Bangalore-based Curefit that is into 360° healthcare offering, including fitness and food is now opening its doors to other startups that have the right ideas but lack the funding and support to succeed. According to an Economic Times report, 10 such startups will be picked and a sum of $5 million has been kept aside by Curefit for this purpose. The basic requirements are that they must gel with the Eat.fit brand that the company has developed for promoting healthy eating habits among the public. The product segments identified are snacks, beverages, spa food, supplements and meal replacement categories.
Besides funding the startups, Curefit will also extend other benefits like marketing support, R&D and even consumer insights that it has itself gathered over the years. These may be useful to the startups in their own product positioning and strategizing for the market.
Curefit has its own plans lined up to expand both geographically and open up distribution networks and so on. The company says about 10-15% of the 35,000 orders it receives a day are in the packaged foods and juices range.
The company has three distinct business segments: An apparel line, health clinics and food brands. Now the company wants to take these overseas as part of its business expansion. Within the country, the idea it to enhance the focus on the top 10 Indian cities and multiply the efforts.
Accel Partners, Kalaari Capital, Chiratae Ventures, Ratan Tata and Kris Gopalakrishnan are all the marquee investors in Curefit and the company has managed to raise $170 million so far.
The four businesses/brands the company operates/owns are Curefit, the parent brand, that operates fitness centres, the Eatfit brand that is into delivery of foods that are for the health-conscious, Carefit under which healthcare clinics are run and Mindfit that is described as a ‘mental wellness platform’.