Tata Digital names Mukesh Bansal President, to invest $75 mn in his CureFit

Bansal retains leadership role at CureFit

Tata Digital, a wholly-owned subsidiary of Tata Sons, has entered a Memorandum of Understanding for investing of up to $75 million in CureFit Healthcare, subject to completion of diligence process and other approvals.

CureFit Founder & CEO Mukesh Bansal will join Tata Digital in an executive role as President, Tata Digital Limited. In addition, Bansal will continue in his leadership role at CureFit.

CureFit is India’s leading fitness player that has developed a strong ecosystem around fitness and wellness. Indian fitness and wellness market is growing at about 20 per cent a year and is expected to reach $12 billion by 2025. CureFit is uniquely positioned to capture a large share leveraging its comprehensive solution and differentiated tech platform. Curefit, with its range of fitness & wellness offerings, will help Tata Digital expand into pro-active health management space.

N Chandrasekaran, Chairman Tata Sons said: “The CureFit partnership with its industry leading platform in fitness and wellness aligns very well with our overall healthcare proposition, where fitness is increasingly becoming an integral part of a consumers’ life.”

Bansal, Co-founder & CEO of CureFit, said: “Being part of Tata Digital will enable us to nationally scale up our offerings for our customers. Tata Digital has highly inspiring vision to create next generation consumer platform and I am very excited to be part of Tata Digital team that is  shaping this vision”