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Myntra co-founder's new venture raises $15 million


Startup & Entrepreneurship

Myntra co-founder's new venture raises $15 million

Mukesh Bansal, the co-founder of fashion portal Myntra, has raised $ 15 million for his new startup CureFit. The funding comes from a round of investors who also funded his first venture. With $15 million, CureFit will stand to be one of the largest seed investment rounds in startups this year.

The investors who participated were Accel Partners, IDG Ventures India and Kalaari Capital. Bansal himself invested $ 3 million in the venture.

Commenting on the development, Bansal said “We aim to build an innovative product, which will help consumers manage their health proactively with the use of technology and data.”

CureFit is based on the concept that fit people should not have to pay more for healthcare. The startup aims to award points for every positive fitness routine undertaken by the customer, which can then be exchanged for actual medical expenditures, if any. The company is in talks with healthcare service providers to offset such points against medical bills, according to people familiar with the developments at the fledgling venture.

Source: Economic Times

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