Cultfit raises $47 million from Singapore’s Temasek

Fitness startup Cultfit has raised $47 million (Rs 440 crore) from Singapore-based Temasek through its investment arm MacRitchie, according to Registrar of Companies (RoC) documents.

The Cultfit board has approved the allotment of 90,98,052 shares at Rs 483.62 each to Temasek, per the RoC filings.

The Bengaluru-based startup has raised capital after two years. In 2024, the firm raised $10.2 million in a round led by existing backer Valecha Investments, which valued it at over $1.5 billion.


Entrackr was the first to report the latest development.

So far, the company has raised over $650 million from investors like Accel, Temasek, Chiratae, and Kalaari Capital.

Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cultfit provides fitness-related services, both online and offline. Its offerings include group and individual workouts at Cult.fit centres, gyms (including partner facilities), online training, and retail (both physical and online).

In FY25, the firm reported a 31% increase in operating revenue, at Rs 1,216 crore, from Rs 927 crore in FY24. This was driven by rising same-store and online sales (fitness equipment, accessories), and a growing service business (group classes, personal training, gyms).

In April 2024, ET reported that Naresh Krishnaswamy was appointed as the company's chief executive, and Bansal had become the chairman.