Temasek in investment talks with Cure.fit
today Dec 2, 2019
Singapore state investment arm Temasek is currently in talks with the health and fitness business Cure.fit and could invest up to $100 million (Rs 665.3 crore) in the start-up to help it expand operations.
As part of Temasek’s plan to invest in more tech start-ups and diversity its portfolio, it is in talks to invest in Cure.fit, two anonymous sources told Mint. “Temasek is actively scouting for late stage technology investments in India and wants to cut cheques of at least $75 million,” said the sources. “Cure.fit needs the capital to grow its food and diagnostics plays, and the deal is expected to close in six to eight weeks."
The business retails athleisure and active wear apparel on its e-commerce store through its new private label brand Cultsport. Cure.fit launched Cultsport in September 2019 with a collection of men’s and women’s t-shirts, leggings, joggers, and sweaters starting at Rs 800.
Mukesh Bansal and Ankit Nagori launched Cure.fit in 2016 as a health and fitness start-up. The business runs a number of subsidiaries including Cult.fit which runs gyms, Eat.fit which offers healthy eating options, Mind.fit which runs wellness programmes, and Care.fit which runs diagnostic centres.
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