Cure.Fit Makes Second Acquisition In 2021, Acquires ‘Fitternity’
Cure.fit, a fitness startup, has announced the acquisition of Bengaluru-based fitness aggregator platform, Fitternity.
The value of the deal was not disclosed, but post this acquisition, Fitternity will continue to operate independently.
With a collective user base of three million users, Cure.fit and Fitternity will together empower more than 5000 fitness centres spread across the top 20 cities in India, stated Cure.fit.
In January 2021, Cure.fit acquired a California-based digital fitness company Onyx, making it the second acquisition by Cure.fit in 2021.
Speaking on the acquisition, Mukesh Bansal, Co-Founder of Cure.fit, said,
“Fitness in India is still in initial stages at sub 1% penetration. Over the next 10-20 years, this will increase to 15-20% like in the West. With increasing health awareness, demand is increasing, and we need to put up quality supply. With Fitternity on board, Cure.fit will improve existing offline gyms, bring them up to speed with better technology, and focus on empowering them to adjust to the post-Covid scenario amid changing consumer expectations.”
Cure.fit is also planning to help offline gyms with operating procedures and aid them in increasing their visibility for better utilisation through the acquisition.
The company also added that the acquisition would help Cure.fit to scale its ‘Cult Pass’. Mukesh Bansal and Ankit Nagori’s startup added that the combined infrastructure of Fitternity would result in almost doubling of revenues from the Cult Pass offering.