Myntra’s co-founder and former head of Flipkart’s commerce platform, Mukesh Bansal, is investing in a fitness startup Cult. This development comes as he looks to track the theme of fitness. Bansal has invested an undisclosed amount in the Bengaluru-based firm that is focused on training programmes without using traditional gym equipment.
It is interesting to know that this investment is happening, comes within days of Bansal announcing a new venture in the healthcare and fitness space along with former Flipkart colleague Ankit Nagori, about we we had reported on Knowstartup.com on Feb 11, 2016. Both of them quit Flipkart in February this year in what was seen as one of the most high profile exits at the largest e-commerce company in India. Bansal became a part of Flipkart when he sold his fashion e-tailing site Myntra to the Flipkart in 2014 for $330 million. Bansal told a newspaper in an interview-
“This is a unique and interesting idea in the space of fitness. I have personally trained here and realize the potential it has to offer. They are looking to expand within and outside of Bengaluru with the fresh capital.”
There is also news of probability of Cult’s services be integrated with Bansal’s new startup where Bansal and Nagori are gearing up to with a focus on fitness and healthcare with a strong technology backbone.Cult offers a mix of martial arts, outdoor activities and yoga exercises. It was co-founded by Rishabh Telang and his brother-in-law Deepak Poduval, and started its operations in May last year. It operates from the suburbs of Bengaluru with plans to open a few more in the city before setting foot in other major metros. Telang has said in a statement that Cult’s approach to fitness is different from that of the players existing in the market right now.