Home / Enterprise / CureFit raised funding of $15 million from IDG Ventures

CureFit raised funding of $15 million from IDG Ventures

CureFit a Bangalore based heathcare and fitness startup raised funding of $15 million from IDG Ventures, Accel Partners and Kalaari Capital.

All the 3 investors Accel Partners, Kalaari Capital and IDG Ventures has also backed Mukesh Bansal for Myntra which was bought by Flipkart in May 2014 with more than $330 million deal.

It was founded by Mukesh Bansal and Ankit Nagori, former Myntra and Flipkart executives. It will allow the users to manage their health with the services provided by CureFit. It will start its operations in 2017, it plans to hire employees passionate about psychology & science, imaginations & problems, maths & DNA to work on their technology, product and various functions, they will also tie up with fitness centres.

Mukesh Bansal co-founder of CureFit said

“We aim to build out an innovative product which will help the consumers manage their health proactively with heavy use of technology and data. We will offer solutions to all people who want to live healthily and avoid lifestyle diseases. So, we will first focus on preventive healthcare and then expand to other areas. We’re looking at this market as a 8-10 year play.”

With a mix of both offline and online channels it aims to be innovative with a combination of coaching, engagement and delivery. With this users can enjoy a safe life, better quality of life by reducing the possibility of getting sick.

Subrata Mitra, Partner, Accel Partners believes that

“proactive health management is a large space, and requires the right mix of online and offline expertise to master. It’s a complex problem, and therefore needs the right entrepreneur to address. This is where the combined strength of Mukesh and Ankit would be invaluable, we thought. Mukesh is an outstanding entrepreneur and CEO. Adding Ankit provided the right balance of strategy and execution to the team.”

Healthcare sector is one of the largest growing sectors India and is expected to reach about $280 billion market by 2020. Other healthcare startups Portea and Practo are among the big players in this segment estimated that around 4 billion transactions occur in healthcare sectors across India.

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