Tata Digital to invest in Curefit, ropes Mukesh Bansal as its new President
Tata Digital will invest 75 million in fitness startup Curefit. Mukesh Bansal, the co-founder, and chief executive officer of the Bengaluru-based startup, will join Tata Digital as president and continue to lead his company as well.
The speculation for which Tata Digital has entered into the communication of considerate (MoU) with Curefit is subject to the conclusion of the thoroughness development and other approvals.
It wasn’t instantly apparent at what appraisal Tata has invested in Curefit. The company was last esteemed at around 800 million, just before the onset of the Covid-19 pandemic last year, when Singapore’s Temasek had invested in the firm.
N Chandrasekaran, chairman of Tata Sons Pvt. Ltd, states, “With his (Mukesh Bansal’s) deep consumer experience and an entrepreneurial mindset of having incubated and grown two very successful businesses, his expertise will bring immense value to us.”
Mukesh, states, “Being part of Tata Digital will enable us to nationally scale our offerings for our customers. Tata Digital has a highly inspiring vision to create a next-generation consumer platform.”
Mukesh joined Flipkart after Myntra was sold and worked closely with its founders, particularly Sachin Bansal. In 2016, he started Curefit with Ankit Nagori, a previous senior Flipkart executive. The fitness startup has been strictly impacted by the pandemic and the ensuing lockdowns, forcing it to shutter numerous of its Cult and Fitness First gyms.
Following the first Covid-19 wave last year, Curefit, which also functioned Eatfit, fasten numerous of its cloud kitchens that served online food orders, along with offline outlets.