Tata Digital will invest up to US$75 million (₹546 crores) in fitness start-up CureFit for an undisclosed stake, the company announced on Monday. As part of the deal, CureFit Founder and CEO Mukesh Bansal will join Tata Digital in an executive role as President. The investment is currently subject to completion of regulatory requirements, the press release stated. "The Indian fitness and wellness market is growing at ~20% p.a. and is expected to reach ~$12 bn by 2025. CureFit is uniquely positioned to capture a large share leveraging its comprehensive solution and differentiated tech platform. Curefit, with its range of fitness & wellness offerings, will help Tata Digital expand into a pro-active health management space." — Tata Digital press release Tata Digital, which is a 100% subsidiary of Tata Sons, is focused on building digital businesses for the Tata conglomerate, for which it has reportedly been allocated ₹12,000 crores. This is the second major investment in the health space for Tata Digital this year. In April, the company infused ₹100 crore debt funds in online pharmacy and health-tech company 1mg, in which it is expected to pick a 50% stake. Tata Digital also recently received government approval for acquiring a majority stake in online grocery startup BigBasket. Surviving the pandemic CureFit, a Bangalore-based start-up co-founded by Bansal and Ankit Nagori in 2016, offers digital and offline experience in fitness, nutrition, health diagnostics, consultations, and mental well-being. CureFit was valued at around $800 million last year when Singapore’s Temasek had invested in the firm. The company was severely impacted…
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