Tata Digital, a subsidiary of Indian conglomerate Tata Sons, announced on Monday that Tata Digital to invest $75 million in fitness startup CureFit.
Mukesh Bansal, co-founder and chief executive of CureFit will join Tata Digital as president and also continue in his role at the Bangalore-headquartered startup.
This investment can be a proof that this giant company is now interested in expanding its presence in the consumer tech space. Earlier this year, Tata Group acquired a majority stake in online grocery startup BigBasket and local media reports says they are to acquire online pharmacy 1mg also.
Mukesh Bansal, co-founder and chief executive said in a statement,
“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”. Being part of Tata Digital will enable us to nationally scale up our offerings for our customers”.
Mukesh Bansal also sold his previous venture “Myntra” to Flipkart.