Health Arx Technologies Pvt Ltd, which owns a diabetes management app BeatO, has now secured Rs 11.75 crore as a part of its funding round Series A from some of the new and existing investors.
The new investors who joined are Orios Venture Partners and existing investor Blume Ventures and Leo Capital
The funds will be going to be used to increase user base and revenues besides expanding the product line for flagship retail and glucometer categories. Some part of the funds will be used for R&D and product development.
“A diabetic consumer spends more than $1,000 across different aspects of their medical care and lifestyle in a year. This is currently a broken experience with multiple suppliers that don’t talk to each other or the user on a common platform,” Anup Jain, managing partner at Orios Venture Partners, said.
Just before this, BeatO has secured $1.3 Million in the funding round which is led by the Leo Capital and Blume Ventures.
BeatO which was founded by the Abhishek Kumar, Gautam Chopra and Yash Sehgal in the year 2015. It offers a comprehensive diabetes management and care platform with its glucose monitoring solutions.
It also provides with the diabetes-specific products such as the snacks, besides a marketplace for educators, doctors, medicine refill,, and insurance products.
Picture Credits: BeatO