SUMMARY

CureFit raised the funding from current investor First Luxembourg SCA at a flat valuation of $1.6 Bn

CureFit CEO Naresh Krishnaswamy stated that the startup is on monitor to attain EBITDA profitability by the top of March 2026

CureFit, which is eyeing a public itemizing in 2026, noticed its income develop over 30% in FY25 and loss decline by over 50%

IPO-bound health unicorn CureFit has raised about $2 Mn (INR 16.8 Cr) from current investor First Luxembourg SCA at a flat valuation of $1.6 Bn. The homegrown model was pegged on the identical valuation 4 years in the past as effectively.

First Luxembourg SCA is a step-down subsidiary of German health big LifeFit Group. 

As per CureFit’s MCA filings, it issued a complete of three.4 Lakh CCPS to Health First Luxembourg SCA at INR 483.62 apiece to boost the quantity. 

CureFit CEO Naresh Krishnaswamy confirmed the funding with Inc42, saying the startup issued the desire shares after a request from the investor. “Whereas we should not have a necessity for elevating funds for any of our company functions, it was an inbound request from an current investor, which we took ahead,” he stated in an emailed response.

Based in 2016 by Mukesh Bansal and Ankit Nagori, CureFit is a well being and health startup headquartered in Bengaluru. It runs bodily health platform Cultfit, psychological well being platform Mindfit, main care vertical Care.match, amongst others.

Its service choices primarily embody health club chains operated by way of three fashions – self-owned gyms, franchised gyms, and {the marketplace} mannequin. 

Cofounder Nagori moved on from CureFit to launch his new enterprise, cloud kitchen startup Curefoods in 2020.

It operates greater than 700 gyms below the Cult.match umbrella, with a presence in additional than 40 cities. It has raised a complete funding of $660 Mn to this point and counts the likes of Zomato, Tata Digital, Temasek, Accel, Kalaari Capital, Chiratae Ventures, South Park Commons, Binny Bansal, and Hrithik Roshan amongst its traders.

It final raised INR 84.5 Cr in a Collection F funding spherical led by current backer Valecha Investments final 12 months. 

CureFit Eyes Profitability By FY26

Krishnaswamy stated that the startup is on monitor to attain EBITDA profitability by the top of the fiscal 12 months 2025-26 (FY26). He added that its health providers vertical is predicted to be EBITDA constructive beginning Q2 FY26.

“… We now have seen double-digit EBITDA momentum for the final 2 years, shifting us nearer to profitability and we anticipate this development to proceed,” the CEO stated. “The important thing levers for us within the journey to sustainable profitability are the wholesome price of latest centre enlargement, increased SSSG (identical retailer gross sales progress) over SSCG (identical retailer value progress) and a big profit from working leverage on our mounted prices.” 

The CEO added that the highest six cities – Bengaluru, Hyderabad, Delhi NCR, Mumbai, Pune, and Chennai – account for 90% of the startup’s income.

Whereas CureFit is but to file its FY25 audited numbers, Krishnaswamy stated that its income grew over 30% in FY25 and EBITDA loss and internet loss declined by over 50%.

In FY24, CureFit’s reported a 42% enhance in its internet loss to INR 888.5 Cr from INR 625.5 Cr within the earlier fiscal 12 months as a result of a rise in money burn. Working income grew 33.6% to INR 926.6 Cr throughout the 12 months from INR 693.7 Cr in FY23. 

Krishnaswamy additionally stated that the startup is seeking to listing on the Indian exchanges subsequent 12 months. “Our DRHP submitting course of, enroute to the IPO, is shifting as per plan. Our itemizing is deliberate for 2026,” he stated.

Earlier, studies stated that CureFit appointed Goldman Sachs, Morgan Stanley, Jefferies, Axis Capital, and JM Monetary as bankers to helm its INR 2,500 Cr IPO. Nevertheless, sources informed Inc42 that the corporate is but to finalise the bankers or the dimensions of the general public concern.

Nonetheless, CureFit is amongst a rising listing of Indian startups eyeing an IPO. Three new-age tech firms – Ather Power, ArisInfra Options and Smartworks – have listed on the exchanges to this point this 12 months. 

In addition to, 18 different startups have filed their draft IPO papers, together with the likes of City Firm, BlueStone and WeWork India.