Cult.fit, a leading fitness-tech company headquartered in Bengaluru, has successfully secured a $50 million funding round from its existing investor, Singapore state-linked fund Temasek. This strategic investment positions Cult.fit for further expansion and solidifies its market presence as it prepares for a potential initial public offering (IPO).
Company Overview
Founded in 2016 by Mukesh Bansal and Rishabh Telang, Cult.fit has rapidly grown into a prominent player in the fitness-tech industry. The company offers a comprehensive suite of services, including fitness centers, group classes, digital workouts, nutrition programs, and mental wellness initiatives. Cult.fit currently operates over 700 gyms across 60 cities, with a significant presence in Tier 1 markets. Its headquarters in Bengaluru remains its largest hub, hosting over 25 centers.
Funding and Valuation
The recent $50 million funding round values Cult.fit at approximately $1.6 billion. This valuation aligns with the company’s previous Series F round in March 2025, where it raised $2 million. Cult.fit has raised a total of $667 million across 14 funding rounds, with notable investors including Accel, Kalaari Capital, Chiratae Ventures, and Temasek.
Financial Performance
Cult.fit reported a robust financial performance for the fiscal year ended March 2025 (FY25). The company achieved $147 million in revenue from operations, marking a 50% increase from the previous year’s $112 million. Fitness subscriptions, including Cultpass and center-based memberships, accounted for 68% of the gross revenue. The net loss was halved to $53.3 million from $98.6 million year on year, while EBITDA loss narrowed significantly from $63 million to $15 million.
Future Outlook and IPO Plans
Cult.fit is gearing up for a potential IPO, with plans to raise approximately $300 million at a valuation of $2 billion. Although the final size, structure, and timing of the offering are still under discussion, the company has appointed bankers and is actively evaluating alternatives. The company aims to break even in FY26 and expects a 25% year-on-year revenue growth.
Expansion Strategy
Cult.fit is poised to expand its operations into Tier 2 and Tier 3 cities, leveraging its strong market position and brand reputation. This strategic move aims to increase accessibility to fitness services and further penetrate the growing fitness market in India.
Industry Impact
Cult.fit’s latest funding round and IPO preparations highlight the growing interest and investment in the fitness-tech sector. The company’s innovative approach to integrating technology with traditional fitness services has positioned it as a leader in the industry. As Cult.fit continues to expand and innovate, it is expected to drive further growth and development in the fitness market.
