Mukesh Bansal, a 40-year-old is all set to rule the world of health and fitness with CureFit.
Earlier, Bansal’s venture, Myntra, was acquired by Flipkart in 2014 and he went on to become the Head of Commerce at Flipkart. But he left Flipkart again in the year 2016.
Mukesh is a die-hard fitness enthusiast; he starts his day early and works out five to six times in a week.
His venture CureFit was launched in April 2017 by himself, who also was the head of commerce at Flipkart, and ex-Flipkart Chief Business Officer Ankit.
CureFit grabbed headlines well before its launch. Mukesh looks at the CureFit journey totally in a different manner as he is well aware about all the business strategies. Mukesh agrees that funding and hiring is easier this time round.
Mukesh says, “Today, it feels like a familiar zone; I feel comfortable. For people who are just starting out, raising $3 to $4 million takes at least a year.”
In July 2016, CureFit raised one of the highest first rounds of funding in the Indian startup ecosystem with $15 million from Accel Venture Partners, IDG Ventures and Kalaari Capital - even before there was a definitive platform in place.
But Bansal says that it’s different this time and states, “It’s about forgetting past learnings and starting with a clean slate. Sometimes past learnings can be a handicap or blind spot.”
Vani Kola, Managing Director, Kalaari Capital, describes her experience of working with Mukesh and states, “I think Mukesh is a very mature and evolved person. It comes across in everything he does. The way he works with his investors and employees is testimony to that. He sets the bar high.”
Making acquisitions along the way:
In 2016, CureFit invested $3 million and got a majority stake in Bengaluru-based fitness startup Cult.
Mukesh states, “I had liked the unique no-machine workout model that Cult was working in and it was something I wanted to scale across. When we acquired Cult, it had one centre. Over this year, we have opened close to 15 Cult centres in Bengaluru.”
Healthcare, Mukesh and Ankit realised, was big and affected every single individual.
The co-founders gave thought to the different health services one could receive on mobile phones, and planned CureFit as an amalgam of mental wellness, physical fitness and a balanced diet.
Mukesh Bansal’s venture CureFit is truly an inspiration to many!