CULT, the fitness focused startup will receive an investment of $3 million from the startup CUREFIT. CULT was founded by RishabhTelang, a fitness trainer and its vision is to bring a revolution about fitness in the country. It was founded in 2015 and has two offline centers and three upcoming ones.
The founder of Myntra and a former executive at Flipkart founded CUREFIT which raised $15 million from Accel Partners, IDG Ventures and Kalaari Capital. It is prepared to launch its platform in 2017.
CULT plans to expand its reach to over 25 offline centers by the end of 2017, and to 200 centers in the next 5 years.
RishabhTelang said, “CULT’s vision is to create a fitness revolution in the country by inspiring people to take up a fitness regime, and a healthier lifestyle in general. With this round of funding, we will be able to focus on expanding our footprint and use technology to provide a better experience to our customers.”
When asked about what led them to funding CULT, co-founder of CUREFIT, Mukesh Bansal said, “CULT has a unique training model which delivers a holistic fitness regime. Traditional fitness formats are a thing of the past, and trainer-led group classes will change the face of the fitness industry in the near future.”
CUREFIT allows users to monitor their heath through various service offerings. Through a fusion of online and offline channels it focuses on engagement, coaching and delivery of healthcare and fitness segments.
Practo, Portea, Goqii, HealthifyMe, GimPik, Gymer are other players that the startup will be competing in this segment.