An integral aspect of life like Fitness often gets neglected in the present day and age. With people generally unenthusiastic at the prospect of working out at a park or gym, not to mention the effortless accessibility to fast food, fitness has become even more crucial at this stage.
Yet with every body type being distinct, each fitness journey also becomes separate. This aspect of fitness requires a flexible solution which has resulted in various health and fitness businesses to endeavor to accomplish it by either launching personal trainers, healthy food alternatives as well as personalized gym schedules.
As popular chains like Talwalkars, Gold’s Gym, as well as Reebok Crossfit, already prevailed in the existing market, another fresh player, Cure.fit emerged, revolutionizing the fitness industry by offering a range of distinctive and exclusive services and presenting a whole new approach to the world of fitness.
“Living a healthy lifestyle involves a lot of work, so people who are extremely motivated are able to pull it off as they know where to go and what to do next. But not everyone is that motivated. So, if we want to help people solve their health problems, we need to make it really easy for them. Cure.fit acts as one platform where everything is available. We want to be an end-to-end, healthcare-focused platform.”
- Mukesh Bansal, CEO, Cure.fit.
Through this blog, we will provide you a gist about the platform of Cure.fit, about its founders, its business model, it’s funding, its success story, its origin, as well as its growth.
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Cure.fit is primarily a unifying health application which facilitates all the aspects of a healthy lifestyle within a single platform. The platform provides comprehensive health offerings in areas ranging from physical fitness and workouts, healthy food as well as the user’s mental well-being. The app facilitates workout courses in a range of formats, from yoga to dance, throughout the day, giving users plenty of opportunities to select the format they prefer. Headed by reputed trainers, the platform keeps track of performances through its Energy Meter, allowing users to contend with other users in real time and offering reports on a weekly basis.
The platform’s Energy Meter aids its users in comprehending the exertion they have extended in every workout. Upon the camera being enabled, the volatile movements can be recorded with the user being allocated with an energy score which allows them to contend with others in the course and then being given a class ranking upon the completion of every session.
Cure.fit presently has 4 business verticals, namely Mind.fit, Cult.Fit, Eat.Fit and Care.fit. It facilitates subscription models, in which the users can choose any of the four offerings or each of them. While Mind.fit presents programs for mental wellness, Cult.fit facilitates physical wellness programs such as yoga, weight lifting or martial arts. Meanwhile Eat.fit provides curated meals that are calorie calculated in order to complement the journey for weight loss or weight gain. Care.fit provides contact to trained healthcare experts.
“Even during my Myntra-Flipkart days a healthier lifestyle was a big part of what I used to do so a thought was always there at the back of my mind. When I moved on from Flipkart, I looked at few different industries including health and fitness and came to realize that it’s not only something I am passionate about but it’s also a very large market and consumer awareness for health and fitness is increasing significantly. From opportunity points of view also it sounded like we can build a large business and positively impact lives of many people.”
- Mukesh Bansal, CEO, Cure.fit to Entrepreneur
Cure.fit’s founders are Mukesh Bansal and Ankit Nagori who established the platform back in 2016.
Prior to establishing Cure.fit, Bansal is also renowned for having started Myntra, which emerged as a leading platform in the Indian world of fashion and was subsequently obtained by Flipkart. After the acquisition of Myntra, Mukesh Bansal took up the role of Head of Advertising Business & Commerce. After working at Flipkart for a couple of years, both Mukesh Bansal and Ankit Nagori took the decision of making their place within the fitness industry, by blending both technology and service and presenting its platform.
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“The idea was to make health and fitness a part of everyday life. For that, we looked at it from three parts – preventive, curative, and diagnostic. In the preventive side, we have fitness and food and MindFit, and the diagnostic and curative parts are being addressed by CareFit,”
- Ankit Gupta, Head of Engineering and Organisation Operations, CureFit.
Making every area and segment easier for the audience there are now an increasing number of applications each day, with an app emerging for each little service. This made the founders encounter the requirement for combining a range of offerings in a common platform, eradicating the need for a variety of applications and supplying an easy and comprehensive approach towards fitness and healthcare. This led to the founders setting up Cult.Fit, a platform which supplies a variety of services within a single platform.
Cure.Fit’s Business Model
Since Cure.fit’s broad vision is making holistic health as well as wellbeing effortlessly reachable for the people, the platform consistently emphasises on aspects like body, nutrition and the mind. Cure.fit’s business model comprises of four platforms for empowering a healthy lifestyle and provide solutions ranging from fitness, food as well as mental well-being:
Cult.fit : This segment is focused on making fitness more easier and interesting with the aid of expert class trainers as well as group workouts that can be executed both as group sessions in the platform’s centre or at home by deploying DIY’s workout videos. This segment facilitates different workout types such as enhancing strength,endurance of the muscles, flexibility, balance as well as stamina. Theplatform presents a fair blend of workouts which aids in improving health while allowing the users to enjoy it as well.
Mind.fit : This segment provides approaches towards mental fitness by offering a range of activities like medication, therapy as well as yoga. From handling anxiety or stress, enhancing the quality of sleep, developing focus, or exercising both the body and mind, the segment offers various different formats according to the requirements of the users.
Eat.fit : This platform facilitates fresh and appetizing dishes which are prepared carefully to ensure that they remain safe and healthy. A range of nutritious dishes in different kinds of cuisines are provided, with frequently changing menus, allowing the users with options to select from.
Care.fit : This segment offers primary healthcare requirements by facilitating consultation with doctors at its health centres via video conferencing. It provides superior facilities like an in-house Pharmacy and Diagnostics facilities.
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With a large section of the world confined to their homes to curb the spread of the COVID19, the at home economy has emerged into the picture, from food delivery to online education sessions. Fitness also isn't that far behind. With people not having access to the gym or fitness centres, many have started steering towards online fitness classes for the sake of burning some calories. The firm has also recently ventured into the arena of fitness wear.
“Due to Covid-19 and the changing culture, there is a demand for effective methods of working out without having to spend thousands of dollars on equipment or leaving the house. We offer a positive experience for anyone looking to work out, cook, or meditate. Our Energy Meter not only keeps users engaged throughout the entire class, it also gives them a goal to help achieve their desired level of fitness.”
- Mukesh Bansal, CEO, Cure.fit.
Curefit has gradually adapted to the present lockdown scenario by introducing a plethora of online services such as live workout sessions, online therapy, and various others. Apart from live online sessions, the platform has launched 8 digital products in the span of the lockdown which include online doctor tele-consultations, online nutritionists, online therapists, online personal training, online medical diagnostic services, fitness & health related e-commerce store as well as DIY recorded classes.
Although Covid-19 had compelled Cure.fit to put a hold on its UAE operations as well as its fitness centres, which had been their initial international foray they undertook in mid-2019, the platform has ventured back into the international market by introducing its digital products for free in the US and other English-speaking countries recently, as per a report from The Hindu Business Line. These products comprise Cult.live classes, online mental wellness classes as well as online food recipes.
Another recent development includes the platform has recently made its health food vertical Eatfit, making it an independent entity, for meeting the increasing demands of the consumers from the cloud kitchen sector.
The platform has now adopted a digital-first approach and has also undertaken the journey of restructuring its company’s businesses and verticals.
From the moment of its inception, Cure.fit has taken rapid strides and expanded to a great extent. The platform’s first fundraising round took place in April 2016, when it raised $55 million in its initial six rounds in equity and debt.
The platform’s most recent funding is Rs 832 crore, which it raised in March, 2020, in a round headed by Temasek.
As reported in July, 2020 by TechCrunch, Cure.fit has raised a total of $400 million from Kalaari Capital, Accel Partners, Temasek, and IDG Ventures, alongside participation from Chiratae Ventures and Oaktree Capital.
When it comes to acquisitions, the platform has acquired Cult (a fitness startup) as well as Kristy Kitchen (online food tech company), fitness club The Tribe, B2B logistics startup Opinio, as well as the Bengaluru-based yoga centre a1000Yoga.
“Our goal has always been to offer our users a seamless and outstanding experience. By merging real-time instruction and motivation with our proprietary Energy Meter, coupled with world-class trainers, the user experience of group fitness classes is second to none.”
- Ankit Nagori, Co-founder, Cure.fit.
Cure.fit’s primary vision is building an ecosystem for health, healthcare, and fitness. Despite the present circumstances that have put a hold on many businesses, the platform has continued to endeavor to strive forward. As it expands at a rapid pace, Cure.fit has presented an apparent change in the approach which the present assiduous world takes towards facets like physical activity and fitness.
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