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Tata Digital to invest up to $75M in Cure.Fit

curefit funding

Tata Digital Limited has entered into a Memorandum of Understanding (MoU) for investing up to $75 million in CureFit Healthcare Private Limited, subject to the completion of the required process and other approvals.   

The statement added that Mukesh Bansal, Founder and CEO, Cure.fit will join Tata Digital in an executive role as President. Mukesh will also continue in his leadership role at CureFit.

Mukesh Bansal, Co-founder and CEO of Cure.Fit, said, “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 a next-generation consumer platform and I am very excited to be part of the Tata Digital team that is shaping this vision.” 

The statement added that the fitness and wellness market in the country is growing at 20 percent per annum, and is foreseen to reach $12 billion by 2025. Cure.fit will help Tata Digital expand into a proactive health management space. 

N Chandrasekaran, Chairman, Tata Sons said, “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.”

He added, “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.” 

CureFit is a market leader and strives to use its technology platform to improve user experience and increase the penetration of fitness in the Indian market. 

Sudhir Sethi, Chairman, Chirate Ventures from Cure.Fit board said, “Tata digital partnership will significantly accelerate Cure.fit’s growth as a fitness and wellness leader, and it will open up access to a large set of the new consumer base. It is a strong validation of the category leadership that Cure.fit has and helps Cure.fit grow rapidly as digital health takes off in a big way in next decade.”

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