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CureFit raises $15M from Accel, IDG and Kalaari for a service that seems similar to Goqii


Healthcare startup CureFit, which looks like it is going to be similar to Vishal Gondal’s Goqii, has raised $15 million from Accel Partners. IDG Ventures, and Kalaari Capital. The company was started by former Myntra and Flipkart executives Mukesh Bansal and Ankit Nagori; IDG was an investor in Bansal’s last startup, Myntra, while Accel Partners is an investor in Flipkart.

CureFit plans to be a platform which provides users with health data and allow them “to manage their health end to end”, combining “coaching and delivery through a mix of online and offline channels. Note that the startup claims to launch fully to consumers by 2017, and plans to provide a platform offering multiple services in healthcare and fitness. What’s not clear is whether Curefit will take an aggregation approach, allowing fitness providers and healthcare professionals to sign up for a marketplace and allow consumers to pick service providers, or whether it will take a Goqii approach, where in many of the coaches are in-house employees. What’s also not clear is whether it will focus on India as a market, or take a global approach.

Apart from this, it’s also worth noting that health is a space that Google and Apple are eying: both have toolkits for health applications, and while there is fragmentation in the health app space, the aggregation of data is likely to take place with Google and Apple through multiple apps.

MediaNama has written to Curefit for more clarifications and will update the story once we hear from them.


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Elsewhere in the fitness marketplace world

Ex-Jabong executive Rukaiya Kanchwala, who floated the fitness startup ClassVerse in June 2015, shut down the company in May this year, almost 10 months after launch, as indicated by this Tech Circle report. ClassVerse was a fitness marketplace, which provided users access to fitness studios, classes in kickboxing, yoga, and gyms, for a monthly membership fee, with a “pay-as-you-use” approach.

This is was its founder Rukaiya Kanchwala had to say:

“While we were seeing a strong month-on-month growth, the market size was not big enough. The cost of customer acquisition was high. Also, we did not see enough traction in terms of users coming to the portal. The market was not there.”

Salman’s Take: I have personally used services from Fitness startups like Gympik and Fitternity that aggregates gyms in a locality. It is largely helpful for first-time gym users who are confused about picking the right gym for their workout regime. Both startups offer 1-week trial offers that helps users evaluate the best gyms later. However, startups like HealthifyMe and Fitcircle who aggregate fitness providers, and healthcare professionals like nutritionist, doctors, etc. on its platform, seem to be taking the easy way out by tying up with corporates as safeguard since big companies offer an immediate pool of users. This strategy is increasingly common in many fitness startups in the country and is not really “innovative” or “solving real-world problems”.

(With inputs from Nikhil Pahwa)

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