The Bangalore-based cure.fit, a health and fitness company, quietly acquired a US-based fitness startup, Onyx, for an undisclosed amount. Cure.fit aims to integrate Onyx’s body tracking technology to provide personalized coaching in its services like live.fit, care.fit, mind.fit, and more.
Cure.fit has secured over $400 million funding across nine rounds recently and is busy spending the money on capacity building. Onyx is the company’s seventh acquisition after acquiring Rejoov, Fitness First India, Seraniti, Kristys Kitchen, a1000yoga, among others.
The global digital fitness market may reach $59.2 billion by 2027, growing at a CAGR of 33.1 percent. Indian market is also likely to reach $2.15 million in 2021 and grow at a CAGR of 2.7 percent to become worth $2.33 billion by 2024, as per Statista. During this time, Cure.fit is undoubtedly making a statement by acquiring an off-shore startup that points towards their international business aspirations.
The acquisition will also strengthen the cure.fit’s at-home fitness solutions that currently not at par with their live-training sessions offered at their centers. Hence, cure.fit will use Onyx’s AI platform, which provides human-like personalized guidance in various fields, from physical and mental wellness to nutrition. The platform tracks motion without wearables, eliminating the need for visiting gyms/centers. Onyx’s AI platform also gives trainers the ability to coach a larger audience without physically interacting with them.
“The 20s will be the decade of digital health. Onyx will accelerate our efforts towards building a hardware-agnostic AI-led platform that offers guided content on physical and mental wellness and nutrition all at the same place. Users will get a personalized experience with high-quality tech and human touch, and will be able to achieve their fitness goals from the comfort of their homes without spending on expensive hardware,” Mukesh Bansal, co-founder at Cure.fit said.
Cure.fit currently uses its energy-meter tech, where the phone camera tracks users’ movements as they try to follow guided content from trainers. Adding Onyx’s real-time analysis, cure.fit can improve the personalized measurement element of its platform. The platform can also judge users’ performance, correct issues with the form, and offer properly timed motivations, just like a human coach. This will allow the company to expand the range of tracked activities to include dance and yoga and fast-paced activities like high-intensity interval training while accurately gauging a user’s compliance with proper forms and pacing.
Onyx claims it has “the world’s first 3D motion capture system on your phone” and says it’s capable of tracking “nearly any exercise,” from squats to planks, push-ups, kicks, running, and jumping. A user can place a smartphone in a location capable of capturing the full body during exercise; the app then uses computer vision to render the user as a silhouette while automatically comparing limb and torso motions against ideal representations.
“High accuracy body tracking combined with studio-quality content, will help us create a very differentiated experience for our users,” said Asaf Avidan Antonir, Co-founder of Onyx.