Cure.fit, one of the known fitness startup, is widening its boundaries with few known acquisitions. After buying 100% stake in California based Onyx in January, Cure.fit has acquired Fitternity, a fitness facilities aggregator. On Tuesday, the company revealed that it has acquired Fitternity to expend its offline fitness base. When asked about the financial details, neither Fitternity nor Cure.fit revealed any detail.
Fitternity is known for its offline fitness centres in India. The company has the largest chain of offline fitness. After the acquisition, the fitternity will still work independently but it will help Cult.fit, a fitness chain of Cure.fit, to scale up further. Cure.fit has launched a unique pass named cult pass. This pass is an offline pass to access any cult centre nationwide. It was launched in December month of 2020.
How Fitternity will Help Cure.fit?
Cure.fit is slowly expanding its offline base of fitness centres. Right now, Cult.fit centres are located in big cities only. This is the second acquisition of Cure.fit. in Janauary, the startup acquired Onyx, a California based fitness startup. Cure.fit is planning to start its operations in the USA through Onyx.
“Fitness in India is still in initial stages at sub 1% penetration. Over the next 10-20 years, this will increase to 15-20% like in the West. With increasing health awareness, demand is increasing, and we need to put up quality supply. With Fitternity on board, Cure.fit will improve existing offline gyms, bring them up to speed with better technology, and focus on empowering them to adjust to the post-Covid scenario amid changing consumer expectations,” said Mukesh Bansal, co-founder, Cure.fit.
Current acquisition of Fitternity will give a big boost to the offline operations of Cult.fit. it will provide 5000 offline centres access to cult.fit. these centres are located in 20 cities of India. Fitternity’s 3 million customers will add more value to the existing Cult.fit platform.
Cure.fit, with its online platform, will help Fitternity to expend its operations further. Cure.fit expects that Cult pass offering will provide double revenue after the current acquisition.
Neha Motwani, Cofounder and CEO of Fitternity, said that Fitternity always believed in innovations to provide based fitness solutions to the customers. Current acquisition will help the company further in adding more values. Fitternity will continue its main operations as earlier.
Other Details About Cure.fit
Last year, Cure.fit raised $75 million in equity funding from Accel, an existing investor. Cure.fit has a market cap of approximately $550 million.
Cure.fit is a popular fitness app over play store. It has a total of 5+ million downloads. An average rating of 4.4 by the existing users shows the wide acceptance of the startup. Under Cure.fit app, it has Cult.fit, Eat.fit, Mind.fit, and Care.fit services.
Cult.fit focusses on the fitness area, whereas Mind.fit provides you online consultation with subject experts like Orthopaedic Surgeon, Physicians etc. Mind.fit comes under the category of Care.fit in Cure.fit app. Mind.live, cult.live are the new online sessions started by Cure.fit platform.
Eat.fit provides customers with information about healthy foods. It also provides home delivery of those foods. Cult.fit is all about the fitness category. It tells you about different exercises for health. It also helps the customers in locating the Cult.fit offline centres. Cult.fit has a chain of 260 fitness centres in 18 major cities of 2 countries.