CureFit, a healthcare and fitness
start-up has acquired a controlling stake in Cult, which operates two fitness
centres in Bengaluru for $3 Million. Started in 2015, Cult tries to
differentiate itself from traditional gymnasiums by offering fitness training
in the form of martial arts, kickboxing, and other such activities. It doesn’t use
traditional gym equipment such as trademills and weights.
Cult, which will continue to run as
an independent brand run by Telang, plans to expand to five centres by the end
of the year and 25 centres by December 2017. Cult has a unique training model
where the trainers mix and match various formats to deliver a holistic fitness
regime. The traditional fitness formats are a thing of the past and trainer led
group classes are something which will change the face of the fitness industry.
People are moving towards
functional training from the traditional ways of gymming. Cult offers a
differentiated solution which is very attractive for customers who are bored
with gyms. In July, CureFit raised as much $15 Million in Series A funds from
Kalaari Capital, Accel Partners and IDG Ventures, one of the most largest early
rounds of funding even by an Indian start-up.
CureFit, which has 12 employees,
plans to launch an app in the March quarter of next year that will first offer preventive
healthcare services. The company is finalizing tie-ups with offline health and
fitness service providers before its launch. It may make more acquisitions to
boost its offline presence.
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