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Tag: curefit (page 1 of 1)

Tata Digital makes the second major transaction as it buys majority stake in 1mg

Tata digital announced that it will be buying a majority stake in e-pharma startup 1mg, as it intends to build its super app. The Tata group-owned company, recently, has bought BigBasket and made an investment in Curefit. The financial details of the deal were not disclosed. The buying of a stake in 1mg will increase Tata digital’s reach as the e-pharma startup has a supply chain of over 20,000 pin codes and works with three advanced labs.

Tata Digital invests $75 mn in Curefit, Mukesh Bansal joins as president

Tata Digital, a Tata Group subsidiary, will invest $75 mn in Curefit. The fitness startup co-founder Mukesh Bansal will be appointed as a President, Tata Digital and will lead the company he started. Curefit is the third major startup investment by the Tata group, having an interest in salt-to-software, as it builds its digital portfolio. Curefit was last valued at around $800 mn, before the beginning of the pandemic last year, when Singapore’s Temasek had picked up a stake in it.

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Tata group pursuing a deal to acquire Curefit

After getting major stakes in Bigbasket and 1mg, Tata group is looking to buy Curefit. There are plans to bring Curefit founder Mukesh Bansal on the board. Nothing is yet confirmed and plans may change. Curefit has been valued at $800 mn and has been badly affected by the pandemic as it shut down its cloud kitchens, fired 10% of its employees and the rest had to take pay cuts. In July 2020 more than 500 employees were sent on temporary leave.

How Curefit uses AI to offer personalised experience

In workout, meal recommendations, AI churns massive amounts of data, understands past behavioural patterns, computes preferences, creates custom plans inferring health goals. Energy Meter – a camera-enabled feature tracks energy expenditure in live classes; generates a fitness report at the end. ML-backed microservice arch. comprises of 100+ self-improving microservices working on specific tasks. Proprietary cloud handles massive data, traffic etc.

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