SoftBank is reportedly considering an investment of between $200m and $350m in CureFit, whose existing investors include the University of California-backed UC-RNT Fund.
CureFit, a India-based healthcare and wellness services provider backed by UC-RNT Fund, is in talks to raise at least $200m from SoftBank Vision Fund, an investment vehicle managed by telecoms conglomerate SoftBank, Times of India reported today.
The report cited three sources familiar with the development who said the deal could value CureFit at more than $1bn. One source suggested SoftBank’s commitment could be worth between $200m and $250m while a second stated that the investment could be as much as $350m.
Founded in 2016, CureFit initially focused on operating a gym chain called Cult.Fit before adding a food delivery unit called Eat.Fit, a diagnostic services division named Care.Fit and a wellness vertical dubbed Mind.Fit.
The company currently operates 130 Cult.Fit locations across four Indian cities and hopes to expand that presence to 10 cities and 250 gyms by the end of 2019. It also plans to…
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).
