Acquisitions

Cure.fit Claws back into Acquisition Game, Acquires Seraniti

If there is one healthcare startup that has truly attempted to redefine ‘aggression’ then it has be Bengaluru based startup Cure.fit. Continuing with its unabated aggression, Cure.fit has now acquired mental health platform Seraniti for undisclosed amount. Interestingly, Cure.fit had picked up a stake in Seraniti in 2016 and until today it was one of the minority investors in the health platform.

Following the acquisition, Cure.fit will take over Seraniti’s 70 mental fitness centers. Cure.fit will also bring on board Seraniti’s in-house team of therapists and get to acquire its 8,000 customers.

CureFit-funding

Cure.fit acquires mental health platform Seraniti for undisclosed amount

The latest acquisition is likely to give boost to Cure.fit’s mental wellness business Mind.fit. This is company’s second acquisition in the mental wellness segment after the acquisition of 1000 yoga in 2017.

Cure.fit is evidently quite desperate to give a real head-start to its mental wellness business. This is because unlike company’s two other verticals Eat.fit and Cult.fit, Mind.fit has been growing at a snail pace.

According to reports,  fitness unit Cult.fit and healthy food unit Eat.fit have been growing with an annual run rate of Rs 200 crore and Rs 100 crore respectively. Mind.fit, on other hand, has been growing at an unimpressive annual run rate of Rs 25 crore. However, with the latest acquisition, Cure.fit’s co –founder Ankit Nagori expects the run rate to touch Rs 100 crore by end of next year.

Only time will prove whether Seraniti’s acquisition will augur well for this highflying healthcare startup. But then again patience is something that doesn’t quite rightly defines Cure.fit. Ever since it was incorporated in 2016, Cure.fit has been pursuing the growth trajectory with quite impatience. If anyone needs anyone needs any hint about the same then one simply need to look into Cure.fit’s fundraising and acquisition spree ever since its incorporation.

As mentioned above, this Bengaluru based startup is by far the most aggressive startup in the healthcare segment.

I can’t help but bring out the fact how in the past several highly promising and well-funded startups have fizzled out. Remember Housing.com and the fiasco surrounding Rahul Yadav.  Despite being funded by Japanese giant like SoftBank, the Gurgaon based startup ended up hitting the dead wall. However, Cure.fit’s investors can be relived over the fact they have found true savior in co-founders like Mukesh Bansal and Ankit Nagori.

Both co-founders and former Flipkart senior executives certainly appear to be more level-headed than Mr. Yadav. So we certainly have a good enough reason to keep our fingers crossed for this promising startup.

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