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Business News/ Companies / News/  Curefit nets $145 mn at a valuation of $1.56 bn
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Curefit nets $145 mn at a valuation of $1.56 bn

The company has already approved the sale of 22.5 million Series F compulsorily convertible cumulative preference shares (CCPS) and one equity share at ₹483.62 for aggregate gross proceeds of ₹1,088.5 crore ($145 million)

In June, Curefit had raised $75 million from Tata Digital, a wholly owned unit of Tata Group Holding entity Tata Sons (MINT_PRINT)Premium
In June, Curefit had raised $75 million from Tata Digital, a wholly owned unit of Tata Group Holding entity Tata Sons (MINT_PRINT)

Fitness startup Curefit, whose growth-financing round worth $145 million is being led by foodtech unicorn Zomato, is now valued at $1.56 billion, according to regulatory filings.

The company has already approved the sale of 22.5 million Series F compulsorily convertible cumulative preference shares (CCPS) and one equity share at 483.62 for aggregate gross proceeds of 1,088.5 crore ($145 million), the filings showed.

Zomato, Temasek, South Park, Accel and a few individuals, including the company’s co-founder Mukesh Bansal, Paras Sanghvi and Apurva Doshi, participated in this funding round.

The company has sold 15.5 million CCPS and an equity share to Zomato, and 775,000 CCPS to its co-founder Mukesh Bansal for gross proceeds of 787.5 crore (over $100 million), according to the regulatory filings.

Temasek is expected to invest an additional $25 million, with South Park and Accel putting in another $10 million and $5 million, respectively. IIFL partners Paras Sanghvi and Apurva Doshi will invest 50 lakh each.

In June, Curefit had raised $75 million from Tata Digital, a wholly owned unit of Tata Group Holding entity Tata Sons.

Co-founder Mukesh Bansal also took an executive role at Tata Digital as president.

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Published: 03 Dec 2021, 11:26 PM IST
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