Health and fitness platform Cult.fit has raised Rs 84.5 crore (around $10.2 million) in a funding round led by existing investor Valecha Investments, which contributed over Rs 36 crore, according to ETtech report.
Other participants in the round include Gul Advani of Sun-n-Sand Hotels, who has infused Rs 28.26 crore, Extreme Brands LLP, L&K Wellness Services, and a clutch of other individual investors, according to documents sourced from the Registrar of Companies (RoC).
This funding round follows the Bengaluru-based fitness startup’s cost-cutting exercise in January 2024 that saw around 100 employees being laid off. Cult.fit is backed by the likes of Tata Digital and Zomato.
Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cult.fit offers fitness services both online and offline. Its offerings include group workouts at Cult.fit centres, gym- and equipment-based workouts at partner facilities, and online training.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.