The fresh capital is expected to support Cultfit’s expansion plans, strengthen its product offerings and scale its presence across key markets
Marking its first major fundraise in nearly two years, fitness and wellness platform Cultfit has raised USD 47 million (around Rs 440 crore) in fresh funding from Singapore-based investment firm Temasek, as per media reports.
The reports noted that the Bengaluru-based company, founded by Mukesh Bansal and Ankit Nagori, has now raised more than USD 650 million in total funding since its inception. The latest investment highlights continued investor interest in the fitness and wellness segment as companies focus on expanding digital and offline offerings.
The fresh capital is expected to support Cultfit’s expansion plans, strengthen its product offerings and scale its presence across key markets. The company operates a range of fitness services including gyms, group workout sessions, digital fitness content and sportswear under its Cultsport brand.
According to media reports, Cultfit has been focusing on improving profitability while expanding its network of fitness centres and digital platforms. The company has also been working on strengthening its technology-led fitness ecosystem and enhancing member experiences.
Cultfit, which operates both online and offline fitness services, is among the leading fitness platforms in India and continues to grow its presence in the country’s rapidly evolving health and wellness market.
