Fitness and wellness platform cult.fit has acquired TREAD, a Bengaluru-based connected fitness startup that recently launched a smart fitness bike. The acquisition will enable Cult.fit to launch its hardware-at-home business vertical, the company said in a statement on Thursday.
The financial details of the transaction were not disclosed.
Following Cult.fit’s launch of the digital at-home fitness business last year during the pandemic, the platform claims to have seen an uptick in live workout classes on its app.
Along with the acquisition, Cult.fit is also launching a suite of smart fitness hardware products such as TREAD smart bikes and bench.
TREAD, which will continue to function independently, has developed a smart indoor connected fitness bike. The product will have social features such as live workouts and leaderboards to compete with friends. Users can compete with each other and participate in virtual tournaments as well. They can also enjoy scenic rides in their favourite virtual locations, for example a beach in Hawaii or the French Riviera Promenade.
“Globally, the connected fitness market is on the rise and we are committed to bringing the best innovation to our customers in India. We will soon offer a wide range of home fitness equipment to better serve the demand of at-home workouts,” Shamik Sharma, head of digital health at Cult.fit, said.
“With Cult.fit, we will be able to significantly accelerate product development and reach more customers. We are launching a suite of connected fitness cardio and strength products. The TREAD One, A smart indoor exercise bike is our first product which will be followed by digital weight and resistance products, and smart home gym kits. We have already received a lot of interest and several hundred customers have placed pre-orders,” Dinesh Godara, founder of TREAD, said.
Godara founded TREAD last year. He had previously founded edtech startup Wifistudy, which was acquired by Unacademy in 2018.
Late last year, Mukesh Bansal-led Cult.fit forayed into gyms with the launch of cross-gym access Cult Pass, an asset-light model further accelerated through acquisitions of Fitternity and Onyx in 2021.