Micromax kicks off ecosystem plan with app investment
Micromax said it had invested in Bengaluru-based digital fitness app HealthifyMe
Mobile phone manufacturing company Micromax on Thursday said it had invested in Bengaluru-based digital fitness app HealthifyMe. The company did not disclose the investment amount but said the move was part of its plan to build an ecosystem for mobiles by tying up with start-ups that provide innovative services.
The HealthifyMe app keeps track of fitness and nutrition needs of consumers and helps manage their weight better. As part of its premium services, it offers in-app advice from nutritionists, fitness trainers and yoga experts.
Micromax has also set up a mergers and acquisition team headed by Kumar Shah. The team has been working with start-ups in India and across major technology markets such as the US, Europe and Israel to bring in the best products and capabilities, the company said.
“The world is moving to smart devices, and through these strategic investments, we are ensuring that our consumers enjoy services that enrich their experience,” said Rahul Sharma, co-founder, Micromax. “We believe that India’s preventive healthcare needs transformational technologies. With our investment in HealthifyMe, we aim to create a technology platform to address consumers’ wellness needs,” he added.
“We are on a mission to Healthify India and are excited to partner with Micromax, looking at the possibilities they bring to the table. Together, we will help our customers eat better, get fitter and fight lifestyle issues effectively,” said Tushar Vashisht, co-founder and chief executive officer, HealthifyMe.
Micromax is also looking to raise more capital to develop locally focused software to complement mobile phones, a Bloomberg report said in March. This complements its larger vision of creating a mobile ecosystem in the world’s second largest market, where it commands a 14% market share, the report said.
The company sells over 60 models of phones, tablets, LED televisions and data cards.