Can create a success healthcare ecosystem?

▴ Can create a success healthcare ecosystem? entered the four healthcare verticals - for fitness; for healthy food; for mental wellbeing and for medical diagnosis. Out of the four, only remains successful.

Fitness in India is a massive industry that is increasing by 20% per annum and will reach $12 billion by 2025. Here traditional franchises like Gold’s Gym and Snap Fitness take up the most space. Around 2015, no digital or tech-led company had entered the fitness space in India. But things were about to change.

In 2007, Mukesh Bansal had created Myntra which within seven years was acquired by the e-commerce giant Flipkart for a whopping Rs 2000 crores. Many wondered what Bansal’s next venture would be. The wait finally got over in 2016. Bansal along with Ankit Nagori created Their aim was to create a complete healthcare ecosystem. 

They successfully entered four main healthcare verticals - for fitness; for healthy food; for mental wellbeing and for medical diagnosis. Out of the four, the fitness venture remained the most successful creating 62.4% of the company’s revenue. accounted for 34.5% and contributed 3.06% to the company's revenue. before the pandemic would lend sessions to its users in physical centres. But after the pandemic, the company got pushed into creating a digital platform where they gained more than a million users. The company uses the user’s smartphone camera to track their moments and give them a score on their ‘energy meter.’ Furthermore, the classes at these centres are based on the data collected and diagnosed to keep it in sync with what the user prefers and based on his / her health.

The company has made notable tie-ups with big athletes. Notable names are K.L. Rahul, AB de Villiers, Jonty Rhodes and Mary Kom. They have also signed Bollywood names like Hrithik Roshan and Tiger Shroff. 

Most surprisingly, they had gained significant capital before even an app was launched. By 2020, had raised $294 million with 8 rounds of funding. They acquired Fitternity in February 2020 and expanded their physical presence in over 20 Indian cities with 5000 fitness centres. has acquired another 8 organizations, including TREAD which was purchased in June 2021.

With its current market-leading position it is going to expand into other Geographies, particularly the USA. There the fitness sector is filled with massive competition from heavily-funded startups like Mirror and Peloton and with big players like Adidas and Nike with their own fitness subscriptions. 

This June, the salt-to-steel giant Tata acquired massive stakes in Healthcare by signing a $75 million deal. They gave Bansal the President spot on Tata Digital, a 100% subsidiary of Tata Sons. Before this was valued at $800 million. With $479.6 million in funds and the massive support of Tata, should invest more in its fitness section or provide more for its other verticals?

Tags : #MukeshBansal #AnkitNagori #Myntra #Flipkart #Cultfit #Eatfit #Curefit #Mindfit #Carefit #Tatasons #TataDigital #smitakumar #medicircle

About the Author

Priyal Shah

Priyal Shah is a graduate of Media from Mithibai College, Mumbai. She is a writer, researcher and avid reader.

Related Stories

Loading Please wait...