SoftBank Vision fund is mulling to invest 200 million dollar in CureFit. If this plan materializes, the wellness and fitness startup will acquire ‘Unicorn Status’.
Times of India today reported more details on the development. The discussion for CureFit comes even as the Bengaluru-based startup raised 75 million dollar from existing backers recently, when it was valued at about 500 dollar million. The talks are still in an early stage and parties have not agreed on the total size of the capital-raise. While one source said, SoftBank is likely to invest 350 million dollar.
The development also comes at a significant time when SoftBank has backed baby and kids retailers FirstCry and is in advanced talks to invest 350 million in eyewear brand Lenskart. Both these companies also have a significant offline presence, like CureFit.
Co-founder Mukesh Bansal started CureFit in 2016 along with Flipkart Executive Ankit Nagori. Bansal sold Myntra for over 300 million to Flipkart back in 2014. The company started with fitness chain Cult.Fit and also expanded to food delivery platform Eat.Fit, diagnostic services unit Care.Fit and wellness unit Mind.Fit.
The information contained in this article is for educational and informational purposes only and is not intended as a health advice. We would ask you to consult a qualified professional or medical expert to gain additional knowledge before you choose to consume any product or perform any exercise.