According to reliable sources, fitness-based startup Cure.fit has acquired Bangalore-headquartered fitness facility aggregator platform, Fitternity, for establishing a greater number of offline fitness centers in India.
The recent acquisition comes after the acquisition of American digital fitness company, Onyx, by Cure.fit for enhancing its digital services as well as the penetration of its e-commerce offerings in the U.S market.
For the record, Cure.fit is a health and fitness startup organization founded by Mukesh Bansal and Ankit Nagori in July 2016. The company focuses on offering digital and offline services across the realms of nutrition and fitness as well as mental well-being.
Co-founder and COO of Fitternity, Jayam Vora, on the acquisition, reportedly said that this alliance is a significant milestone in the evolution of the company’s user proposition. The move will bolster the growth of Cure.fit beyond just financial recovery and will assist them in taking the fitness retail business to new heights in India, he added.
Co-founder of Cure.fit, Mukesh Bansal, said that the organization, together with Fitternity’s widespread consumer base, will work towards improving existing offline gyms by implementing advanced technology to adjust to the aftermath of the COVID-19 pandemic.
Following the acquisition, the expanded consumer base is expected to realize a 50% to 100% increase, as cited by credible sources. In this context, the two companies will collectively work towards providing personalized fitness plans to their combined clientele while offering health guidance on the Cure.fit app.
If reports are to be believed, Fitternity will continue to operate independently after the acquisition and will assist Cure.fit in the scaling of Cult Pass, its all-access permit for online gyms and fitness centers in India. Moreover, the collaboration will form a collective customer base of 3 million users and will empower more than 5000 fitness centers in the top 20 cities across the country.
However, additional financial details of the deal remain undisclosed.
Source credits –
https://yourstory.com/2021/02/curefit-acquires-fitternity-mukesh-bansal-fitness-network