Food delivery and restaurant aggregation platform Zomato Ltd has acquired a 6.4% stake in Curefit Healthcare Ltd via twin deals, making it the 36th billion-dollar company, or unicorn, at $1.5 billion. Zomato’s $100 million deal with Curefit is two-fold -- it sold sports facilities provider Fitso ( operated by Jojo Technologies) to Curefit for $50 million while also making a separate $50 million cash investment in the health and wellness business. Fitso checked these boxes on divestment and we are in the process of selling Fitso to Curefit (Curefit Healthcare Pvt Ltd) for $50 million," said Goyal in a company blog on Wednesday. Net $50 million cash investment plus value of the Fitso business (worth $50 million) will give us a cumulative shareholding worth $100 million in Curefit (6.4% shareholding in Curefit). In 2020, Curefit Healthcare raised ₹832 crore in a funding round led by Singapore government backed Temasek and other investors such as GableHorn Investments and Ascent Capital.

Source: Mint November 11, 2021 06:00 UTC