Temasek could reportedly invest in CureFit at a valuation of $800m, three years after UC-RNT Fund supplied $25m to the wellness services provider.
CureFit, an India-based healthcare and wellness services provider backed by UC-RNT Fund, has entered discussions with Singaporean state-owned investment firm Temasek to raise $100m, LiveMint reported yesterday.
The company is targeting a valuation of approximately $800m, up from $575m six months ago. The deal is expected to close within six to eight weeks according to a person familiar with the matter.
Founded in 2016, CureFit operates a network of fitness centres across 16 Indian cities called Cult.Fit. It also provides a healthy food delivery service, Eat.Fit, mindfulness platform Mind.Fit and diagnostic services tool Care.Fit.
The new funding would go towards the expansion of Eat.Fit and Care.Fit. The company has already opened a first Eat.Fit café (pictured), and has raised more than $281m in equity and debt financing to date.
CureFit most recently collected $120m in a round backed by Unilever’s corporate venture capital subsidiary, Unilever…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
