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

Tata Digital, a subsidiary of Indian conglomerate Tata Sons, stated on Monday it has signed a deal to speculate as much as $75 million in health startup CureFit. As a part of the deal, CureFit co-founder and chief govt Mukesh Bansal will be part of Tata Digital as President and in addition proceed in his function on the Bangalore-headquartered startup.

Monday’s funding is the salt-to-steel large’s newest effort to increase its presence within the client tech house. Earlier this yr, Tata Group acquired majority stake in online grocery startup BigBasket, and is reportedly in talks to accumulate on-line pharmacy 1mg, in line with native media experiences.

Prior to at the moment’s announcement, CureFit had raised about $418 million and was final valued at $815 million, in line with perception agency Tracxn. The startup, which expanded to the U.S. market last year, had about 1.5 million month-to-month energetic customers in India final month, in line with cellular perception agency App Annie — knowledge of which an trade govt shared with TechCrunch.

“Joining Tata Digital marks an thrilling new step for me and my group and is a recognition of the worth now we have created with CureFit for health lovers in India,” stated Bansal, who offered his earlier enterprise Myntra to Flipkart, in an announcement.

“Being a part of Tata Digital will allow us to nationally scale up our choices for our clients,” he added.

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