HealthifyMe raises $75 mn funding from Khosla Ventures, LeapFrog

0 0

HealthifyMe stated its customers have misplaced 20 million kilos of weight, tracked over 1 billion meals and burnt over 66 billion energy understanding on HealthifyMe.

HealthifyMe | fundings | LeapFrog

HealthifyMe, an AI well being and health app, has raised $75 million in a Series C spherical led by LeapFrog and Khosla Ventures. HealthQuad, Unilever Ventures, and Elm (Saudi Arabia PIF entity) additionally participated within the spherical together with present traders Chiratae Ventures, Inventus Capital and Sistema Asia Capital. It takes the entire capital raised by HealthifyMe to over $100 million until now.

The firm will use the funds to develop in India and Southeast Asia, make inroads into North America, in addition to to accumulate related corporations within the digital well being and health house. It may even be investing closely behind its AI-powered HealthifySmart Plans and intends to double its present engineering and design power. It will moreover be hiring senior management members throughout operations, advertising, HR and expertise.

“We are excited to accomplice with Leapfrog, Khosla Ventures and different international traders in our mission to healthify a billion individuals,” stated Tushar Vashisht, Co-founder and CEO, HealthifyMe. “We are already the market leaders in India and Southeast Asia and by combining AI and human empathy, we can deliver results in weight and lifestyle disease management at a fraction of the cost possible today.”

According to WHO, weight problems has doubled because the flip of the century and virtually 40 per cent of all adults globally – 2 billion individuals – are obese or overweight leading to four million deaths per yr. Through the pandemic, the worldwide marketplace for digital well being, weight reduction and situation administration grew quickly as customers continued to care extra for his or her well being, handle their continual circumstances and discover methods to be in form from the consolation of their houses. This has created a number of unicorns within the US, equivalent to Noom, doing lots of of hundreds of thousands of {dollars} in income.

HealthifyMe stayed resilient via the pandemic and has in actual fact doubled its person base and income within the final one yr. It crossed 25 million downloads just lately and is on monitor to hit $50 million ARR (annual recurring income) throughout the subsequent six months – changing into doubtlessly the most important well being & health app outdoors the US and China. HealthifyMe stated its customers have misplaced 20 million kilos of weight, tracked over 1 billion meals and burnt over 66 billion energy understanding on HealthifyMe.

“I’ve been monitoring HealthifyMe for a number of years now. What they’ve achieved in India with their AI teaching resolution at scale is really pioneering for well being and health globally,” stated Vinod Khosla, founding accomplice at Khosla Ventures. “We are excited in regards to the potential as they scale globally – particularly in North America, the place 2 out three adults are obese or overweight.”

While HealthifyMe’s base has been India, it has been increasing internationally and now almost 25 per cent of its revenues come from outdoors India. In a number of markets equivalent to Malaysia, Singapore, HealthifyMe has demonstrated with the ability to localise its providing and set up product-market slot in native populations past Indian expats. It intends to copy the identical in North America within the close to future.

Dr. Biju Mohandas, accomplice at LeapFrog and the agency’s international co-leader for Health Investments, stated investing in prevention and therapy of continual illness and underlying drivers, equivalent to weight problems, has lengthy been a spotlight for LeapFrog’s healthcare workforce. He stated HealthifyMe has created a strong intersection between well being and expertise that may be accessed by 760 million smartphone customers from India’s metropolitan cities to small rural cities. “With our funding targeted on the highly effective synergy of revenue with goal, HealthifyMe will influence hundreds of thousands of extra customers the world over via assist, training, and well being companies at a time when the chance to life has by no means been better.”

Dear Reader,

Business Standard has at all times strived arduous to supply up-to-date info and commentary on developments which can be of curiosity to you and have wider political and financial implications for the nation and the world. Your encouragement and fixed suggestions on the best way to enhance our providing have solely made our resolve and dedication to those beliefs stronger. Even throughout these troublesome instances arising out of Covid-19, we proceed to stay dedicated to retaining you knowledgeable and up to date with credible information, authoritative views and incisive commentary on topical problems with relevance.

We, nevertheless, have a request.

As we battle the financial influence of the pandemic, we’d like your assist much more, in order that we are able to proceed to give you extra high quality content material. Our subscription mannequin has seen an encouraging response from lots of you, who’ve subscribed to our on-line content material. More subscription to our on-line content material can solely assist us obtain the objectives of providing you even higher and extra related content material. We consider in free, honest and credible journalism. Your assist via extra subscriptions may also help us practise the journalism to which we’re dedicated.

Support high quality journalism and subscribe to Business Standard.

Digital Editor

Leave A Reply

Your email address will not be published.