Mukesh Bansal, Ankit Nagori start-up raise $15 mn from Accel, IDG and Kalaari

CureFit will be launched in 2017 and enable users to manage their health proactively through a gamut of service offerings

Accel Partners, IDG Ventures and Kalaari Capital have jointly invested $15 million (around Rs 100 crore) in CureFit, a health and fitness start-up of Myntra founder Mukesh Bansal and Ankit Nagori, a key executive at Flipkart.

To be launched in 2017, CureFit will be a platform which will enable the users to manage their health proactively through a gamut of service offerings, Curefit said in a statement. The firm is looking at offline delivery of services for preventive health care.

"Healthcare is one of the largest growing segments in India and will be $280 billion by 2020. We aim to build out an innovative product which will help the consumers manage their health proactively with heavy use of technology and data. We are building the best technology team in the country to drive disruption in this space," said Mukesh Bansal in the statement.

The technology driven healthcare space has attracted several firms such as Healthifyme and Gooqii offer a customised online training and fitness regime suited to local needs. In the physical gym space, Chisel, a Bengaluru-gym with Virat Kohli as an investor is expanding nationally.

"Currently there are multiple service offerings available in the market in a fragmented manner, but none of them lets users manage their health needs end to end. CureFit is end to end solution that will enable users to take full control of their health to improve the quality of life and reduce long term healthcare costs," Co-founder Ankit Nagori said.

The investors said they have worked with both Nagori and Bansal in their previous firms. Bansal was the chief operating officer of Flipkart after it acquired Myntra for Rs 2,000 crore in 2014. He quit the firm early this year with Nagori, who was the chief business officer of Flipkart to start-up on their own.

"We believe that proactive health management is a large space, and requires the right mix of online & offline expertise to master, which we believe this team can effectively put together. It's a complex problem, and therefore needs the right entrepreneur to address," said Subrata Mitra, Partner, Accel Partners.

Kalaari Capital Managing director Vani Kola said that the health and fitness are segments that have potential to be disrupted by technology in the next decade. Sudhir Sethi, managing director, IDG ventures said the firm was backing the two partners.