Curefit Healthcare Private Limited (Cult.fit)

Sector: Health and Fitness, Digital Wellness  |  HQ: Bengaluru, Karnataka  |  Founded: 2016  |  Employees: ~3,500

Listed as: Privately held; backed by Tata Group (Tata Digital) and Accel, Kalaari, Chiratae, others  |  ,  |  Website →

Key people

• Mukesh Bansal (Founder and CEO)
• Naveen Tewari (Co-founder)

Company overview

Curefit Healthcare Private Limited operates the Cult.fit brand, India's largest organised fitness and wellness platform. Founded in 2016 by Mukesh Bansal (former founder of Myntra) and Ankit Nagori, Cult.fit operates over 700 fitness centres across 60+ cities in India under the Cult.fit, Cure.fit, and Eat.fit brands. The company was acquired by Tata Digital in 2021 as part of the Tata Neu super-app strategy.

Business model

Cult.fit gym chain (memberships and pay-per-class), Cure.fit primary care clinics (since wound down), Eat.fit healthy meal delivery, and the Mind.fit meditation and yoga vertical. The Tata Digital integration has been the principal post-acquisition strategy.

Operating segments

Recent developments

December 2024

Curefoods, the parent entity of Cult.fit, is actively pursuing a Series D funding round targeting $40 million [1][2]. The company has signalled intentions to pursue an initial public offering within approximately 18 months [1][2], suggesting a strategic shift toward capital market access as part of its growth trajectory.

Financially, Curefoods expects to generate ₹900 crore in revenue and achieve EBITDA breakeven during the current fiscal year [3]. This outlook signals improving unit economics and a potential inflection point as the company scales its hybrid model encompassing both digital wellness and physical fitness centres. The breakeven target, if achieved, would mark a significant operational milestone for the health and fitness platform.

Sources (3)

1. Curefoods in talks to raise $40 million in Series D round of funding, eyes IPO in 18 months - Moneycontrol.com · Moneycontrol.com · Wed, 25 Sep 2024
2. Curefoods seeks $40 million in Series D funding, eyes IPO - NewsBytes · NewsBytes · Wed, 25 Sep 2024
3. Curefoods expects ₹900 crore in revenue, Ebitda breakeven this year - Mint · Mint · Thu, 12 Dec 2024

Financial performance and recent trajectory

Curefit is privately held; FY24 reported revenue approximately ₹1,250 crore with continued losses. Tata Digital acquisition was at approximately USD 1.45 billion valuation.

Stock performance and shareholder context

Cult.fit is not separately listed. Tata Motors and Tata Consultancy Services holdings are the indirect exposure routes through the broader Tata Group structure.

Competitive position

India's largest organised fitness chain ahead of Anytime Fitness India, Gold's Gym India, F45 Training India, Talwalkars, and regional independents.

Key risks

Path to profitability; competitive intensity from boutique studios; gym membership churn; Tata Digital strategic refocus risk.

Outlook

Tata Digital integration and the Cult.fit brand monetisation through Tata Neu super-app are the key strategic trajectories.

KAMRIT point of view

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Disclaimer: This profile is compiled by KAMRIT Financial Services LLP for educational and benchmarking purposes only. It is not investment advice, a recommendation to buy or sell securities, or a solicitation. Stock data is provided by Yahoo Finance and may be delayed by up to 20 minutes. Company financial commentary draws on publicly available filings, exchange disclosures, and KAMRIT industry research. Readers should consult a SEBI-registered investment adviser before making investment decisions. KAMRIT is a financial services and compliance firm, not a SEBI-registered investment adviser.