Curefit Stakes Grows to Rs 1,100 Cr

Mukesh Bansal is an established serial entrepreneur whose first firm Myntra, which got sold to Flipkart and later taken over by Walmart’s retail ecosystem in 2018, is one of those celebrated entrepreneurs whose success needs no introduction.  

Bansal has been on his way towards making a deal for the third consecutive time with their new partner Ankit Nagori. After quitting Flipkart, Bansal and Nagori had launched an online and an offline fitness platform called Curefit in the year 2016. 

Cure.fit's last valuation was Rs 5,490 crore ($732 million) in the last round, has now spiked up in its valuation. Now while Bansal’s stake has jumped up to Rs 680 crore ($90 million), Ankit Nagori’s present holdings in the company are at Rs 420 crore ($56 million).

Bansal and Nagori presently hold 12.37% and 7.63% stakes respectively in Curefit. Ratan Tata who had earlier invested Rs 26.2 crore back in 2017, saw his stakes reducing to 0.48% after a fresh round in March. While Binny Bansal continues to hold 0.35% equity, Hritik Roshan, a famous Bollywood actor also holds shares of Rs 14.13 crore in this firm.

Bansal drove the company valuation to over Rs 5,400 crore, taking much less time as compared to his peers. Cure.fit has also ventured into grocery with Whole.fit apart from offering services based around health and fitness.