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.
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.