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Health and wellness platform Cult.fit, known previously as Cure.fit, has successfully secured Rs 440 crore (approximately $47 million) in a recent funding round from Temasek via its investment branch MacRitchie. This funding is anticipated to be the last private round before the company plans to undertake a public listing shortly. Based in Bengaluru, the firm has raised capital after a hiatus of two years, with the last fundraising effort being $10.2 million in an extended Series F round led by Valecha Investments in February 2024, which was exclusively reported by Startup Superb.
The board of Cult.fit has issued 90,98,052 Series G CCPS at a share price of Rs 483.62 each to Temasek to generate the stated amount, as noted in a filing with the Registrar of Companies (RoC). Based on analysis from Startup Superb, the valuation of the Tata-Digital-backed company has remained steady at Rs 13,668 crore, or approximately $1.45 billion post-money.
Established in 2016, Cult.fit operates on a hybrid fitness model that integrates digital solutions through its app with physical fitness centres across 300 cities in India. The platform offers subscription-based fitness plans—referred to as Cultpass—that provide access to gyms, group classes, and virtual training sessions. The company is reportedly seeking to raise $50 million in this funding round.
Overall, Cult.fit has accumulated over $720 million to date from notable investors such as Zomato, Tata Digital, Temasek, Kalaari Capital, and South Park Commons, among others. Following the allocation from this round, Temasek will possess an 11.88% stake in the company.
The fitness unicorn has engaged bankers for its forthcoming IPO, including Axis Capital, Jefferies, Goldman Sachs, Morgan Stanley, and JM Financial. The company aims to raise Rs 2,500 crore (nearly $300 million) through the IPO, which would potentially value it at around $2 billion.
For the fiscal year concluded in March 2025, Cult.fit reported a 31% increase in operating revenue on a year-on-year basis, reaching Rs 1,216 crore compared to Rs 927 crore in the previous fiscal year (FY24), while losses reduced by 10% to Rs 480.8 crore. Following its fundraising in 2024, Cult.fit also advanced co-founder Naresh Krishnaswamy to the position of chief executive officer, filling the role previously held by co-founder and long-term CEO Mukesh Bansal, who has now transitioned to serve as executive chairman.
