Cult.fit's Transformation: How Fitness, Food, and Mental Health Are Shaping the Future of Wellness

Company Highlights

Cult.fit (formerly Cure.fit) is one of India's leading health and wellness platforms, founded in 2016 by Mukesh Bansal and Ankit Nagori. Initially launched as a fitness studio business, Cult.fit quickly expanded to a digital platform offering fitness training, healthy food delivery (Eat.fit), mental health services (Mind.fit), and healthcare (Care.fit). The company's vision is to provide a comprehensive approach to health by offering users a range of services for physical, mental, and nutritional well-being.

Cult.fit has raised significant funding, including $634.8 million across 12 funding rounds, from investors like Zomato and Tata Digital. As of 2024, the company is focusing on expanding its online and offline offerings, including fitness classes, food delivery, and wellness content​.

About Us

Cult.fit was created with the vision to provide a holistic approach to fitness and health. It started as a fitness solution, combining gyms with lifestyle programs and quickly transitioned into an integrated digital platform. The company offers fitness classes, yoga, boxing, and strength training both online and offline. With the acquisition of Eat.fit, it also provides health-focused food delivery and, through Mind.fit, offers mental wellness services like yoga and mindfulness. Cult.fit’s services are designed to cater to the needs of people looking to stay fit, eat healthily, and manage mental health.

The brand has grown significantly, reaching millions of users across India, making it a dominant player in the health and wellness sector. The company's mission is to make fitness and health accessible to everyone, with a focus on convenience, engagement, and affordability​.

Industry

Cult.fit operates in the rapidly growing health and fitness industry, which includes physical fitness training, healthy food services, and mental health. The industry has witnessed significant changes, especially after the COVID-19 pandemic, as more people turned to online fitness solutions and health-conscious living. With a growing middle-class population in India and increasing awareness about health and fitness, the wellness sector is expected to continue its upward trajectory.

In addition to fitness centers and apps, the wellness industry now also includes services like personalized meal plans, yoga, mental health care, and even at-home workout programs. Cult.fit is well-positioned within this market, providing a comprehensive wellness solution that integrates fitness, nutrition, and mental health. The company competes with other fitness-focused startups and large players in the industry, including gyms, fitness apps, and food delivery services, making it a major competitor in India's wellness market.

Founders and Team

Cult.fit was co-founded by Mukesh Bansal and Ankit Nagori in 2016. Mukesh Bansal, a seasoned entrepreneur, is best known for his role as the founder of Myntra, a leading fashion e-commerce platform, which was later acquired by Flipkart. His experience in scaling large-scale consumer-facing businesses laid a solid foundation for Cult.fit. Ankit Nagori, a former Flipkart executive, brought his deep expertise in business strategy and technology to the company, helping position Cult.fit as a leading player in the fitness and wellness industry.

Together, they envisioned a holistic approach to fitness that would combine physical, mental, and nutritional well-being into a single platform. The team quickly grew to include professionals from diverse fields, ranging from fitness trainers to tech developers, working together to create an integrated health solution​

Startup Story

The idea for Cult.fit was born out of a recognition that the traditional approach to fitness in India needed an overhaul. Mukesh and Ankit saw that people often didn’t prioritize health and would only visit doctors during emergencies. Their solution was to build a platform that not only offered fitness classes but also encouraged a proactive approach to health by integrating food, mental wellness, and healthcare.

Initially, Cult.fit focused on physical fitness studios where they offered unique workout experiences like boxing, yoga, and strength training. However, seeing the rapid rise of digital services, they expanded their model to include an online platform in 2017. This pivot allowed the company to reach a broader audience, especially during the COVID-19 pandemic when the demand for home workouts skyrocketed.

In addition to fitness, Cult.fit also ventured into the food and mental wellness spaces with the acquisition of Eat.fit, which offers healthy food delivery services, and Mind.fit, focused on mental well-being through yoga and mindfulness practices. This diversification helped the company solidify its position as a holistic wellness brand.

With multiple funding rounds and investments from major backers like Zomato and Tata Digital, Cult.fit has grown rapidly and continues to expand its service offerings and user base

Mission

Cult.fit’s mission is to inspire and empower individuals to live healthier and happier lives. The company strives to make fitness and wellness an integral part of everyday life by offering accessible, enjoyable, and effective solutions for physical and mental well-being.

Vision

To become the most trusted and comprehensive health and wellness platform globally by delivering innovative, technology-driven solutions that cater to the diverse needs of individuals, communities, and organizations.

Goals

1. Expand Reach and Accessibility:
   Cult.fit aims to bring its fitness and wellness services to people across all demographics and geographies by leveraging both offline fitness centers and digital platforms.

2. Promote Holistic Wellness:
   The company seeks to integrate physical fitness, mental well-being, and nutritional health into a single platform to provide a 360-degree approach to health.

3. Leverage Technology for Personalization:
   By using AI, machine learning, and data analytics, Cult.fit aims to offer personalized workout plans, nutrition recommendations, and progress tracking for every user.

4. Build a Strong Community:
   Cult.fit aspires to create a supportive and inspiring community of fitness enthusiasts to foster accountability, motivation, and shared success stories.

5. Innovate and Diversify Services:
   Cult.fit continues to introduce new fitness formats, wellness programs, and lifestyle products to address evolving consumer needs.

6. Sustainability and Health Awareness:
   Cult.fit is committed to raising awareness about the importance of fitness and sustainability in everyday life, contributing to healthier societies and a healthier planet.

Cult.fit - Business and Revenue Model

Business Model

Cult.fit operates on a hybrid model that combines offline fitness centers with a robust digital platform to provide a comprehensive health and wellness ecosystem.

1. Offline Fitness Centers:

   • Cult.fit has a network of fitness studios offering various group classes such as yoga, strength training, dance fitness, and HIIT (High-Intensity Interval Training).
   • These centers operate on a subscription-based membership model.

2. Digital Platform:

   • The Cult.fit app provides virtual fitness classes, personalized workout plans, guided meditation, and nutrition consultations.
   • Users can access live and on-demand content through affordable subscription plans.

3. Mental Wellness:

   • Through its Mind.fit offering, Cult.fit provides mental wellness solutions, including guided meditation, therapy sessions, and stress management programs.

4. Nutrition and Healthy Meals:

   • Eat.fit, a division of Cult.fit, delivers healthy, curated meals to customers.

5. Fitness Products and Merchandise:

   • Cult.fit also generates revenue through the sale of fitness gear, accessories, and apparel.

6. Corporate Wellness Programs:

   • Partnering with organizations, Cult.fit offers wellness programs to employees, including fitness training, mental health sessions, and nutrition planning.

Revenue Model

Cult.fit generates revenue through multiple streams:

• Subscription Fees: For access to offline fitness centers and digital workout sessions.
• Meal Plans: Revenue from Eat.fit’s healthy meal delivery services.
• Merchandise Sales: Fitness-related products and apparel.
• Consultations: Fees from online and offline wellness consultations (nutritionists, therapists, and fitness experts).
• Corporate Partnerships: Revenue from customized wellness programs for businesses.

Funding and Investors

Funding Rounds

Cult.fit has raised significant funding from top-tier investors across multiple funding rounds:

1. Seed Round (2016): Initial investment from venture capitalists and angel investors to establish the brand.
2. Series A to D Rounds: Cult.fit raised substantial capital in its growth phases to expand operations and develop its tech platform.
3. Latest Round: As of recent reports, the company has raised a total of over $400 million in funding.

Key Investors

1. Accel Partners
2. Chiratae Ventures (formerly IDG Ventures)
3. Kalaari Capital
4. Temasek Holdings
5. Zomato: Strategic investment to integrate fitness with lifestyle services.
6. UC-RNT Fund (A joint venture between Ratan Tata’s RNT Associates and the University of California).

Acquisitions

Cult.fit has also strengthened its ecosystem through strategic acquisitions, including:

• Fitternity: A fitness discovery platform.
• TREAD: A home fitness equipment startup.
• Gold's Gym India: Acquired assets of Gold's Gym India during the pandemic to expand offline presence.

Cult.fit - Shareholding & Growth, Revenue, and Competitors

Shareholding Structure

1. Founders: Mukesh Bansal and Ankit Nagori hold significant stakes in the company, reflecting their leadership roles and entrepreneurial contributions.
2. Investors:
   • Major investors like Accel Partners, Kalaari Capital, Temasek Holdings, and Zomato collectively hold a substantial portion of equity through multiple funding rounds.
   • The UC-RNT Fund (Ratan Tata-backed) also holds a minority stake.
3. Employee Stock Options (ESOPs): Cult.fit offers ESOPs to its employees to ensure alignment with the company's long-term goals.

Ownership percentages fluctuate with each funding round, with valuations growing as the company scales its services and market presence.

Growth and Revenue

1. Growth:

   • Cult.fit has experienced significant growth since its inception in 2016, fueled by its hybrid business model and strategic acquisitions.
   • The COVID-19 pandemic accelerated the adoption of its digital fitness offerings, with app usage and virtual subscriptions growing exponentially.
   • The acquisition of Gold’s Gym India and Fitternity strengthened its offline and digital presence.
   • Expansion into Tier 2 and Tier 3 cities has broadened its customer base.

2. Revenue:

   • FY2022-2023 Revenue: Estimated between ₹800–1,000 crore, driven by subscriptions, merchandise sales, and corporate wellness programs.
   • Diversified revenue streams (offline, digital, meal services, and mental wellness) ensure steady growth.
   • Cult.fit is projected to break even within the next few years as its operating efficiency improves.

Competitors

1. Direct Competitors in Fitness:

   • Fittr: A fitness and nutrition-focused app with a large community base.
   • HealthifyMe: A digital wellness app offering fitness tracking, personalized diet plans, and virtual fitness trainers.
   • BurnCal: A fitness app emphasizing calorie management and performance tracking.

2. Offline Fitness Chains:

   • Gold’s Gym (Global): Offers a premium gym experience, now partially integrated with Cult.fit in India.
   • Snap Fitness: An international chain with franchise-based gyms.
   • Anytime Fitness: Known for 24/7 gym access.

3. Mental Wellness Services:

   • YourDOST and BetterLYF: Focus on online therapy and mental wellness, competing with Cult.fit’s Mind.fit.

4. Healthy Meal Delivery:

   • FreshMenu and Zomato’s Nutrition Segment: Compete with Cult.fit’s Eat.fit.
   • Sprink.Online: A niche player in healthy meal delivery.

Future Plans

1. Expansion of Offline Presence

• Cult.fit aims to increase its network of fitness centers in Tier 2 and Tier 3 cities across India while also expanding its presence internationally.
• Plans to integrate acquired gyms, such as Gold’s Gym India, into its ecosystem to offer a consistent brand experience.

2. Enhancing Digital Offerings

• Invest in advanced AI-driven personalization to provide more tailored fitness and nutrition recommendations.
• Introduce new fitness formats, interactive live classes, and gamified workout experiences on the Cult.fit app.

3. Growth in Corporate Wellness

• Focus on corporate partnerships to expand its B2B offerings, including wellness programs for companies, employee fitness tracking, and mental health support initiatives.

4. Diversification of Wellness Services

• Expand its Mind.fit division to include more mental health resources, such as meditation workshops, therapy sessions, and stress management courses.
• Launch wellness retreats combining fitness, mental well-being, and relaxation therapies.

5. Integration with Wearable Technology

• Develop compatibility with wearables like Fitbit, Apple Watch, and Google Fit to provide seamless fitness and health tracking.

6. Global Expansion

• Venture into international markets in Asia and the Middle East, leveraging the growing demand for accessible and tech-driven wellness solutions.

7. Sustainability Goals

• Promote eco-friendly practices in fitness centers, including energy-efficient equipment and sustainable meal delivery options through Eat.fit.

FAQs About Cult.fit

1. What services does Cult.fit offer?
Cult.fit provides fitness classes (online and offline), mental wellness sessions, personalized workout plans, healthy meal delivery, and corporate wellness programs.

2. How do I subscribe to Cult.fit?
You can subscribe through the Cult.fit app or website. Subscriptions are available for fitness classes, online sessions, and meal services.

3. Is Cult.fit available in my city?
Cult.fit operates in major Indian cities and is continuously expanding. Check the app or website for location availability.

4. Does Cult.fit provide free workouts?
Yes, Cult.fit offers free workout videos and trials on its app, with additional features available through subscriptions.

5. Can I access both offline and online classes with one membership?
Cult.fit offers hybrid plans that include access to both offline fitness centers and online workout sessions.

6. Are mental health services included in the subscription?
Some subscriptions include access to Mind.fit, which provides meditation and therapy sessions. Specific services may require additional charges.

7. Does Cult.fit offer a diet plan?
Yes, Cult.fit provides personalized diet plans and delivers healthy meals through its Eat.fit service.

8. Can I cancel my subscription?
Yes, subscriptions can be canceled through the app or website. Refunds depend on the plan’s terms and conditions.

9. What is the pricing for Cult.fit memberships?
Membership costs vary depending on the plan and location. Check the Cult.fit app for detailed pricing.

10. How does Cult.fit compare to its competitors?
Cult.fit stands out by offering a comprehensive ecosystem that combines fitness, nutrition, and mental wellness on a single platform.

Latest News about Cult.fit (December 2024)

1. Employee Layoffs: Cult.fit, backed by major investors like Zomato and Tata Digital, recently laid off around 150 employees to reduce cash burn. This move comes amidst efforts to streamline operations and optimize costs as the company faces financial pressures​

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2. Acquisition Plans and Business Expansion: Cult.fit has continued its strategy of acquiring fitness-related brands. Notably, it has acquired equipment brands like RPM Fitness, Fitkit, and Urban Terrain. These acquisitions aim to strengthen its presence in the fitness hardware market by offering a range of smart, tech-integrated fitness solutions, including at-home equipment and bicycles​

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3. Investment by Tata Digital: Tata Digital remains a significant investor in Cult.fit, having infused ₹546 crore to support its growth. This partnership has facilitated Cult.fit's diversification into multiple fitness verticals​

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