CureFit, a healthcare and fitness start-up founded by former Flipkart executives Mukesh Bansal and Ankit Nagori, has raised as much $15 million in Series A round.
The new funding comes from Kalaari Capital, Accel Partners and IDG Ventures. This round has been termed as one of the largest early rounds of funding ever by an Indian start-up.
It is noteworthy that CureFit has not yet launched its product. It will launch an app in the first half of next year that will offer preventive healthcare services.
It will be a combination of engagement, coaching and delivery through a mix of online and offline channels addressing curative healthcare.
CureFit is also planning to tie up with offline health and fitness service providers such as gymnasiums. It has hired 10 employees to work on product, technology and other functions.
Mukesh Bansal, co-founder of the company, 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.
Both, Bansal and Nagori resigned from their executive-level job at Flipkart in February. Mukesh is a founder of online fashion portal Myntra, which was acquired by Flipkart. Notably, all of the three investors, Kalaari, Accel and IDG, had also backed Myntra.
Commenting on the new round of funding, Subrata Mitra, Partner, Accel Partners said,
We believe that pro-active health management is a large space, and requires the right mix of online & offline expertise to master, which we believe this team can effectively put together.