Tata Digital-backed health-tech platform Cult.fit, formerly known as Cure.fit, has secured $10.2 million in its Series F funding round. The investment was led by Valecha Investments, as confirmed by regulatory filings with the Registrar of Companies (RoC).
Cult.fit: Continued Investor Confidence
Entrackr, a startup news portal, was the first to report about the funding, highlighting the continued interest and support from investors in the health and wellness sector. This funding round adds to Cult.fit’s already impressive track record, with the homegrown platform having raised over $670 million from prominent investors such as Tata Digital, Zomato, Temasek, and Kalaari Capital.
Structural Adjustments for Long-Term Viability
Despite its success in fundraising, Cult. fit recently underwent restructuring measures to achieve profitability by FY25. It included laying off nearly 150 employees, reflecting the company’s commitment to sustainable growth and financial stability.
Strategic Expansion and Acquisition
These actions have not deterred Cult.fit’s ambitious expansion plans, as demonstrated by its acquisition of the India business of renowned fitness chain Gold’s Gym in 2022, signalling its intent further to consolidate its presence in the health and wellness market.
The funding secured by Cult.fit comes amid a challenging landscape for Indian startups, with the ecosystem witnessing layoffs, shutdowns, and top-level exits.
Outlook for the Healthtech Sector
Despite these challenges, the health tech sector attracts significant investor interest, driven by growing consumer awareness and demand for digital health and wellness solutions. Cult.fit’s latest funding round underscores investors’ confidence in the platform’s innovative offerings and its potential to drive positive outcomes in the health and wellness space.
As Cult.fit continues to scale and expand its operations, the latest funding injection will likely be instrumental in furthering its mission to authorize individuals to happy and healthy lives through accessible and personalized health and wellness solutions.
