Wellness platform Cult.fit has announced that it has acquired Bengaluru-based Tread, a fitness equipment start-up. The financial details of the deal were not disclosed.
The company said in a statement, “Following Cult.fit’s launch of digital at-home fitness last year, the platform has seen a massive uptick in live workout classes on its app. In a move to further enrich the experience, Cult.fit is launching a suite of smart fitness hardware products.”
“Cult.fit’s deeper expansion into the connected fitness hardware market, places the company further on its path to becoming India’s leader in everything related to fitness,” it added.
Speaking on the development, Digital Health Head – Cult.fit, Shamik Sharma said, “We are excited to welcome TREAD and its team to the cult.fit family. Globally, the connected fitness market is on the rise and we are committed to bringing the best innovation to our customers in India. We will soon offer a wide range of home fitness equipment to better serve the demand of at-home workouts.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.