Curefit Raises INR 16.8 Cr from Existing Investor, Targets FY26 Profitability

The investment values Curefit at approximately USD 160 million, the same as four years ago.

Health and fitness startup Curefit has secured a fresh capital infusion of INR 16.8 crore (USD 2 million) from existing investor First Luxembourg SCA, a step-down subsidiary of German fitness major Life Jacket Group.

The investment values Curefit at approximately USD 160 million, the same as four years ago.

As per the Ministry of Corporate Affairs (MCA) filings, Curefit issued 340,000 compulsorily convertible preference shares (CCPS) at INR 483.62 each to raise the funds. This internal round comes as an inbound investor request.

CEO Naresh Krishnaswamy said the company had not planned a new fundraise but proceeded based on investor interest. “While we don't need to raise funds for any of our corporate purposes, it's an inbound request from existing investors and we've moved forward,” he said in an email to Inc42.

The company, which was founded in 2016 and operates over 700 gyms across 40 cities, has previously raised USD 6.6 million from investors including Zomato, Tata Digital, Temasek, Accel, and Hrithik Roshan. In its last round, Curefit raised INR 84.5 crore in a Series F round led by Valecha Investments.

Krishnaswamy confirmed that Curefit aims to achieve EBITDA profitability by the end of FY26. “We have seen double-digit EBITDA momentum over the past two years bringing us closer to profitability, and we hope that this trend continues,” he said. He added that the company’s operations in Bengaluru, Hyderabad, Delhi NCR, Mumbai, Pune, and Chennai contribute to 90% of its revenue.

The company also reported a 30% rise in revenue and over 50% reduction in losses in FY25, though audited figures are yet to be filed. In FY24, Curefit’s net loss increased by 42% to INR 888.5 crore.

The startup’s IPO plans are on schedule. “Our DRHP filing process, the IPO, is moving as planned. Our listing is scheduled to take place in 2026,” Krishnaswamy stated.

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