App-based health and fitness platform Cult.fit has acquired the India business of international fitness chain Gold’s Gym.
cult.fit is the platform to power healthy lifestyle and holistic cure across fitness, food, and mental well-being. cult.fit will guide users in developing healthy habits and enable easy fulfillment of all health related needs.
Cult.fit said it will invest in increasing revenues from existing Gold’s Gym centres, and facilitating centre expansion via franchisees in coming years. Gold’s Gym is the second largest fitness chain in India operating more than 140 centers across more than 90 cities.
Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cult.fit recently completed a $150 million Series F fundraise to become a unicorn.
“We have a mission to touch 200 clubs in 24 months. With this partnership, we can now leverage Cult.fit’s strong technology, operations and demand generation capabilities to further empower and enable our high-quality supply to scale,” said Nikhil Kakkar, Chief Operating Officer, Gold’s Gym.
“We aim to build immense value into the fitness ecosystem generating top-notch tech advancement, great business opportunities, and better returns for our partners in the long run,” said Naresh Krishnaswamy, growth and marketing head, Cult.fit.
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