A lot has gone unexplained for a development as big as this one. Earlier this month, the Tata group announced the appointment of Mukesh Bansal as the president of Tata Digital. Bansal is the co-founder and CEO of fitness startup Curefit, which he currently runs in Bengaluru, and had earlier co-founded the fashion e-commerce company Myntra.
In addition to the appointment, Tata Digital is in the process of investing $75 million in Curefit. While the company hasn’t disclosed it, the investment comes at the same valuation—$727 million—as Curefit’s last round in March 2020, according to a person aware of the development; Tata Digital’s investment amounts to about a 10% stake in Curefit.
This is a strange development for multiple reasons and, as we said, much has gone unexplained. For one, the Curefit investment is being looked at as an