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WHEN HealthifyMe RAISED $12 MILLION OF FUNDING

HealthifyMe which is a Bengaluru based Mobile health and fitness platform, in its series B round of funding has managed to raise $12 million (INR 77.2 crore) by investors Sistema Asia Fund, which is an India focused fund of the Russia based conglomerate. In the company’s this series of funding also saw participation from investors such as Atlas Asset Management (Singapore based), Samsung NEXT (Silicon Valley-based) as well as Dream Incubator (Japan-based) along with their already existing investors that include Dubai based NB Ventures, Inventus Capital, IDG Ventures India, and Blume Ventures.

The company plans to use these newly acquired resources for its expansion of offerings in India and to launch itself in other emerging markets. The company is also planning to improve its AI capabilities and offer better health foods as well as diagnostics and insurance products in India.

Talking of this, Tushar Vashisht, the CEO of HealthifyMe said in a statement, “This year we will experiment will food, diagnostics, and insurance. We have a million monthly active users in India. Our AI nutritionist Ria is handling 77% of all human queries. It has been great leverage. We have launched our product outside India too. We get around 30% of our revenues from there– South-east Asia, North America”.

HealthifyMe was founded by Sachin Shenoy, Mathew Cherian, and Tushar Vashisht in January 2012 and is based out of Bangalore, India. It is a digital health and fitness platform, developed for both Android and iOS which helps in providing services such as diet and workout plans, one-on-one fitness and nutrition coaching, and calorie tracking.

The CEO and founder of StartupLanes, Shishir Gupta says, “The investment made in HealthifyMe will help the company take big leaps. The well-planned utilization of the funds by the hard-working people of HealthifyMe will enable it to climb to the top of health and fitness companies in India. I wish them all the best.”

The improvement of HealthifyMe will promote healthcare, fitness, and wellness in India which is the need of the hour.

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