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Tata Digital pumps $75 m into CureFit; co-founder & CEO Mukesh Bansal to continue to lead fitness start-up

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Getting people on board who have sound knowledge of digital businesses will aid the Tatas to grow their digital capabilities.Getting folks on board who’ve sound information of digital companies will assist the Tatas to develop their digital capabilities.

Strengthening its footprint within the e-commerce area to compete with the larger gamers, Tata Digital on Monday stated it has entered into an settlement to take a position as much as $75 million in health start-up CureFit Healthcare.

Tata Digital just lately accomplished its acquisition of e-grocer BigBasket, and is known to be near buying a major stake in on-line pharmacy 1mg. Mukesh Bansal, the founder & CEO of CureFit will be part of Tata Digital as president whereas persevering with his management function at CureFit, Tata Digital stated in a press release.

Associated Information

Tata Digital and CureFit didn’t disclose the specifics of the deal.

Analysts stated the Tata Group, which already has a longtime presence within the conventional providers sector, is trying so as to add new-age well being and wellness providers to its bouquet of choices. The partnership with CureFit will assist construct on that technique. “The Tatas have anyway introduced their ambition to be an excellent app. The funding provides to that functionality,” stated Arpit Mathur, companion at Kearney. Entry to expertise is one other space that the Tatas are with this funding.

Getting folks on board who’ve sound information of digital companies will assist the Tatas to develop their digital capabilities.

CureFit, on its half, will leverage the partnership to achieve entry to new prospects; the Tatas have already got a major proportion of life-style and repair prospects. Moreover, CureFit may additionally wish to concentrate on establishing new enterprise verticals and have a look at including excessive worth providers quickly from the entry degree choices they presently present. “That is extra of a strategic funding than monetary,” Mathur added.

Bengaluru-based CureFit offers a variety of on-line and offline well being and health providers to customers together with exercise classes, session with consultants and private coaching. In addition they provide choose health merchandise.

Tata Digital stated that CureFit will assist the agency develop into pro-active well being administration area. “The CureFit partnership with its trade main platform in health and wellness aligns very properly with our total healthcare proposition the place health is more and more turning into an integral a part of a customers’ life,” N Chandrasekaran, chairman, Tata Sons, stated.

Indian health and wellness market is rising at almost 20% yearly and is anticipated to achieve about $12 billion by 2025.

“Being a part of Tata Digital will allow us to nationally scale up our choices for our prospects,” stated Mukesh Bansal, co-founder & CEO at CureFit.

The Tatas are constructing on an array of on-line providers to tackle Amazon, Walmart-backed Flipkart and Reliance who’re already jostling for an even bigger share of the e-commerce market.

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