Bangalore, India-based Cult.fit acquired cardio equipment makers RPM Fitness, Fitkit, and OneFitPlus, as well as outdoor bicycle brand Urban Terrain.
For context. Formerly known as Cure.fit, Cult.fit has been busy trying to vertically integrate health and fitness since its founding in 2016.
From gyms to healthy food and meditation to primary care clinics, all packaged into one “super app,” the company is following in Steve Jobs’ footsteps, says Cult.fit co-founder Mukesh Bansal:
“We think of ourselves as, DNA-wise, like Apple. Very, very vertically integrated, that’s our core DNA.”
Capital and consolidation. Having raised upwards of $620M in funding, including a $145M investment in December at a $1.5B valuation, Cult.fit has never been shy about expanding its platform through acquisitions.
According to Crunchbase, Cult.fit has acquired 13 companies across digital, hardware, and brick-and-mortar fitness. More recently, the company has focused on digital and connected fitness:
- January 2021: Acquired Onyx, a smartphone-based digital training app
- February 2021: Purchased gym aggregator Fitternity
- June 2021: Added smart bike maker TREAD
- December 2021: Closed on RPM Fitness, Fitkit, OneFitPlus, and Urban Terrain
Of note, in September of this year, Cult.fit made an investment into Sugar.fit, a metabolic health and diabetes reversal startup.
Looking ahead: After pivoting during the pandemic, Cult.fit is reshuffling its platform for the future of health and fitness. For now, the final product is a work in progress.