BENGALURU:
Mukesh Bansal
, the former head of
Flipkart’s commerce platform and
Myntra’s co-founder, is backing a startup Cult as he looks to track the theme of fitness. He has invested an undisclosed amount in the Bengaluru-based firm that is focused on training programmes without using traditional gym equipment.
The investment in Cult comes within days of Bansal announcing a new venture in the healthcare and fitness space along with former
Flipkart colleague Ankit Nagori. Both Bansal and Nagori quit Flipkart in February this year in what was seen as one of the most high profile exits at the largest e-commerce company in India. Bansal had come on board Flipkart when he sold his fashion e-tailing site Myntra to the e-commerce biggie in 2014 for $330 million.
Talking exclusively to TOI, Bansal said, “This is a unique and interesting idea in the space of fitness. I have personally trained here and realize the potential it has to offer. They are looking to expand within and outside of Bengaluru with the fresh capital.” Cult’s services could be integrated with Bansal’s new startup, but nothing has been finalized yet.
In its March 23 edition, TOI had reported that
Bansal and Nagori were gearing up to launch a new company with a focus on fitness and healthcare with a strong technology backbone. The product is at least six-nine months away from launch, this paper had reported.
Co-founded by Rishabh Telang and his brother-in-law Deepak Poduval, Cult started operations in May last year. It has a centre in the suburbs of Bengaluru with plans to open a few more in the city before setting foot in other major metros. Telang said Cult’s approach to fitness is different from that of existing industry players.
Cult offers a mix of martial arts, outdoor activities and yoga exercises. “We don’t have a single treadmill or any other fancy gym equipment. Instead, we have got certified trainers to provide special attention to every member for the curated exercises at our facility. Mukesh training here and now backing us is a sign of trust in our model,” he added.
Other
startups in the space generally offer monthly and daily subscriptions in
fitness studios and gyms. Mobile marketplaces for local services like
Urbanclap
have also been offering services to book gyms and yoga instructors.
Fitternity
,
Orobind
and
Gympik
are some of the fitness-focused
startups
.