Health and fitness startup Cure.fitwill launch two quick service restaurants (QSR) in the next 4-6 weeks, offering healthy food to people who are on-the-go in Bengaluru. This move makes Cure.fit one of the early firms in the food tech sector to foray into the offline space.
This development comes just a month after the company raised $120 million in a financing round led by IDG Ventures, Accel Partners and Kalaari Capital, bringing the two-year-old firm’s total funding up to nearly $170 million.
“Our proposition is that people should find healthier ways to eat wherever they are,” said Ankit Nagori, cofounder of Cure.fit. “This is why having an outdoor presence is important. We are piloting with a couple of outlets and will see how it goes.”
The company is using approximately Rs 40-45 lakh to build each of the food outlets.
Founded by Myntra cofounder Mukesh Bansal and former Flipkart executive Nagori, Cure.fit offers four fitness and health products. These include gyms under Cult.fit, health food under Eat.fit, yoga and meditation centres under Mind.fit and the latest offering is a primary care with Care.fit.
Eat.fit, which is currently available through the company’s app and via food-ordering app Zomato, clocks close to 13,000-14,000 daily orders. Nagori said food currently forms around one-fourth of the company’s overall revenues and expects it to become its largest category in the next three years with over 50% revenue coming from Eat.fit.
Other companies that have forayed into the offline space include the likes of Freshmenu, which currently has one outlet functional in Bengaluru. Experts tracking this space believe that internet kitchen companies launching outlets is primarily a marketing effort to garner customer attention rather than contributing heavily to daily order numbers.
“Internet kitchens lose out to restaurant aggregators with respect to customer mindshare and they are not able to get the returns for their marketing investments. So offline efforts could help them get more customers,” said Rohan Agarwal, engagement manager at Redseer Consulting. “Eat.fit has done something similar by launching kiosks in corporate food courts in the last eight months, which has helped them gain visibility and customers.”
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