Zomato-backed fitness startup CureFit’s consolidated net loss for FY24 climb by 42% to INR 888.5 Cr from INR 625.5 Cr in FY23 due to increased cash burn

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CureFit, est. in 2016 by Mukesh Bansal & Ankit Nagori, operates a variety of platform like Cultfit for physical fitness, Mindfit for mental health, and Care.fit for primary care

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Rise 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

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Services accounted for INR 663.1 crore, up 46.58% from INR 452.4 crore the previous year

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Meanwhile, revenue from product sales increased by 8.13% to INR 256.7 crore from INR 237.4 crore the previous year

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Its EBITDA loss increased by 123.4% to INR 587.97 crore in the fiscal year under review, up from INR 263.2 crore in FY23

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Advertising and promotional expenses increased 40.67% to INR 188.5 crore from INR 134 crore in FY23

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CureFit aims to be profitable by FY25. It laid off approximately 120 staff at the start of current calendar year as part of a reorganization process

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Startup has raised more than $750 million in funding to far. Its supporters include Accel, Temasek, and Kalaari Capital, among others

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CureFit also reshuffled its leadership in April in bid to bring transformative changes in the corporation

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