Tata Digital to invest in Curefit
June 08, 2021
Tata Digital Ltd. a completely owned subsidiary of Tata Group, will put $75 million in fitness startup Curefit. Mukesh Bansal, the co-founder, and CEO of the Bengaluru-based startup will join Tata Digital as president and keep on driving his organization also.
The investment for which Tata Digital has gone into a memorandum of understanding (MoU) with Curefit is subject to completion of the diligence process and different approvals, as per a statement on Monday.
It wasn’t quickly clear at what valuation Tata has put resources into Curefit. The organization was last valued at around $800 million, not long before the beginning of the Covid-19 pandemic a year ago, when Singapore’s Temasek had put resources into the firm.
Curefit, which checks Tata Group’s Chairman Emeritus Ratan Tata as an early investor, is the third huge startup speculation by the salt-to-programming combination as it hopes to build its advanced play against the likes of Amazon India, Reliance, and Walmart-Flipkart.