- Fitternity will continue to operate as a separate platform.
- Cure.fit is a preventive and curative healthcare & fitness company headquartered in Bengaluru, India.
- Fitternity allows users’ to find and book fitness services through a network of 12,000+ partnered gyms and studios.
Health and fitness startup Cure.fit has acquired Mumbai-based fitness facilities aggregator Fitternity for an undisclosed amount. Fitternity will continue to operate as a separate platform.
With this acquisition, Cure.fit and Fitternity will collectively have more than 5,000 fitness centers across 20 metro cities in the country. Currently, Fitternity has its presence in cities including Delhi-NCR, Mumbai, Pune, Banglore, Ahmedabad, Chandigarh, Jaipur, Faridabad, Kolkata, and Goa.
Additionally, Cure.fit will be able to scale-up its recently launched Cult Pass, where users get an all-access pass to the partnered gyms and cult centers across the country, the statement said.
Meanwhile, Cure.fit is also looking to help offline gyms and centers for technology-up-gradation and operating procedures to help them increase their footfalls and business revenue, the statement added.
“With this acquisition, we hope to build a stronger ecosystem of fitness centres and gyms. The focus will remain to bring in high-quality standards and experience across the entire gym network and ecosystem,” said Naresh Krishnaswamy, Business Head and Head of Marketing of Cure.fit. YS reported.
Founded in 2013 by Jayam Vora and Neha Motwani, Fitternity (Fitternity Health E-solution Pvt. ltd.) is an online fitness facilities aggregator that creates an ecosystem of gyms, studios, Yoga centers, and Pilates.
With a network of more than 12,000+ partnered gyms and studios in India, Fitternity offers its users’ a personalized way of searching gym and fitness centres in their cities.
Commenting on getting acquired, Neha Motwani, said, “We have always focused on creating innovative solutions to make fitness easy and accessible for Indians – this vision will be further extended with our partnership. While Fitternity will continue to run as it always has, with Cure.fit, we will be able to create a formidable force to grow and drive scale for our partners.”
Mukesh Bansal from Cure.fit said, “The increase in demand and health awareness in the country, we will need to put up quality supply. With Fitternity acquisition, 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.”
Fitternity is funded by several investments firms and angel investors including Sixth Sense Ventures, Startup Equity Partners, Exfinity Venture Partners, Saha Fund, Anjali Bansal (Partner TPG Growth), Akshay Chudasama (Partner Shardul Amarchand Mangaldas), Satish Khanna, Arihant Patni (Managing Director at Nirvana Venture Advisors), among others.
It has partnered with more than 75+ companies and claims to have a user base of 11+ million customers on its platform.
According to Statista, the Fitness industry in India is estimated to grow at a CAGR of 2.7%, resulting in a projected total market value of $2.3 billion by the end of 2024.