Connect with us

Hi, what are you looking for?

Tech

Indian giant Tata Digital to invest $75 million in fitness startup CureFit

Tata Digital, a subsidiary of Indian conglomerate Tata Sons, said on Monday it has signed a deal to invest up to $75 million in fitness startup CureFit. As part of the deal, CureFit co-founder and chief executive Mukesh Bansal will join Tata Digital as President and also continue in his role at the Bangalore-headquartered startup.

Monday’s investment is the salt-to-steel giant’s latest effort to expand its presence in the consumer tech space. Earlier this year, Tata Group acquired majority stake in online grocery startup BigBasket, and is reportedly in talks to acquire online pharmacy 1mg, according to local media reports.

Prior to today’s announcement, CureFit had raised about $418 million and was last valued at $815 million, according to insight firm Tracxn. The startup, which expanded to the U.S. market last year, had about 1.5 million monthly active users in India last month, according to mobile insight firm App Annie — data of which an industry executive shared with TechCrunch.

“Joining Tata Digital marks an exciting new step for me and my team and is a recognition of the value we have created with CureFit for fitness enthusiasts in India,” said Bansal, who sold his previous venture Myntra to Flipkart, in a statement.

“Being part of Tata Digital will enable us to nationally scale up our offerings for our customers,” he added.

This is a developing story. More to follow…

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

World News

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered...

World News

George Soros and Bill Gates are part of a consortium acquiring a British developer of rapid-testing technology, including for Covid-19 and tropical diseases,...

Tech

If you parked your car in one of the thousands of parking spots across Calgary, there’s a good chance you paid the Calgary Parking...

Investing

ForexMay 27, 2021 02:04AM ET (C) Reuters. By Peter Nurse Investing.com — The dollar edged higher in early European trade Thursday, finding support from...

Disclaimer: Yourmorningvoice.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. Copyright © 2021 Your Morning Voice. All Rights Reserved