Tata Group is reportedly in talks to acquire health and fitness startup Curefit, according to media sources.
Founded by Mukesh Bansal and ex-Flipkart executive Ankit Nagori in July 2016, Curefit has so far raised USD418 million, with its last valuation pegged in the region of USD800 million.
The company, which recently renamed itself as Cult.fit, has 200+ ‘cult centres’ in 20+ cities across India.
If the deal goes through, the acquisition will mark the next major step in Tata Group’s push for leadership in the e-commerce space. In April, Tata Digital was given the go-ahead to pick up a 64% stake in leading online grocery retailer BigBasket, and earlier in May, it was reported that the company was in advanced negotiations to buy a 65% stake in online pharmacy 1mg.
Tata Group increased the authorised share capital of Tata Digital to Rs 11,000 crore from Rs 1,000 crore earlier in May, as per regulatory filings.