuals including the company’s co-founder Mukesh Bansal, Paras Sanghvi, and Apurva Doshi participated in this funding round.  

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The company has allotted 1.55 crore CCPS and an equity share to Zomato, and 7.75 lakh CCPS to its co-founder Mukesh Bansal for gross proceeds of Rs 787.5 crore (over $100 million), as per the regulatory filings.

Temasek is expected to invest an additional $25 million, with South Park and Accel putting in another $10 million and $5 million, respectively. IIFL partners Paras Sanghvi and Apurva Doshi will also invest Rs 50 lakh each.  

In June, Curefit raised $75 million from Tata Digital, a wholly-owned subsidiary of Tata Group Holding entity, Tata Sons. The deal escalated Co-founder Mukesh Bansal to an executive role at Tata Digital as President.  

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Prior to this round of funding, the company has raised close to $500 million in funding till date.

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