It would be easy to miss the Cult.fit gym in Delhi’s Lajpat Nagar if one wasn’t explicitly looking for it, situated as it is on the second floor of a largely unoccupied building just off a busy main road. Inside, a large open area plays host to group workout sessions, with kettlebells and other weights stacked neatly on shelves. At the far end, gym-goers are working up a sweat, hammering away at a row of punching bags.

The object of our attention today, however, is a small kiosk just by the entrance. Its glass counters contain a range of healthy drinks and energy bars. These can be purchased on the spot, or through the Cure.fit app—a digital platform that ties together the various verticals of Cult’s parent organisation Curefit Healthcare. These verticals span across the gamut of wellness—there’s the gym chain (Cult.fit), food (Eat.fit), mental fitness (Mind.fit), and primary healthcare (Care.fit). To be sure, Curefit sees itself as a hydra of holistic health.

Since its inception in 2016, Curefit’s gym chain has primarily been the anchor of its business. Today, it has some 250 gyms spread across the country, drawing 100,000 users each day. Over 90% of its app users were on account of Cult.fit. Increasingly, however, its food business is starting to rival gyms in terms of importance. The kiosk at Lajpat Nagar stands testament to this. After each session—the centre runs two to three different classes every hour between 6AM and 10PM—tired athletes mill around the kiosk, hydrating or snacking.

That’s just within Curefit’s gyms.

The company also runs a network of cloud kitchens coupled with food delivery operations across the country. At present, its Eat.fit vertical operates 80 such cloud kitchens across 15 cities, all pumping out a range of healthy, yet homely food. Think vegetarian thalis (Eat.fit’s best-seller), tofu wraps, chicken curry and rotis—except without unhealthy ingredients like butter or refined flour. Every meal is also tagged with a calorie count, underscoring Eat.fit’s health-first ethos. Then there’s the smattering of quick-service restaurants (QSRs)—all in Curefit’s hometown of Bengaluru—that allows for a dine-in experience.

Through this multi-pronged approach, Eat.fit has grown by leaps and bounds over the past year. Despite Cult accounting for 90% of its app users, it only contributed to 60% of Curefit’s revenue in 2019. Eat.fit, on the other hand, saw its revenue contribution double—from 15% to 30%. And it isn’t plateauing anytime soon. This year, Curefit intends to double its order volumes. Several Curefit senior executives told The Ken that Eat.fit is growing faster than all the company’s other verticals, and will soon surpass gyms as the largest contributor to its revenue.

This success has allegedly helped Curefit close a fresh funding round from Singapore’s state investment fund Temasek in February, according to a highly placed source with knowledge of the deal. While it hasn’t been publicly announced, it reportedly gives Curefit an $800 million post-money valuation. Mukesh Bansal, Curefit’s co-founder, neither confirmed nor denied the deal.

AUTHOR

Ruhi Kandhari

Ruhi writes on the impact of healthcare policies, trends in the healthcare sector and developments on the implementation of Electronic Health Records in India. She has an M. Sc. in Development Studies from the London School of Economics.

View Full Profile

Available exclusively to subscribers of The Ken India

This story is a part of The Ken India edition. Subscribe. Questions?

MOST POPULAR

Annual Subscription

12-month access to 200+ stories, archive of 800+ stories from our India edition. Plus our premium newsletters, Beyond The First Order and The Nutgraf worth Rs. 99/month or $2/month each for free.

Rs. 2,750

Subscribe
 

Quarterly Subscription

3-month access to 60+ new stories with 3-months worth of archives from our India edition. Plus our premium newsletters, Beyond The First Order and The Nutgraf worth Rs. 99/month or $2/month each for free.

Rs. 1,750

Subscribe
 

Single Story

Instant access to this story for a year along with comment privileges.

Rs. 500

Subscribe
MOST POPULAR

Annual Subscription

12-month access to 150+ stories from Southeast Asia.

$ 120

Subscribe
 

Quarterly Subscription

3-month access to 35+ stories from Southeast Asia.

$ 50

Subscribe
 

Single Story

Instant access to this story for a year along with comment privileges.

$ 20

Subscribe

Questions?

What is The Ken?

The Ken is a subscription-only business journalism website and app that provides coverage across two editions - India and Southeast Asia.

What kind of stories do you write?

We publish sharp, original and reported stories on technology, business and healthcare. Our stories are forward-looking, analytical and directional — supported by data, visualisations and infographics.

We use language and narrative that is accessible to even lay readers. And we optimise for quality over quantity, every single time.

What do I get if I subscribe?

For subscribers of the India edition, we publish a new story every weekday, a premium daily newsletter, Beyond The First Order and a weekly newsletter - The Nutgraf.

For subscribers of the Southeast Asia edition, we publish a new story three days a week and a weekly newsletter, Strait Up.

The annual subscription will get you complete, exclusive access to our archive of previously published stories for your edition, along with access to our subscriber-only mobile apps, our premium comment sections, our newsletter archives and several other gifts and benefits.

Do I need to pay separately for your premium newsletters?

Nope. Paid, premium subscribers of The Ken get our newsletters delivered for free.

Does a subscription to the India edition grant me access to Southeast Asia stories? Or vice-versa?

Afraid not. Each edition is separate with its own subscription plan. The India edition publishes stories focused on India. The Southeast Asia edition is focused on Southeast Asia. We may occasionally cross-publish stories from one edition to the other.

Do you offer an all-access joint subscription for both editions?

Not yet. If you’d like to access both editions, you’ll have to purchase two subscriptions separately - one for India and the other for Southeast Asia.

Do you offer any discounts?

No. We have a zero discounts policy.

Is there a free trial I can opt for?

We don’t offer any trials, but you can sign up for a free account which will give you access to the weekly free story, our archive of free stories and summaries of the paid stories. You can stay on the free account as long as you’d like.

Do you offer refunds?

We allow you to sample our journalism for free before signing up, and after you do, we stand by its quality. But we do not offer refunds.

I am facing some trouble purchasing a subscription. What can I do?

Please write to us at [email protected] detailing the error or queries.