Mumbai, June 7 (Ians) Tata Digital, a subsidiary of Tata Sons, on Monday announced to invest up to $75 million in fitness startup CureFit.
Mukesh Bansal, CureFit Founder and CEO, will join Tata Digital as President, Tata Digital. In addition, he will continue in his leadership role at CureFit, the company said in a statement.
"The CureFit partnership with its industry leading platform in fitness and wellness aligns very well with our overall healthcare proposition where fitness is increasingly becoming an integral part of a consumers' life," said N. Chandrasekaran, Chairman Tata Sons.
Tata Digital set up its operations in August 2019, to build consumer centric digital businesses for deep consumer engagement and their needs across multiple verticals.
On the other hand, CureFit is a leading player in a fitness and wellness market that is growing at 20 per cent per annum and is expected to reach $12 billion by 2025.
Before the today's announcement, CureFit had raised nearly $418 million.
Mukesh Bansal, CureFit Founder and CEO, will join Tata Digital as President, Tata Digital. In addition, he will continue in his leadership role at CureFit, the company said in a statement.
"The CureFit partnership with its industry leading platform in fitness and wellness aligns very well with our overall healthcare proposition where fitness is increasingly becoming an integral part of a consumers' life," said N. Chandrasekaran, Chairman Tata Sons.
Tata Digital set up its operations in August 2019, to build consumer centric digital businesses for deep consumer engagement and their needs across multiple verticals.
On the other hand, CureFit is a leading player in a fitness and wellness market that is growing at 20 per cent per annum and is expected to reach $12 billion by 2025.
Before the today's announcement, CureFit had raised nearly $418 million.
- 6/7/2021
- by Glamsham Bureau
- GlamSham
Bengaluru, May 31 (Ians) Mensa Brands, a startup by former Myntra CEO Ananth Narayanan, on Monday said it has raised nearly $50 million in Series A round led by Accel Partners, Falcon Edge Capital and Norwest Venture Partners.
Over the next three years, Mensa will acquire over 50 brands across categories including home, garden, apparel, personal care and beauty, the company said in a statement.
The funding round also saw participation from angel investors such as Kunal Shah, Mukesh Bansal, Rahul Mehta of Dst Global and Scott Shleifer of Tiger Global.
Additionally, debt financing facilities from Alteria Capital and InnoVen Capital are also secured, said the company.
"Scaling digital brands from India is a large opportunity. Incredibly excited and passionate about partnering with terrific founders and helping scale their brands globally. Having seen this first hand at Myntra and Medlife, we know the effort it takes to scale a brand digitally," said Narayanan.
Over the next three years, Mensa will acquire over 50 brands across categories including home, garden, apparel, personal care and beauty, the company said in a statement.
The funding round also saw participation from angel investors such as Kunal Shah, Mukesh Bansal, Rahul Mehta of Dst Global and Scott Shleifer of Tiger Global.
Additionally, debt financing facilities from Alteria Capital and InnoVen Capital are also secured, said the company.
"Scaling digital brands from India is a large opportunity. Incredibly excited and passionate about partnering with terrific founders and helping scale their brands globally. Having seen this first hand at Myntra and Medlife, we know the effort it takes to scale a brand digitally," said Narayanan.
- 5/31/2021
- by Glamsham Bureau
- GlamSham
New Delhi, Feb 9 (Ians) Homegrown health and wellness platform Cure.fit on Tuesday said it has acquired fitness facilities aggregator Fitternity for an undisclosed sum.
While Fitternity will continue to exist as a separate platform, this move will allow Cure.fit to scale Cult Pass -- the company's recently launched all-access pass to the best gyms and Cult centres in India.
Cult Pass also marked Cure.fit's foray into gym and equipment-based workouts.
This acquisition seeks to further build on that offering with the aim of establishing Cure.fit as a market leader across all fitness formats, the company said.
"Fitness in India is still in initial stages at sub 1 per cent penetration. Over the next 10-20 years, this will increase to 15-20 per cent like in the west. With increasing health awareness, demand is increasing, and we need to put up quality supply," Mukesh Bansal, Co-Founder, Cure.fit, said in a statement.
While Fitternity will continue to exist as a separate platform, this move will allow Cure.fit to scale Cult Pass -- the company's recently launched all-access pass to the best gyms and Cult centres in India.
Cult Pass also marked Cure.fit's foray into gym and equipment-based workouts.
This acquisition seeks to further build on that offering with the aim of establishing Cure.fit as a market leader across all fitness formats, the company said.
"Fitness in India is still in initial stages at sub 1 per cent penetration. Over the next 10-20 years, this will increase to 15-20 per cent like in the west. With increasing health awareness, demand is increasing, and we need to put up quality supply," Mukesh Bansal, Co-Founder, Cure.fit, said in a statement.
- 2/9/2021
- by IANS
- GlamSham
By Mohammed Shafeeq
Hyderabad, Feb 3 (Ians) Skyroot Aerospace's programme to launch India's first-ever privately-designed and developed rocket, Vikram-1, received a boost with the Department of Space entering into a non-disclosure agreement (Nda) with the Hyderabad-based company building small satellite launch vehicles.
The Nda signed on Tuesday will enable the company, run by former Isro scientists, to access the facilities and technical expertise available in Isro centres to proceed with its launch vehicle development programme.
Indian Space Research Organisation's Scientific Secretary R. Umamaheswaran signed the agreement on behalf of Department of Space and Skyroot Aerospace CEO Pawan Kumar Chandana signed the agreement from the company's side.
Skyroot representatives also met Isro chief Dr K. Sivan, who assured all support to Skyroot for testing and qualifying their launch vehicle.
Chandana told Ians that the Nda marks the formal beginning of their working with Isro.
"From this point onwards, we will exchange data...
Hyderabad, Feb 3 (Ians) Skyroot Aerospace's programme to launch India's first-ever privately-designed and developed rocket, Vikram-1, received a boost with the Department of Space entering into a non-disclosure agreement (Nda) with the Hyderabad-based company building small satellite launch vehicles.
The Nda signed on Tuesday will enable the company, run by former Isro scientists, to access the facilities and technical expertise available in Isro centres to proceed with its launch vehicle development programme.
Indian Space Research Organisation's Scientific Secretary R. Umamaheswaran signed the agreement on behalf of Department of Space and Skyroot Aerospace CEO Pawan Kumar Chandana signed the agreement from the company's side.
Skyroot representatives also met Isro chief Dr K. Sivan, who assured all support to Skyroot for testing and qualifying their launch vehicle.
Chandana told Ians that the Nda marks the formal beginning of their working with Isro.
"From this point onwards, we will exchange data...
- 2/3/2021
- by IANS
- GlamSham
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