Health and wellness startup Curefit is the 36th startup to enter the unicorn club, after raising $50 million in cash from food delivery app Zomato. The total deal size is $100 million.
A unicorn, in startup parlance, is a company valued at or over a billion dollars. Curefit breached this mark with the latest round and is now valued at $1.5 billion.
Zomato now plans to explore synergies with Curefit, as it looks to ramp up its health food play.
"In order to cultivate a great long-term partnership with Curefit, we are also investing cash in Curefit. Net $50 million cash investment plus value of the Fitso business (worth $50 million) will give us a cumulative shareholding worth $100 million in Curefit (6.4% shareholding in Curefit). This will help us potentially explore cross-selling benefits between Zomato and Curefit, as we see food and health becoming the same side of the coin in the long term," said Goyal.
Zomato’s investment into Curefit comes five months after Tata Digital picked up a minority stake in the Mukesh Bansal led business.