India’s HealthifyMe raises $30m
LeapFrog Investments and Khosla Ventures have led a USD 30m pre-Series D round for India-based mobile health and fitness app HealthifyMe.
Chiratae Ventures, Blume Ventures. HealthQuad, and Unilever Ventures also participated, as did Finnish development financial institution FinnFund and Dutch asset manager Kempen Capital. The capital was raised as a convertible note pegged to the next round and thus without setting valuations, according to The Times of India.
It brings the total capital raised since the company’s inception in 2012 to USD 130m. This includes a USD 75m Series C led by LeapFrog and Khosla in 2021 that also featured Chiratae, HealthQuad, Unilever, Inventus Capital, Sistema Asia Fund, and Elm, a unit of Saudi Arabia’s Public Investment Fund (PIF).
HealthifyMe is positioned as India’s and Southeast Asia’s largest digital wellness platform. It caters to more than 35m users in more than 300 cities with more than 1,500 coaches. There are around 300 employees across physical bases in Bangalore, Kuala Lumpur, and Singapore.
The business offers subscription-based coaching plans for weight loss and disease reversal. It is best known for artificial intelligence (AI)-human hybrid plans that focus on eating habits, fitness, and weight monitoring. There is also an AI-only solution said to be the only one of its kind to deliver empirically proven results at scale.
The latest funding is expected to support the development of Ria, a virtual nutritionist that uses generate AI. This is hoped to help personalize the service.
“We have already demonstrated how blending human coaching and AI, enriched with users' health data, can transform millions of lives. Now, with generative AI, we're supercharging our mission to healthify a billion people,” HealthifyMe CEO Tushar Vashisht said. “We're spearheading this revolution.”
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