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- Cult.fit
Cult.fit Revenue, Valuation, Funding & Investors
Cult.fit is valued at $1.5B as of March 2026.
Last Cult.fit valuation
$1.5B
Series G · Mar 2026
Last Cult.fit funding round
$48M
Series G · Mar 2026
Cult.fit revenue
$74M
Series F · Feb 2024
Key investors in Cult.fit
Accel
Chiratae Ventures
Kalaari Capital
Temasek
Endiya Partners
Oaktree Capital Management
About Cult.fit
Cult.fit is a Bangalore-headquartered health and fitness company founded in 2016. It operates over 280 gyms across 50 Indian cities, delivering trainer-led classes in yoga, dance, strength training, and cycling. The platform provides nutrition plans via EatFit cloud kitchens, mental wellness through Cult.Mind, and primary care consultations, serving 2 million monthly active users.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Services, Subscription
Revenue
$74M (Feb 2024)
Valuation
$1.5B (Mar 2026)
Cult.fit Valuation
Cult.fit is currently valued at $1.5B, based on its Series G in March 2026.
The $48M round was led by MacRitchie Investments.
Cult.fit's valuation has grown 2.6x from $575M at its Series D in June 2019 to $1.5B in March 2026, across 6 priced rounds.
Cult.fit valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Mar 2026 | Series G | $1.5B | - |
| Jul 2025 | Strategic investment | $1.6B | - |
| Feb 2024 | Series F | $1.5B | 20.2x |
| Nov 2021 | Series F | $1.2B | - |
| Mar 2020 | Series D | $815M | - |
| Jun 2019 | Series D | $575M | 4.4x |
Cult.fit Revenue
Cult.fit's latest recorded revenue is $74M, as of its Series F in February 2024. At a $1.5B valuation, that implies a 20.2x revenue multiple.
Revenue moved from $130M in June 2019 to $74M in February 2024, while the revenue multiple moved from 4.4x to 20.2x.
Cult.fit revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Feb 2024 | $74M | $1.5B | 20.2x | Series F |
| Jun 2019 | $130M | $575M | 4.4x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Cult.fit Funding History
Cult.fit has raised a total of $675M across 13 funding rounds.
Cult.fit's first fundraising round was a $15M Series A in July 2016. The most recent completed round was a $48M Series G in March 2026.
Cult.fit funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2026 | Series G | MacRitchie Investments (lead) | $48M | $1.5B | - |
| Jul 2025 | Strategic investment | LifeFit Group (lead) | $2M | $1.6B | - |
| Feb 2024 | Series F | Valecha Investments (lead); Exceed Entertainment; L&K WELLNESS SERVICES; Nikhil Kakkar; Gul Advani; Reset India; Prashant Machwe; Sangeeta Mansharmani; Surendra Kedia; Shraddha Sheth | $10M | $1.5B | Cult.fit is a Bengaluru-based health and fitness platform offering gym access, group classes, live workouts, sports activities, coaching, and wellness resources. Formerly Cure.fit, it operates both digital and offline services with a shift toward more physical centers. The company achieved unicorn status in 2021 at INR 12,400 crore post-money valuation after a $100 million deal and has raised over $650-670 million total from investors including Accel, Temasek, Chiratae, Kalaari, Tata Digital, and Zomato. On February 26, 2024, Cult.fit raised $10.2 million (Rs 84.5 crore) in a Series F top-up round led by Valecha Investments, which contributed over Rs 36 crore. Participants included Gul Advani (Rs 28.26 crore), Extreme Brands LLP (noted as Exceed Entertainment in some contexts), L&K Wellness Services, Reset India, Nikhil Kakkar, Prashant Machwe, Sangeeta Mansharmani, Shraddha Sheth, Surendra Kedia, and Valecha Investments. The post-money valuation remained at INR 12,400 crore. Funds support extended growth, operational needs, and a pivot to offline expansion amid plans for profitability and potential IPO within 12 months. Ahead of the round, Cult.fit underwent cost-cutting in January 2024, laying off 100-150 employees and reducing monthly cash burn from Rs 15 crore toward Rs 10 crore. FY23 operating revenue tripled to Rs 694 crore from Rs 216 crore in FY22, with losses narrowing to Rs 551 crore from Rs 688 crore. |
| Nov 2021 | Series F | Zomato (lead); Temasek; Mukesh Bansal; Apurva Doshi; Paras Sanghvi; Accel; South Park Commons | $145M | $1.2B | - |
| Jun 2021 | Series E | Tata Digital (lead) | $75M | - | Cult.fit, operating under CureFit Healthcare Pvt Ltd and founded in 2016 by Mukesh Bansal and Ankit Nagori, is an Indian fitness and wellness company offering offline fitness centers via Cult.fit, online classes, mental wellness programs through Mind.fit, healthy meals with Eat.fit, and primary care services via Care.fit. In June 2021, Tata Digital, a subsidiary of Tata Sons, invested up to $75 million in a Series E round, with Mukesh Bansal joining Tata Digital as president while continuing to lead CureFit. This funding aimed to scale fitness and wellness offerings amid a market growing at 20% annually, projected to reach $12 billion by 2025. Post this investment, CureFit pursued further expansion, including acquisitions like Tribe Fitness, a1000Yoga, Kristy’s Kitchen, and TREAD to broaden its footprint, building on prior backers like Flipkart and Myntra. In November 2021, a subsequent Series F round of $145 million led by Zomato valued CureFit at nearly $1.5 billion, achieving unicorn status, with Zomato also divesting Fitso for $50 million. Later developments included a $10 million round in 2024 led by Valecha Investments after layoffs, and recent funding of Rs 84.5 crore. As of FY24, revenue reached ₹312.7 Cr. Cult.fit competes in a booming health sector against players like HealthifyMe. |
| Mar 2020 | Series D | Temasek (lead) | $110M | $815M | Cult.fit (formerly CureFit), founded in 2016 by Mukesh Bansal and Ankit Nagori, operates fitness centers under CultFit, healthy food delivery via EatFit, and mental wellness through MindFit, with 180 fitness centers reported around March 2020. The company raised $110 million in its second Series D round on approximately March 23, 2020, led by Temasek Holdings ($71.8M), with participation from Accel Partners ($14.2M), Chiratae Ventures ($1.8M), and Unilever Swiss Holdings ($2.8M); funds aimed to enhance digital fitness offerings and expand market presence amid COVID-19 challenges after failed SoftBank talks. Prior valuation stood at $575M post its first Series D in June 2019 ($120M raised), with the new round expected to push it over $800M. Total funding reached about $404.6M including this round. Temasek, a Singapore-based global investor active in India (portfolio $11B as of March 2019), backed this as its first Indian startup investment that year. |
| Jun 2019 | Series D | Accel (lead); Chiratae Ventures (lead); Kalaari Capital (lead); Oaktree Capital Management (lead); Epiq Capital; Anand Piramal Trust; Unilever Ventures; Kotak Mahindra Bank; Pratithi Investments; InnoVen Capital | $120M | $575M | Cure.fit, now known as Cult.fit, is a Bengaluru-based health and fitness platform founded in 2016 by former Myntra executives Mukesh Bansal and Ankit Nagori, offering services through brands like Cult.fit for gym and group fitness centers, Eat.fit for healthy meal delivery, Mind.fit for mental wellness, and Care.fit clinics. At the time of the Series D round in June 2019, it operated over 180 Cult.fit centers and 35 Mind.fit centers across cities including Bengaluru, Mumbai, Delhi-NCR, Hyderabad, Chennai, Jaipur, and had recently expanded to Dubai, serving over 500,000 active subscribers with Eat.fit delivering over 35,000 meals per day. The $120 million Series D funding round, closed in June 2019 and led by Chiratae Ventures (formerly IDG Ventures), Accel Partners, Kalaari Capital, and Oaktree Capital Management, valued the company at over $575 million, bringing total capital raised to about $290 million. This matched the specified investors including Anand Piramal Trust, Epiq Capital, InnoVen Capital, Kotak Mahindra Bank, Pratithi Investments, and Unilever Ventures among participants. The funds were earmarked for expanding fitness centers to over 800 by 2020, enhancing digital platforms, and international growth. The company aimed for ambitious long-term growth, targeting 100 million customers over the next decade through a tech-driven, hybrid offline-online model in the burgeoning healthtech sector. Subsequent rounds included a $75 million tranche in the same Series D in May 2019 at around $557 million valuation per regulatory filings, followed by later financings like Series F in 2021 achieving unicorn status at $1.5-1.64 billion valuation led by Zomato. |
| Jul 2018 | Series C | Accel (lead); Chiratae Ventures (lead); Kalaari Capital (lead); Oaktree Capital Management | $120M | - | Cult.fit (Curefit Healthcare Private Limited) operates in the health and fitness sector, offering online and offline services including gym memberships, fitness classes, nutrition, and mental well-being programs. The company raised $120M in a venture round in July 2018 led by Accel, Chiratae Ventures, and Kalaari Capital to support expansion of its fitness centers and services across India. Prior to this, Cult.fit secured debt financing of $10M in January 2018 from Axis Bank and HDFC Bank, and a smaller ₹41.8M venture round in April 2018 led by Ananth Narayanan and Binny Bansal. Subsequently, Cult.fit continued fundraising, accumulating over $670M-$691M across multiple rounds, with a current valuation of ₹12,400 crore and recent operational revenue tripling to Rs 694 crore in FY23. The company has expanded through strategic partnerships, investments in startups like sugar.fit, and backing from investors including Zomato, Tata Digital, and Temasek, positioning it strongly in India's booming health and wellness market. |
| Apr 2018 | Pre-seed | Ananth Narayanan (lead); Binny Bansal (lead) | $600K | - | - |
| Dec 2017 | Pre-seed | Brun Raschle (lead); Endiya Partners (lead) | $900K | - | - |
| Aug 2017 | Series B | Kalaari Capital; UC-RNT Fund; Endiya Partners; Accel; Chiratae Ventures | $25M | - | Cult.fit was founded in 2016 as a fitness and wellness technology platform offering memberships with group classes, gym access, live at-home workouts, sports activities, coaching programs, and wellness resources. The company raised $25 million in a Series B round in 2018 led by growth stage investors, with the purpose of expanding service offerings and growing its customer base. By fiscal year 2025, Cult.fit had grown significantly, reporting operating revenue of INR 1,215.5 crore (approximately $146 million USD equivalent) with 31.2% year-on-year growth, driven primarily by subscription-led fitness business contributing 73% of operating revenue. The company achieved unicorn status in November 2021 after raising $180 million in Series F at a $1.64 billion valuation led by Zomato and Mohit Mathur. As of late 2024, Cult.fit's latest known valuation stood at INR 12,200 crore, with approximately 1,832 employees as of April 2025, positioning it as a hybrid consumer platform combining physical gyms, digital subscriptions, and direct-to-consumer commerce through its Cultsport brand. |
| May 2017 | Series A | RNT Capital (lead); Gokul Rajaram; Shishir Mehrotra; Ruchi Sanghvi | $3M | - | Cult.fit raised $3 million in its Series A round in 2017 from early venture backers including RNT Capital. The funding supported expansion of fitness services and building the initial network. The company, founded in 2016 and headquartered in Bengaluru, India, provides fitness memberships, group classes, gym access, live workouts, sports activities, coaching, and wellness resources. Subsequent rounds included a $25 million Series B in 2018. |
| Jul 2016 | Series A | Kalaari Capital; Exfinity Venture Partners; Accel; Chiratae Ventures | $15M | - | - |
Who has invested in Cult.fit?
39 investors have backed Cult.fit across its funding rounds, including Accel, Chiratae Ventures, Kalaari Capital, Temasek, Endiya Partners and Oaktree Capital Management.
Lead investors include MacRitchie Investments, LifeFit Group, Valecha Investments, Zomato, Tata Digital and 10 other investors.
Cult.fit Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Jul 2016 | ||
| 4 | Lead | Jul 2016 | ||
| 4 | Lead | Jul 2016 | ||
| 2 | Lead | Mar 2020 | ||
| 2 | Lead | Jul 2018 | ||
| 2 | Lead | Aug 2017 | ||
| 1 | Participant | Jun 2019 | ||
| 1 | Participant | Jun 2019 | ||
| 1 | Participant | Jun 2019 | ||
| 1 | Participant | May 2017 | ||
| 1 | Participant | Feb 2024 | ||
| 1 | Participant | Aug 2017 | ||
| 1 | Participant | Feb 2024 | ||
This data is available for Pro users. Sign up to see all 39 Cult.fit investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Cult.fit
Cult.fit has acquired 14 companies to date.
Last acquisition by Cult.fit was on February 14th 2022. Cult.fit acquired Gold's Gym for undisclosed valuation.
Latest Acquisitions by Cult.fit
| Description | Gold's Gym is a Venice-headquartered fitness franchise renowned for bodybuilding since its founding in 1965. It operates over 700 locations worldwide, including corporate-owned gyms in the United States and extensive international franchises across Asia, Europe, and Latin America. The chain offers group fitness classes, personal training, and strength equipment from brands like Hammer Strength. Acquired by TRT Holdings in 2020 after previous ownership by Brockway Moran & Partners, Gold's Gym serves millions of members through its global network. | Urban Terrain is a Noida, India-based bicycle manufacturer producing commuter, hybrid, and mountain bikes. Models like the Ace and Fury series incorporate lightweight alloy frames, Shimano gears, and disc brakes for urban commuting. Products sell through online channels and retailers across India with nationwide delivery. | OneFitPlus is an Indian fit-tech company delivering a comprehensive home fitness ecosystem that includes cardio equipment, daily live streaming sessions, virtual fitness games like Fitwarz, customized diet plans, personal coaching, and progress-tracking apps. The platform rewards user engagement through Healthcoins convertible to real money, alongside doctor consultations and personalized classes. OneFitPlus integrates hardware with software to gamify workouts for at-home users. | RPM Fitness is a Winthrop, Massachusetts-based gym providing group fitness classes such as HIIT, strength and conditioning, indoor cycling, TRX suspension training, Zumba dance, kickboxing, and yoga. The facility spans 10,000 square feet with state-of-the-art equipment and certified instructors leading sessions up to 30 participants. RPM Fitness hosts daily schedules from early morning to evening, accommodating beginners through advanced levels in its open studio spaces. | |
| HQ Country | |||||
| HQ City | Dallas, TX | Noida | Hyderabad | Boston, MA | |
| Deal Date | 14 Feb 2022 | 20 Dec 2021 | 20 Dec 2021 | 20 Dec 2021 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Cult.fit acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Investments by Cult.fit
Cult.fit has invested in 2 companies to date.
Latest investment by Cult.fit was on July 22nd 2025. Cult.fit invested in ApClub in their $200K Pre-seed round.
Latest Investments by Cult.fit
| Description | ApClub is a fitness platform delivering personalized training sessions, group classes, and on-site wellness programs directly to apartment complexes in India. Headquartered in Mumbai, it partners with residential societies to provide expert-led workouts using compact equipment tailored for community spaces. Services include one-on-one coaching, high-intensity interval training, and yoga classes scheduled around resident availability. | Sugar.fit is a Bengaluru-based digital therapeutics company launched in 2021. The platform delivers personalized diabetes reversal programs through an app that integrates continuous glucose monitoring, customized diet plans, and consultations with endocrinologists. Patients track meals, exercise, and medications while receiving real-time coaching from certified diabetes educators. Sugar.fit partners with hospitals across India to provide remote monitoring and behavioral interventions for type 2 diabetes management. | Sugar.fit is a Bengaluru-based digital therapeutics company launched in 2021. The platform delivers personalized diabetes reversal programs through an app that integrates continuous glucose monitoring, customized diet plans, and consultations with endocrinologists. Patients track meals, exercise, and medications while receiving real-time coaching from certified diabetes educators. Sugar.fit partners with hospitals across India to provide remote monitoring and behavioral interventions for type 2 diabetes management. |
| HQ Country | |||
| HQ City | Bangalore | Bangalore | Bangalore |
| Deal Date | 22 Jul 2025 | 31 Oct 2023 | 2 Sep 2021 |
| Round | Pre-seed | Series A | Seed |
| Raised | $200K | $11M | $10M |
| Investors | PedalStart; Pranay Jivrajka | Endiya Partners; MassMutual Ventures; Tanglin Venture Partners | Endiya Partners; Tanglin Venture Partners |
| Valuation | undisclosed | $54M | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Cult.fit investments and their VC round multiples. Start Free Trial | |||
Cult.fit Competitors
Cult.fit competitors include listed companies like DarioHealth and JMDC, and private ones like Twin Health, Calibrate, Welle and Evidation Health.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.4B | - | ||
| Private | $21M | - | $1.3B | 61.9x | ||
| Private | - | - | $1.2B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $22M | ($36M) | $69M | 4.0x | ||
| Publicly listed | $324M | $88M | $1.5B | 4.6x |
Cult.fit Public Comps
Cult.fit is still privately-owned, but its public comps include JMDC, Indegene, Nutex Health, Certara, Dian Diagnostics Group, Johnson Health Tech, Herbalife, Omada Health, Alignment Healthcare and Helus Pharma.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $324M | $88M | 5.0x | 4.6x | 18.4x | 17.9x | |||
| $366M | $68M | 3.7x | 3.3x | 19.9x | 18.2x | |||
| $875M | $288M | 2.0x | 2.0x | 6.0x | 6.4x | |||
| $419M | $103M | 3.4x | 3.6x | 13.9x | 12.0x | |||
| $1.5B | $127M | 1.4x | 1.4x | 16.4x | 12.2x | |||
| $1.7B | $176M | 1.0x | 1.0x | 9.5x | 10.1x | |||
| $5B | $602M | 0.6x | 0.6x | 5.1x | 4.6x | |||
| $260M | ($10M) | 3.8x | 3.1x | (98.6x) | 48.5x | |||
This data is available for Pro users. Sign up to see all Cult.fit competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Cult.fit
| When was Cult.fit founded? | Cult.fit was founded in 2016. |
| Where is Cult.fit headquartered? | Cult.fit is headquartered in Bangalore, India. |
| Is Cult.fit publicly listed? | No, Cult.fit is a private, VC-backed company. |
| What is Cult.fit's valuation? | Cult.fit was last valued at $1.5B in its Series G in March 2026. |
| How much funding has Cult.fit raised? | Cult.fit has raised $675M across 13 funding rounds. |
| What was Cult.fit's last funding round? | Cult.fit's last funding round was a $48M Series G in March 2026, led by MacRitchie Investments. |
| Who are Cult.fit's investors? | Cult.fit's investors include Accel, Kalaari Capital, Chiratae Ventures, Temasek, Oaktree Capital Management, Endiya Partners, Epiq Capital, Anand Piramal Trust, Unilever Ventures, Gokul Rajaram and 29 others. |
| What is Cult.fit's revenue? | Cult.fit's latest recorded revenue is $74M (February 2024). |
| What is Cult.fit's revenue multiple? | Cult.fit's latest valuation implies a 20.2x revenue multiple ($1.5B valuation on $74M of revenue). |
| Which companies are comparable to Cult.fit? | Companies comparable to Cult.fit include Twin Health, Calibrate, Welle, Evidation Health, DarioHealth and JMDC. |
| How many companies has Cult.fit acquired? | Cult.fit has acquired 14 companies, including Gold's Gym, Urban Terrain, OneFitPlus, RPM Fitness and FITSO. |
| What was the largest acquisition by Cult.fit? | The $50M acquisition of FITSO in November 2021 is the largest acquisition Cult.fit has made to date. |
| How many companies has Cult.fit invested in? | Cult.fit has invested in 2 companies, including ApClub and Sugar.fit. |
| What was Cult.fit's last investment? | In July 2025, Cult.fit invested in ApClub's $200K pre-seed round alongside PedalStart and Pranay Jivrajka. |
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