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CureFit to launch quick service restaurants in Bangalore: report

Healthcare startup CureFit will launch its first quick service restaurants (QSRs) in Bangalore in the coming weeks, reports the Economic Times. CureFit will pump in Rs 40–45 lakhs into each of these QSRs. Co-founder Ankit Nagori told the publication that ‘having an outdoor presence was important’ and that this was a pilot.

The Bangalore–based startup currently offers health and fitness solutions through four verticals:
CultFit offers fitness centers and home DIY workout sessions
EatFit is a health food delivery service for daily meals, available in Gurgaon and Bangalore through the CureFit mobile app and Zomato
MindFit offers yoga and meditation classes at fitness centers at home
CareFit provides video consultations with doctors, health check-ups, and is coming up with personalized family health plans

CureFit is available in Delhi NCR, Hyderabad, Mumbai and Bangalore. As of July, it claims to have 100,000 active subscribers on its platform. The QSRs seem like a diversification of its EatFit offering which has delivery-only outlets in Delhi NCR and Bangalore.

Nagori founded CureFit along with former Myntra and Flipkart colleague Mukesh Bansal in March 2016.

CureFit’s funding

  • In July, the startup raised $120 million in a Series C funding
  • In April, Flipkart co-founder Binny Bansal and Myntra-Jabong CEO Ananth Narayanan pumped in Rs 4.18 crore in Cure.fit.
  • In 2017, it raised $25 million from Accel Partners, Kalaari Capital, IDG Ventures and the UC-RNT fund
  • In 2016, the startup raised $15 million from Accel Partners

Acquisitions and investments

CureFit has been acquiring and investing in health–related services:

  • In May, it acquired fitness chain Fitness First for an undisclosed amount to expand its presence in Delhi and enter Mumbai.
  • Curefit also acquired a majority stake in Tribe Fitness Club, Gyms, which operated fitness studios along with specialized fitness programs like cross fit training, Yoga, Zumba, among others.
  • In 2016, the company also invested $3 million into fitness company Cult for a majority stake.

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