CureFit, a healthcare startup started by former Flipkart executives Mukesh Bansal and Ankit Nagori, is in talks to raise fresh capital from HFX, Hrithik Roshan’s clothing brand, and Tata’s new venture fund with University of California Investments. The startup had planned to raise $15-20 million in current year, and the ongoing talks with the two are expected to be contributing to the same. Ratan Tata has been an active investor in the domestic startup industry and have stake in more than 25 startups including major ones such as Snapdeal, PayTM, Zivame etc. It had already raised $20 million since its inception from investors such as Kalaari Capital, Accel Partners and IDG Ventures.
The startup operates as a direct seller of healthcare services including fitness, health food and others through its 4 companies/division – CureFit Logistics, New World Inventions, CureFit Healthcare and Curefoods. Since its inception the company has acquired 3 startups in the fitness and mental health space. With the burgeoning middle class and its high rate of digital services adoption, the digital healthcare industry is expected to become the next bright spot for the domestic economy. Deloitte Touche Tohmatsu India, the audit consulting firm, estimates that with increased digital adoption, the Indian healthcare market, which is worth about $100 billion right now, will likely grow to $280 billion by 2020.