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Tata Digital Limited, a 100 percent subsidiary of Tata Sons Private Limited, has entered into a Memorandum of Understanding (MoU) for investing up to $75 million in fitness startup Cure.fit.
With this investment, Cure.fit Founder and CEO Mukesh Bansal will join Tata Digital as President.
“Joining Tata Digital marks an exciting new step for me and my team and is a recognition of the value we have created with CureFit for fitness enthusiasts in India,” Mukesh Bansal said.
This is not the first time the subsidiary has ventured into the consumer tech space.
Last month, Tata Digital acquired a majority stake in online grocery delivery startup Bigbasket. The deal placed Tata in direct competition with major online delivery conglomerates, including Reliance Industries’ Jio Mart, ecommerce giant Amazon Inc, and Walmart-owned Flipkart.
The salt-to-steel conglomerate, Tata Sons, had set up Tata Digital in August 2019 to build digital consumer businesses across verticals, including travel, retail, and financial services.
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In this episode of #HumanBeyondResources, Raghav Chandra, Co-founder and CPTO, Urban Company, discusses the various initiatives that the home services platform has introduced for the well-being of its employees and service partners, including sanctioning loans worth Rs 10 crore for the partners as their income sources dried up.
Raghav also talks about why Urban Company remains aloof about its recent unicorn status, among several other things.
Editor’s Pick: Techie Tuesday
Gaurav Srivastava has come a long way in his entrepreneurial journey over the last 12 years. Starting as the co-founder of a bootstrapped GPS tracker manufacturing startup in 2009, he went on to design a low-code, intelligent delivery management platform with logistics SaaS company FarEye.
Today, Gaurav is the CTO of FarEye, which recently raised $100 million. The company is on track to achieve 100+ million transactions per day by processing petabytes of data, and claims 150+ customers in 30+ countries. Read more.
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This video tech startup hosts virtual events for Reliance, Amazon, Flipkart
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MultiTV built a full-stack vertically integrated video tech platform that could serve a variety of use cases across industries. Read more.
Infographic: YS Deign
News & Updates
Before you go, stay inspired with…
“Fitness in India is still in the initial stages at sub one percent penetration. Over the next 10-20 years, this will increase to 15-20 percent like in the West.”
— Mukesh Bansal, Co-founder and CEO, Cure.fit
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