Tata Digital Ltd. will invest $75 million in fitness startup Curefit. Mukesh Bansal, the Co-Founder, and Chief Executive Officer will join Tata Digital as president and continue to lead his company as well. The investment for which Tata Digital has entered into a Memorandum of Understanding (MoU) with Curefit is subject to fulfillment of the diligence process and other approvals, according to a statement on Monday.

It was not clear at what valuation Tata has invested in Curefit. The company was last valued at around $800 million when Singapore’s Temasek had invested in the firm, just before the Covid-19 pandemic last year, Curefit, which counts Tata Group’s Chairman Ratan Tata as an early investor, is the third significant startup investment by the salt-to-software combination as it looks to build its digital play against the likes of Amazon India, Reliance, and Walmart-Flipkart. It recently has acquired BigBasket and is in the process to buy Pharma company 1mg.

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Mukesh Bansal, who is co-founder of online fashion retailer Myntra, has been running Curefit for the past 5 years. “With his deep consumer experience and an entrepreneurial mindset of having incubated and grown two very successful businesses, his expertise will bring immense value to us,” said N Chandrasekaran, Chairman of Tata Sons Pvt. Ltd.