HealthifyMe receives $6 mn from IDG, others1 min read . Updated: 11 May 2016, 01:49 AM IST
HealthifyMe says it will use the funds to reach 5 million users and 500 corporate and healthcare partners
Mobile health and fitness start-up HealthifyMe, run by Caeruz Ventures Pvt. Ltd, on Tuesday said it has raised $6 million in series A funding led by IDG Ventures India, Inventus Capital and Blume Ventures.
The funding comes just a year after the company announced the seed round led by angel investors and Micromax Informatics Ltd.
HealthifyMe said it will use the fresh funds to reach 5 million users and 500 corporate and healthcare partners, in addition to further developing its digital coaching platform.
Within a year, HealthifyMe said, it has scaled from 30,000 users in January 2015 to being the largest app in the space with 500,000 users across Android and iOS.
The company uses technology and human services to target weight-loss and claims that its programmes are effective in the prevention of lifestyle diseases such as diabetes and hypertension.
“While we are already the leading app for health/fitness in India, our aim is to be the best in the world and we will continue to invest heavily in our technology and product," said Tushar Vashisht, chief executive officer at HealthifyMe.
The company partners with medical institutions such as Medanta The Medicity, Apollo ACODE and Manipal Hospitals, where its mobile application has proven to be effective in treating and preventing obesity, diabetes, cardiovascular problems and other lifestyle diseases.
The consumer healthcare sector in the country has received about $338 million in investments since 2009, with a considerable portion—about $159 million—going to start-ups that offer healthcare delivery solutions for doctors, according to a report on consumer healthcare start-ups by start-up data analytics firm Tracxn Technologies Pvt. Ltd
Start-ups in doctor appointment booking (such as Practo Technologies Pvt. Ltd) have raised the highest amount—about $130 million—followed by pharmacy start-ups (such as 1mg Technologies Pvt. Ltd) with raised $101 million and home healthcare start-ups (such as Portea Medical, run by HealthVista India Pvt. Ltd) with $50 million.
“Fitness, especially fitness centre marketplace and membership pass, which allows users to access multiple fitness centres with a single pass, are most emerging sectors in the industry," said the Tracxn report.