Tata Digital-backed Cult.fit acquires Gold's gym India business

Fitness startup Cult.fit, which recently raised funds from Tata Digital, today announced it has acquired majority stakes in F2 Fun & Fitness India Pvt Ltd, thereby becoming the master franchise partner for Gold’s Gym in India. 

Cult.fit is a part of Cure.fit, a healthcare startup that counts Accel, Chiratae, Kalaari Capital, Temasek Holdings, as its prominent investors.

With this acquisition, Cult.fit will focus on investing in increasing revenues from existing Gold’s Gym centers and facilitating center expansion via franchisees in the coming years. The fitness startup will also be focusing on scaling the Gold's Gym brand presence across key geographies such as Sri Lanka, Bangladesh, Maldives, Nepal, and Bhutan.

In addition, the investment will help augment cult’s single access pass – cultpass – further making access to premium fitness services easier and affordable, it said.

At present, Gold Gym is operating through 140 centers in more than 90 cities with multiple long-term franchise partnerships across metros, tier II, III, and IV markets.

Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cult.fit provides fitness-related services through a mix of online and offline channels. These include offline group workouts at Cult.fit centres and other gym- or equipment-based workouts at partner gyms and fitness centres across the country as well as online training.

"Gold’s Gym’s significant experience and sizeable footprint via multiple franchise partnerships paired with our deep-tech expertise and process innovation creates a winning formula for our customers and potential franchise partners. Together, we aim to build immense value into the fitness ecosystem generating top-notch tech advancement, great business opportunities, and better returns for our partners in the long run,” Naresh Krishnaswamy, Growth and Marketing Head, Cult.fit, said.

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