Cure. Fit raises $75 Million in the first tranche of Series D funding round
Cure. Fit raises $75 Million in the first tranche of Series D round.
Fit valuation soon to raise over $500 Million.
Accel Partners has led the round with investing $29.58 million.
Healthtech is among the top five investment lucrative segments in the Indian startup ecosystem and this segment is attracting the high interest of investors. Cure. Fit a health tech Indian major startup is capitalizing this opportunity wisely. It has been continuously raising funds since last August. After closing its Series C funding round the startup has now come up with its first tranche of Series D funding round.
The first tranche of Series D round is worth $74.54 million, secured via both preference and equity routes. Existing investor, Accel Partners has led the round with $29.58 million (Rs 207.15 crore) investment via 94,17,811 Series D1 CCCPS priced at Rs 219.96 each. Several existing investors including The McGovern Family, Makan Family Trust, Pratithi Investments, Castle Investments, Satyadharma Investments, Bruno E. Raschel, Chiratae Ventures, and Kalaari Capital also participated in the funding round. This round also attracted new investors Hadley Family Trust, Epiq Capital and Anand Piramal Trust in the funding round. Majorly, Kalaari and Epiq Capital have poured in $9.86 million (Rs 69.05 crore) each, Chiratae Ventures has invested $8.37 million (Rs 58.36 crore) via three different entities, Bruno E. Raschel – Vice Chairman of Schroder Adveq Holding AG, a part of Adveq Group – have invested $7.89 million (Rs 55.24 crore) worth capital into the Indian startup. Sydney based Barrijag Pty Ltd. representing Hadley Family Trust, is investing approximately $1 million each in both preference and equity capital.
Cure. Fit closed its previous series C funding round in January 2019. The funding round initiated in August 2018 and in that round startup has raised $111.24 Million altogether across 3 tranches and this without counting the Rs 16 crore debt funding by Binny Bansal. Post this round company valuation was $254.09 Million. But it is expected by end of this Series D funding round company valuation will cross $500 Million marks. With this, the Mukesh Bansal and Ankit Nagori led firm is halfway done with its progress towards becoming a Unicorn. Upcoming tranches of this funding round is a matter of interest for all.
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