CureFit, a healthcare and fitness start-up launched by former Flipkart officials Mukesh Bansal and Ankit Nagori, has raised as much USD 15 million (around INR 100 crore) in Series A funds from Kalaari Capital, Accel Partners and IDG Ventures. Curefit is the first Indian set up to get such a huge capital in the early rounds of funding.
To be launched in 2017, CureFit will be a platform that will enable users to manage their health proactively through a gamut of service offerings. The company will launch an app in the first half of next year that will offer preventive healthcare services. It also plans to tie up with offline health and fitness service providers such as gymnasiums.
The company has initially hired 10 employees to work on product building, technology and other functions.
“We aim to build out an innovative product which will help the consumers manage their health proactively with heavy use of technology and data. We will offer solutions to all people who want to live healthily and avoid lifestyle diseases. So, we will first focus on preventive healthcare and then expand to other areas. We’re looking at this market as a 8-10 year play,” Bansal said.
All of the three investors, Kalaari, Accel and IDG, had also assisted Bansal in his previous venture Myntra, the online fashion retailer. In May 2014, Flipkart bought by Myntra at USD 330 million-plus deal.
Earlier in February, Bansal and Nagori resigned from their designated posts of commerce platform head and chief business officer, respectively. Their departures followed a restructuring at Flipkart in January in which the firm named its new chief executive Binny Bansal, replacing Sachin Bansal.
In March, Bansal and Nagori said they pooled in $5 million to launch a start-up in the area of healthcare and sports and fitness.
Over the past few months, health Tech has been buzzing, with startups getting involved in hospital management systems, doctor discovery, delivery of medicines, and now more importantly home healthcare services. Healthcare start-ups such as Practo and 1mg are adding sport and fitness categories to boost user engagement.