In a strategic move following a successful ₹440 crore Series G funding round, CureFit has appointed four independent directors to its board as it prepares for a potential IPO.
The new board members include:
- Kalpana Morparia - Former chairman of JPMorgan South and Southeast Asia.
- Arun M. Kumar - Managing partner at Celesta Capital and former CEO of KPMG India.
- Indu Bhushan - Former IAS officer and CEO of Ayushman Bharat.
- Pragya Misra - Head of strategy and global affairs for OpenAI in India.
Morparia, who has a notable history with JPMorgan, has also been recognized with the Padma Shri award. Kumar has previously held significant roles in both the private sector and government, including a position in the Obama administration. Bhushan brings extensive experience in healthcare and policy, while Misra has a background in communications at major tech firms.
CureFit's chairman and founder, Mukesh Bansal, emphasized the importance of strong governance as the company scales, highlighting the value of independent voices on the board.
This board expansion aligns with CureFit's imminent plans for a public market debut. Reports indicate that the company has shortlisted several investment banks, including Axis Capital and Goldman Sachs, to manage its anticipated ₹2,500 crore public offering.
Founded in 2016 by Mukesh Bansal and Ankit Nagori, CureFit operates the fitness platform Cult.fit, which encompasses various gym subscription models. The company currently manages 700 gyms across more than 40 cities and has raised over $660 million to date, entering the unicorn status in 2021.
Financially, CureFit has made significant strides, reducing its net loss by 83% to ₹483 crore in FY25, while its operating revenue increased by 31% to ₹1,215 crore from the previous fiscal year.
