CureFit, a Zomato-backed fitness startup, had its consolidated net loss for the fiscal year ending March 2024 (FY24) climb by 42% to INR 888.5 Cr from INR 625.5 Cr the previous fiscal year due to increased cash burn.
CureFit, founded in 2016 by Mukesh Bansal and Ankit Nagori, operates a variety of platforms, including Cultfit for physical fitness, Mindfit for mental health, and Care.fit for primary care. However, Nagori later departed the firm to pursue his new endeavour, cloud kitchen startup Curefoods.
The increase in loss occurred despite the startup’s operating revenue increasing by 33.6% to INR 926.6 Cr in FY24 from INR 693.7 Cr in FY23.
Services accounted for INR 663.1 crore, up 46.58% from INR 452.4 crore the previous year. Meanwhile, revenue from product sales increased by 8.13% to INR 256.7 crore from INR 237.4 crore the previous year.