PE Fund Investments
Wellness platform Cult.fit tops up Series F with $10-M led by Valecha Investments
Bengaluru-based health and wellness platform Cult.fit (formerly Cure.fit) has attracted INR 84.5 crore (USD 10.2 million) in an extended Series F round led by existing backer Valecha Investments.Valecha Investments led the round with INR 36.36 crore followed by Gul Advani who invested INR 28.26 crore. Extreme Brands LLP (Exceed Entertainment), L&K Wellness Services (Reset Life) and individuals Surendra Kedia, Sangeeta Mansharmani, Shraddha Sheth, Nikhil Kakkar, and Prashant Machwe contributed to the remaining sum.Cult.fit will issue 1,55,080 equity shares to Extreme Brands LLP and 15,92,157 Series C compulsory convertible preference shares (CCPS) to other investors at an issue price of INR 483.62 per share to raise INR 84.5 crore.Overall, Cult.fit has raised over USD 670 million to date from Zomato, Tata Digital, Temasek, Kalaari Capital and South Park Commons, among others.Post-allotment of the round, Accel India stands as the largest stakeholder in the company with 17.25% stake. Founder & CEO Mukesh Bansal owns a 10.5% stake.
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