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Diabetes monitoring platform BeatO raises debt from Alteria

Healthtech startup BeatO raises Rs 18 crore debt from Alteria Capital in its Series B round making it the second financing round of this year.

The board at BeatO has passed a special resolution to 1,800 Series B non-convertible debentures (NCDs) at an issue price of Rs 1,00,000 per security to raise Rs 18 crore or $2.3 million.

Founded by Gautam Chopra, Yash Sehgal, and Abhishek Kumar, BeatO provides a full-stack diabetes management programme that helps the user manage exercising, diet, medicine intake, and diagnosis, and connects the users with doctors and diabetes educators for instant real-time guidance.

The startup claims to have 300,000 paid members on its platform, adding 25,000 members every month. According to Sensor Tower data, BeatO has 1.55 million downloads in its lifetime with almost half of it coming in the past year.

Delhi-based BeatO also raised Rs 27 crore debt in April this year. The financing round was led by existing backers W Health Global LLC followed by Kotak Investments and Sage Hill Investors. PharmEasy also made a strategic investment in the company in July last year with intention to build new products for chronic diseases jointly. While the company doesn’t have any direct competition in India, MDacne and Mydiabby Senetc are its global peers.

While BeatO is yet to file its financial numbers for FY22, its revenue from operations surged 2X to Rs 7.97 crore from Rs 4 crore in FY20. As per its annual financial statements with the RoC, losses of the startup increased 33% to Rs 15.24 crore in FY21 from Rs 11.45 crore during FY20.

About BeatO

BeatO is a digital health ecosystem that makes the management of diabetes and other chronic conditions such as hypertension accessible and affordable.

When was BeatO founded?

BeatO was founded in 2015.

Who is the founder of BeatO?

Gautam Chopra is the founder and ceo of BeatO. With an MBA from the prestigious ISB, Hyderabad, and 6 years of international experience in business strategy, Gautam wanted to do something for the people of his country. In 2015, he quit his job as Head of Business Development & Sales Steering at Lufthansa, in Brussels, moved back to India, and began his entrepreneurial journey by starting BeatO along with his school-time friend Yash Sehgal.

Is BeatO hiring?

BeatO is hiring multiple positions like PPC Expert, and PHP Technical Lead.

What is the team size of BeatO?

As per the popular social media site LinkedIn, BeatO has 201 employees.

Where is the head office of BeatO?

BeatO is located in FIEE Complex, A-9, Ground & 3rd Floor, near C Lal Chowk, Okhla Phase II, New Delhi, Delhi 110020.

How much is the revenue of BeatO?

BeatO claims to have 500,000 app installs overall and 300,000 subscribers, with 25,000 such paying members joining every month. Revenue has grown by 600% in the last year, claims BeatO with an annual gross revenue rate of INR 70 Cr.

BeatO seems to be a fascinating startup with a motivating turn of events on wellness and fitness services platform. My best wishes to the entire team. This will give them a huge accomplishment in the future.

Shishir Gupta, Founder and CEO, StartupLanes

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