Sunday, June 23

Fitness App HealthifyMe Raises $1 Million Funding

Fitness app HealthifyMe has raised $1 million (Rs 6.7 crores) from Dubai-based investor Neelesh Bhatnagar whose company NB Ventures has been actively investing in Indian startups, the company said in a statement.

Founded in 2012 by Tushar Vashisht, Mathew Cherian and Sachin Shenoy, HealthifyMe claims to be the first app to introduce calorie tracking of Indian dishes. The company delivers measurable results on eating habits, fitness, and weight. With over 200 employees, it has physical presence in Bangalore, Delhi, Mumbai and Chennai within India.

The app has crossed the one million download mark on the Google PlayStore, and is also available on the App Store.

“I am keen on investing in emerging digital first Indian startups that have the ability to expand internationally with an asset-light approach. I look forward to helping HealthifyMe expand to the Middle East at the right time,” said Neelesh.

Caeruz Ventures Pvt Ltd, which runs HealthifyMe, raised $6 million in a Series A round led by IDG Ventures, Inventus Capital and Blume Ventures earlier this year. In June 2015, HealthifyMe had raised an undisclosed amount in pre-Series A funding from handset maker Micromax. For its angel funding, the company raised $250,000 in 2012.

Earlier this month, Delhi-based online fitness marketplace Fitpass secured $1 million (Rs 6.7 crore) in seed funding from Mumbai Angels and a clutch of angel investors from Delhi and Bengaluru. The startup provides users access to fitness studios.