Health and wellness platform Cult.fit, formerly known as Cure.fit, has raised Rs 440 crore ($47 million) in a recent funding round from Temasek through its investment arm MacRitchie. This investment marks a significant step in Cult.fit’s journey towards a potential public listing.
Founded in 2016, Cult.fit operates on a hybrid fitness model that integrates digital offerings via its app with physical fitness centers across 300 cities in India. The platform offers subscription-based fitness plans, including access to gyms, group classes, and virtual training sessions.
The funding round saw the board of Cult.fit allocate Series G CCPS to Temasek, maintaining the company’s valuation at Rs 13,668 crore or $1.45 billion post-money. With this investment, Temasek will now hold a 12% stake in the firm.
Looking ahead, Cult.fit is gearing up for its IPO, with plans to raise Rs 2,500 crore (approximately $300 million) through the public offering. The company has appointed a lineup of bankers to lead the IPO, including Axis Capital, Jefferies, Goldman Sachs, Morgan Stanley, and JM Financial.
Despite the challenges posed by the pandemic, Cult.fit reported a 31% increase in operating revenue for the fiscal year ending March 2025, reaching Rs 1,216 crore. The company’s losses also narrowed by 10% during the same period, demonstrating its commitment to financial sustainability.
Source: Entrackr : Latest Posts