Mukesh Bansal to join as President, Tata Digital
Tata Digital has entered a Memorandum of Understanding (MoU) for investing of up to $75 million in CureFit, subject to completion of diligence process and other approvals.
Mukesh Bansal, Founder and CEO, CureFit, will join Tata Digital in an executive role as President, Tata Digital Limited. In addition, he will continue in his leadership role at CureFit.
CureFit has developed a strong ecosystem around fitness and wellness. Indian fitness and wellness market is growing at ~20 per cent per annum and is expected to reach ~$12 billion by 2025. With its range of fitness and wellness offerings, it will help Tata Digital expand into pro-active health management space.
Speaking on the development, N Chandrasekaran, Chairman, Tata Sons, said, “The CureFit partnership with its industry-leading platform in fitness and wellness aligns well with our overall healthcare proposition where fitness is increasingly becoming an integral part of a consumers’ life. We are delighted to have Mukesh Bansal as a part of the key leadership team of Tata Digital. With his deep consumer experience and an entrepreneurial mindset of having incubated and grown two successful businesses, his expertise will bring immense value to us.”
Expressing happiness on his new role, Bansal said, “Joining Tata Digital marks an exciting new step for me and my team and is a recognition of the value we have created with CureFit for fitness enthusiasts in India. Being part of Tata Digital will enable us to nationally scale up our offerings for our customers. Tata Digital has an inspiring vision to create next-generation consumer platform and I am excited to be part of its team that is shaping this vision.”
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