Tata Digital to Invest $75M in Curefit - Indian Giant's Fitness Push

Tata Digital Invests $75 Million in CureFit

Tata Digital, a key part of the Tata Sons group, announced on Monday an agreement to invest up to $75 million in the fitness technology company, CureFit.

This investment signifies a strategic move for Tata Digital, aiming to bolster its position within the consumer technology sector.

Leadership Changes and Strategic Alignment

As a result of this deal, Mukesh Bansal, the co-founder and current CEO of CureFit, will assume the role of President at Tata Digital.

Importantly, Mr. Bansal will maintain his leadership position at the Bangalore-based CureFit startup concurrently.

Expanding Tata’s Consumer Tech Portfolio

This investment follows Tata Group’s recent acquisition of a majority stake in the online grocery platform, BigBasket.

Reports from local media outlets also suggest that Tata Group is currently exploring the possibility of acquiring the online pharmacy, 1mg.

CureFit’s Funding and Valuation

Before today’s announcement, CureFit had successfully secured approximately $418 million in funding.

The company was most recently valued at $815 million, as reported by the data analytics firm, Tracxn.

The specific valuation resulting from Tata’s investment was not disclosed by either company.

User Base and Market Performance

CureFit expanded its operations to the United States market in the previous year.

However, data from App Annie, a mobile insights company, indicates a decrease in monthly active users in India.

The platform had around 1.5 million monthly active users in India last month, a decline from approximately 4.5 million in April 2020 – information shared with TechCrunch by an industry source.