India's HealthifyMe gets $12m Series B

US-based Samsung Next Ventures, Singapore’s Atlas Asset Management, and Japan’s Dream Incubator also participated alongside existing investors IDG Ventures India, Inventus Capital, Blume Ventures, and NB Ventures. The capital will drive expansion into new markets including health foods, diagnostics, and insurance products.

"People all over the world associate healthcare mostly with disease treatment, but ideally healthcare should prevent diseases,” Kirill Kozhevnikov, a managing director and partner at Sistema Asia Fund, said in a statement. “The HealthifyMe team is disrupting this vitally important sector with its technology platform, transforming everyday behavior of people, and measurably making them healthier.”

Founded in 2012, HealthifyMe combines artificial intelligence (AI) technology with personalized coaching by nutritionists and trainers to provide diet and exercise advice to a mobile user base of some four million people. The company claims to have tripled its number of customers during 2017 and generated revenue of $4.5 million. Services also include digital workplace wellness program curation for corporate clients including Shell and Philips.

HealthifyMe’s expansion into health food supply will be supported by earlier work developing an AI nutritionist known as Ria. Amit Garg, a principal at Samsung Next, said the company had the largest database of Indian foods with over 50,000 recipes, giving it a huge advantage in the local market. Geographic expansion has recently included a push in the Middle East, including a strong presence in the United Arab Emirates.

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• Topics
• South Asia
• Technology
• Healthcare
• Early-stage
• India
• IDG Ventures
• Blume Ventures
• TMT