On Monday, a subsidiary of Tata Sons Tata Digital made an announcement of making an investment of $75 million in fitness startup CureFit.
CureFit founder and CEO, Mukesh Bansal has joined Tata Digital as the President. Additionally, he will be continuing his leadership role at CureFit as per the company.
N. Chandrasekaran, the Chairman of Tata sons mentioned, “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.”
Now, Tata Digital has set up an operation in August 2019 for building consumer-centric digital businesses for deeper consumer engagement and their requirements across the different verticals.
However, CureFit is a leading player in the fitness and wellness market which is growing around 20per cent per annum and it is expected to reach almost $12 billion by 2025. Before the announcement, CureFit has earned almost $418 million.
Bansal mentioned, “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.”
CureFir offers a holistic range across fitness and yoga, mental wellbeing, healthy meals, and consultation diagnostics as well as personal training.
Sudhir Sethi, Chairman Chirate Ventures from CureFit board mentioned, “Tata digital partnership will significantly accelerate CureFit’s growth as a fitness and wellness leader and it will open up access to a large set of the new consumer base.”