09 February 2018, India:
HealthifyMe has raised $12 million (about ₹77 crore) in the round of Series B funding. The funding round was led by Sistema Asia Fund.
Samsung Next, Atlas Asset Management, Dream Incubator and existing investors IDG Ventures India, Inventus Capital, Blume Ventures and NB Ventures also participated in the funding round.
RainMaker Group was the advisor to the transaction.
HealthifyMe will use the fresh capital to deepen its presence in India by offering health foods, diagnostics, and insurance products, beyond its digital nutrition, healthcare and fitness services platform.
“Our vision is to build the world’s largest online health and fitness service. We want to help millions of consumers achieve their goals by engaging with nutritionists and other health experts empowered with Artificial Intelligence. “Ria” our AI nutritionist that we introduced last quarter will have a game changing effect on fitness/nutrition access to Indians,” said Tushar Vashisht, CEO, HealthifyMe.
Vashisht added, “We are already India’s go-to health app, this funding will help us to launch in other emerging markets where obesity and lifestyle diseases are growing exponentially. It will also help us expand our offerings portfolio to affiliated products and services that our customers need,”
“We are strong believers in preventive healthcare. People all over the world associate healthcare mostly with disease treatment, but ideally healthcare should prevent diseases. HealthifyMe team is disrupting this vitally important sector with its technology platform, transforming everyday behavior of people, and measurably making them healthier. We are happy to back the company in its mission,” said Kirill Kozhevnikov, MD and Partner, Sistema Asia Fund Advisory.
“HealthifyMe is the leading digital health app in India, and a very compelling mix of both human and machine intelligence. Its network of coaches helps users stick to their diet and fitness plans, the AI they have developed helps the coaches be more efficient”, said Amit Garg, Principal at Samsung NEXT Ventures.
Amit added, “We were also impressed with the sheer amount of data the company has gathered, including the database of Indian foods.”
HealthifyMe was founded by Tushar Vashist and Sachin Shenoy in 2012. It is a mobile health and fitness app that combines the power of technology with real human services to deliver measurable impact.
(Image – digit)