cult.fit Acquires TREAD
The acquisition will help cult.fit launch its hardware-at-home business vertical
Integrated fitness and wellness platform cult.fit on Thursday announced that it has acquired Bengaluru-based connected fitness startup TREAD that recently launched a smart fitness-bike.
The acquisition will help cult.fit launch its hardware-at-home business vertical.
"There is immense scope in the burgeoning fitness hardware market and as a leader in the fitness space; we aim to make the best technology and products available to our customers. The acquisition of TREAD is a leap in that direction. With their team, we plan to offer a unique suite of products that will help us foray into the at-home fitness hardware market and further differentiate the cult.fit platform from any other in the fitness industry," said Mukesh Bansal, founder, cult.fit.
Following cult.fit's launch of digital at-home fitness last year, the platform has seen a massive uptick in live workout classes on its app. cult.fit has been continuously innovating with computer vision tech applications for at-home workouts. In a move to further enrich the experience, cult.fit is launching a suite of smart fitness hardware products.
The acquisition of TREAD is the first step towards launching a suite of products like TREAD smart bikes, bench, etc. cult.fit's deeper expansion into the connected fitness hardware market places the company further on its path to becoming India's leader in everything related to fitness.
"We are excited to welcome TREAD and its team to the cult.fit family. 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," shared Shamik Sharma, head of digital health, cult.fit.
TREAD, which will continue to function independently, has developed a smart indoor connected fitness bike similar to Peloton but at one-third the price. This value-for-money product for India will have many social features like live workouts, leaderboards to compete with friends, etc. Users can compete with each other and participate in virtual tournaments. They can also enjoy scenic rides in their favorite virtual locations like – beach in Hawaii to the French Riviera Promenade.
"We are glad to be joining cult.fiit as we have a common mission of making fitness fun and easy. 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," added Dinesh Godara, founder, TREAD.
TREAD's hardware IP with cult.fit's digital content and computer vision tech will create an exciting experience for customers. cult.fit will also help TREAD with tech, customer reach, and offline distribution.