Introduction
What if fitness, nutrition, mental wellness, and healthcare existed under one digital roof? That’s the question Mukesh Bansal and Ankit Nagori asked in 2016 leading to the creation of Cure.fit, now known as Cult.fit .
Their vision was simple yet ambitious to make health “easy and enjoyable” through a single integrated platform combining workouts, healthy food, mental well being, and preventive care. Over the years, Cult.fit has grown from a niche startup into one of India’s largest fitness and wellness ecosystems, valued at over $1.5 billion.
Founding Vision
Mukesh Bansal wanted to create a company that could genuinely improve people’s lives. Meanwhile, Ankit Nagori, inspired by his Flipkart journey, was passionate about scaling consumer internet businesses.
They saw an opportunity: India’s health and fitness market was fragmented, gyms were unorganized, diets inconsistent, and mental wellness often overlooked. The duo decided to unify it all under one data-driven brand Cure.fit.
Business Ecosystem
Cult.fit operates through multiple verticals that together create a holistic “health chain.”
| Vertical | Brand Name | Focus Area | Revenue Source |
| Fitness | Cult.fit | Gyms, group workouts, online classes | Memberships & franchises |
| Nutrition | Eat.fit | Healthy meals & cloud kitchens | Meal sales & subscriptions |
| Mindfulness | Mind.fit | Yoga & meditation | Online/offline classes |
| Healthcare | Care.fit | Diagnostics & consultations | Doctor fees & packages |
This ecosystem approach allows Cult.fit to cross-sell services a fitness user can order Eat.fit meals, join Mind.fit sessions, and book tests through Care.fit, all via the same app.
Funding and Growth
Cult.fit quickly attracted investor confidence thanks to its founders’ track record and unique model. Major funding milestones include:
| Year | Round | Amount Raised | Investors |
| 2016 | Seed | $15M | Accel, Chiratae |
| 2018 | Series C | $120M | Temasek, IDG Ventures |
| 2020 | Series D | $110M | Accel, Temasek |
| 2021 | Strategic Stake | Tata Digital | |
| 2021 | Investment | $100M | Zomato |
These funds helped Cult.fit expand to 150+ centres across India, acquire boutique gyms like Fitternity, and launch digital fitness platforms during the pandemic.
Business Model: The Hybrid Health Engine
Cult.fit operates on a hybrid model blending offline experiences with digital convenience.
1. Cult.fit Centers
Physical fitness studios offering diverse workouts: dance, boxing, HRX sessions, and strength training. Users pay via Cult Pass (monthly/annual memberships).
Post-2022, Cult.fit adopted a franchise model to expand without heavy capex.
2. Cult.fit App
The app acts as the digital core offering live and on-demand workouts, personalized plans, and AI-driven health tracking.
This pivot became crucial during the COVID-19 lockdown, turning Cult.fit into India’s go-to digital fitness destination.
3. Eat.fit
A network of cloud kitchens offering calorie-counted meals. It not only caters to fitness enthusiasts but also serves corporate wellness programs.
4. Mind.fit & Care.fit
Mind.fit focuses on yoga and mental wellness, while Care.fit provides preventive healthcare and diagnostics positioning Cult.fit as a “total health partner.”
Financial Overview
Cult.fit’s growth has been impressive, but profitability remains challenging due to high operating costs.
| Fiscal Year | Revenue (₹ Cr) | Net Loss (₹ Cr) |
| FY21 | 161 | 671 |
| FY22 | 216 | 681 |
| FY23 | 694 | 595 |
| FY24 | 927 | 869 |
Despite losses, revenue has tripled since FY22, and the company targets EBITDA profitability by FY25.
The fitness vertical contributes ~65% of revenue, while digital and franchise models are expected to drive future margins.
Marketing Strategy
Cult.fit transformed the perception of fitness in India through brand storytelling and digital engagement.
- Celebrity Collaborations: Partnerships with Hrithik Roshan (HRX workouts) and Milind Soman amplified aspirational appeal.
- Gamification: The Cult.fit app rewards consistency with points, leaderboards, and challenges turning workouts into a social experience.
- Content Marketing: Motivational videos, transformation stories, and YouTube classes attract millions of users.
- Cross-Brand Synergy: Collaborations with Zomato and Tata Neu extend its ecosystem reach.
Challenges
1. High Operational Costs
Running gyms in metro areas incurs heavy rent and staff expenses. Despite strong brand recall, fixed costs have pressured profitability.
2. COVID-19 Disruption
Lockdowns forced gym closures, cutting offline revenues. However, Cult.fit’s quick pivot to digital classes saved the brand.
3. Customer Retention
The fitness sector struggles with low renewal rates. Cult.fit relies on gamification and personalized coaching to improve stickiness.
4. Complexity of Multi-Vertical Model
Managing fitness, food, and healthcare simultaneously adds operational strain and requires continuous focus to maintain quality.
Strategic Moves
To improve sustainability, Cult.fit made several key strategic shifts:
- Franchise Expansion: Reduced capital costs by partnering with entrepreneurs to open Cult centres.
- Cost Optimization: Workforce restructuring in 2023 streamlined expenses.
- Digital Acceleration: Emphasis on app-based workouts and hybrid memberships.
- D2C Growth: Launch of Cult.Sport, a fitness apparel brand competing with Decathlon and HRX.
- Corporate Wellness: Entered B2B wellness solutions for enterprises and startups.
These moves mark Cult.fit’s transition from a growth-heavy startup to a profitable consumer brand.
Lessons for Entrepreneurs
- Build an Ecosystem, Not a Product: Cult.fit’s multi-service integration created stronger customer loyalty.
- Adapt Quickly: Its pivot to digital fitness during COVID-19 was a survival masterstroke.
- Prioritize Profitability: Sustainable growth beats aggressive expansion.
- Leverage Partnerships: Collaborating with Tata Digital and Zomato added financial stability and scale.
- Create Experiences, Not Just Services: The brand’s focus on community and gamified engagement keeps users emotionally invested.
Conclusion
As of 2025, Cult.fit aims for EBITDA-positive operations and an IPO within 2–3 years. The focus will be on expanding its franchise footprint, deepening its D2C vertical (Cult.Sport), and strengthening digital subscriptions.
If successful, Cult.fit will not just be India’s largest fitness chain but a complete health ecosystem that redefines how Indians approach wellbeing.
