Cult.fit, Zomato-Backed Fitness Startup, To Lay Off Over 100 Employees 

Cult.fit, a fitness startup backed by Zomato, has undergone a workforce reduction, affecting approximately 100 to 120 employees. 

The move is part of a cost-cutting strategy within Curefit Healthcare, the parent company of Cult.fit, which also operates brands such as Sugar.fit and Carefit. While the company aims to streamline operations for enhanced productivity, it refrained from disclosing specific details about the impacted roles. 

This restructuring comes as part of the regular annual operating planning process and aligns with the broader goal of achieving full profitability by the fiscal year 2025. 

Despite recent layoffs, Curefit Healthcare reported significant growth, with operating revenue surpassing Rs 694 crore in FY23, marking a threefold increase from Rs 216 crore in FY22. As the fitness industry continues to evolve, the company’s strategic decisions and focus on profitability position it for future developments. Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cult.fit provides a range of fitness services through online and offline channels, emphasizing group workouts and online training. 

The company, valued at over $1.5 billion, has attracted funding from prominent investors like Accel, Temasek, Chiratae, and Kalaari Capital.