Health startup Cult.fit acquires 4 fitness brands
Bengaluru, Dec 20 (IANS) Health and wellness startup Cult.match on Monday mentioned it has acquired cardio tools manufacturers RPM health, Fitkit and Onefitplus in a single transaction and is foraying into outside bicycles enterprise with City Terrain model.
Aiming at $50 million income by December 2022 from house tools and outside bicycles enterprise, Cult.match now has the biggest share within the on-line cardio tools market with new acquisitions and Cultsport and Tread manufacturers, the startup mentioned in an announcement.
That is the second acquisition within the area by Cult.match after earlier buying Tread, a Bengaluru-based sensible health bike startup final 12 months. The startup didn’t disclose the acquisition sum.
“We now have a spread of choices in any respect value factors, ranging from easy air bikes for Rs 5,000-Rs 7,000 to premium Cult bike for Rs 50,000. Cult.match is constructing the biggest home of health D2C manufacturers within the nation, having the biggest neighborhood of health lovers,” mentioned Shamik Sharma, Head of Digital Well being, Cult.match.
Cult.match lately accomplished a $150 million ‘Collection F’ fundraise and entered the unicorn membership.
The manufacturers — RPM health, Fitkit, Onefitplus and City Terrain — had been constructed and scaled by Mohit Mathur and his workforce at Shoora Retail, who will be part of Cult.match to additional develop the enterprise.
“Given Cult’s unmatched capacity to construct health communities, we will additionally quickly develop our bicycles portfolio to emerge as India’s premier tech-led neighborhood bicycle model,” mentioned Mohit Mathur, Founder, Shoora Retail.
Based in 2016 by Mukesh Bansal and Ankit Nagori, Cult can be increasing manufacturing functionality to make sure management over the end-to-end provide chain.
Cult.match is an app-based service supplier and is accessible on Android and iOS.
–IANS
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