Fitness and wellness startup Cult.fit, whose parent company is , has agreed to acquire at-home cardio equipment brands — RPM fitness, Fitkit, Onefitplus, and Urban Terrain — in a single transaction.
These brands make smart equipment that connects with smartphones and allows users to track their performance, compete with their friends, or walk and run in a virtual game environment.
The brands were built and scaled by Mohit Mathur and his team at Shoora Retail, who are all joining Cult.fit to further expand the business.
The unicorn is also foraying into outdoor bicycles business with Urban Terrain. The company will also acquire the brand’s bicycle manufacturing capability and service network that extends to over 19,000 pin codes in the country.
This is Cult.fit’s second acquisition after having previously acquired Tread, a Bengaluru-based smart fitness-bike startup.
The company now offers a range of options at all price points, starting from air bikes for Rs 5,000-7,000 to premium Cult bikes for Rs 50,000.
“This acquisition enhances our product portfolio of at-home smart exercise equipment,” said Shamik Sharma, Head of Digital Health, cult.fit. “The fitness hardware market is expanding around the world, and we strive to bring the best innovation to our customers.”
Cult is also expanding the manufacturing capability which will ensure control over the end-to-end supply chain, thus ensuring greater profitability and superior control on margins.
Founded in 2016, Cult is fast evolving into a one-stop-shop for all fitness and sports products. With Cultsport, Tread and Onefitplus portfolio brands, the unicorn now offers a full range of athletic services across sportswear, athleisure, accessories, footwear, at-home, and outdoor fitness equipment.
“With Cult’s captive fitness user base, tech know-how, brand and capital, we should be able to double our business within the next year,” said Mohit Mathur, Founder, Shoora Retail. “Additionally, given Cult’s unmatched ability to build fitness communities, we can also rapidly grow our bicycles portfolio to emerge as India’s premier tech-led community bicycle brand.”
Recently, CureFit raised $150 million in the Series F round, and entered the unicorn club.
