In the recent update, Tata Digital( subsidiary of Tata Group) will invest $75M in wellness and fitness startup – CureFit. Post this move, Curefit CEO – Mukesh Bansal will take the leadership role in Tata Digital.
In the fight against digital ecosystem giants – Amazon, Reliance & Flipkart, Tata Group’s move in Curefit is the third significant investment. Recently, Tata has added Big Basket and 1mg(in process) to its digital portfolio.
Mukesh Bansal, who founded and sold fashion evolution app – Myntra, has been running CureFit for the past five year. The unique wellness model of driving fitness outside conventional machine gyms has attracted significant enthusiasts over the years. Recently, CureFit has added Mental Wellbeing, EatFit and Fitness Equipments to their offering list. Though, COVID resulted in significant restructure of the business, CureFit still looks like an attractive business model.
“With his (Mukesh Bansal’s) deep consumer experience and an entrepreneurial mindset of having incubated and grown two very successful businesses, his expertise will bring immense value to us,” said N Chandrasekaran, chairman of Tata Sons Pvt. Ltd.
“Being part of Tata Digital will enable us to nationally scale our offerings for our customers. Tata Digital has a highly inspiring vision to create a next-generation consumer platform” Bansal said.