Private Equity

Other Private Equity/Strategic Investments

Fitness startup Cult.fit raises $2-M from First Luxembourg SCA

Inc42  

Bengaluru-based fitness platform Cult.fit (formerly Cure.fit) has raised about USD 2 million (INR 16.8 crore) from existing investor First Luxembourg SCA at a valuation of USD 1.6 Billion. The firm would issue 3.4 lakh CCPS to Fitness First Luxembourg SCA at INR 483.62 a piece to raise the amount.Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cure.fit runs physical fitness platform Cultfit, mental health platform Mindfit, primary care vertical Care.fit, among others. Bengaluru, Hyderabad, Delhi NCR, Mumbai, Pune, and Chennai account for 90% of the startup’s revenue.In FY24, the firm’s operating revenue grew 33.6% to INR 926.6 crore from INR 693.7 crore in FY23.

Between Jul 2016 and Oct 2023, Cult.fit had attracted about USD 631 M from Valecha Investments, 360 ONE, Accel India, South Park Commons, Temasek, Zomato, Pratithi Investments, Trifecta Capital, UC-RNT Fund, Chiratae Ventures, Kalaari Capital and others.