11 May 2016, BENGALURU: Mobile app, HealthifyMe said on Tuesday that the company had raised $6 million (estimated to Rs. 40 crore) after Series A round of funding from its investors – IDG Ventures India, Inventus Capital Partners and Blume Ventures.
The company said that this capital will help the company to reach 5 million users in next two years and reach out 500 healthcare and corporate sectors for further development of digital coaching platform. This platform will enable users to connect with several fitness centres through the app. Within a year, the company also company managed to achieve 5 lakh users in January 2015 from 30,000 users.
According to sources and reports by Business Standard, CEO and co-founder at HealthifyMe, Tushar Vashisht said, “The unit economics on this business model is strong. Thus, it is one of the key reasons our investors have backed us. We’re completely asset light, unlike players such as Talwalkars and VLCC who have 25-30 per cent costs in real estate, those are non-existent for us”.
The app which was founded in 2012 by Tushar Vashisht and Sachin Shenoy. This start-up, which is operated by Caeruz Ventures Pvt. Ltd. is a calorimeter that allows end-users to meet their weight loss and fitness goals from their computers and smartphones. Few features of the app are free. However, in case of advanced feature requirements, certain amount of fee is charged. The app is currently available on Android phones and iOS.