Friday, June 21

Fitness Platform Healthifyme raises $12 Million in Series B Funding

Healthifyme, an Indian digital weight loss platform has announced its $12 Million Series B funding round by Sistema Asia Fund, with the venture also becoming the member of company’s board.

Healthifyme that claims to have 4 million users also had Silicon Valley-based Samsung Next, Singapore’s Atlas Asset Management, and Japan’s Dream Incubator as investors in the funding round.

Previously in  May 2016, it raised $6 million in Series A funding from IDG Ventures India, Inventus Capital and Blume Ventures. In 2015, the company raised an undisclosed amount in Series A funding from independent links.

The recent Series Funding B transaction is believed to be the outcome of advise by RainMaker Group in October 2017.

The Bengaluru based startup was found in 2012 by Tushar Vashisht, Mathew Cherian and Sachin Shenoy. The online health tracking website claims to the first ever platform of its kind in India. Its existing investors which include IDG Ventures India, Inventus Capital, Blume Ventures and the Dubai-based NB Ventures also participated in the latest funding round.

The Co-founder Tushar Vashist hopes to expand the business in the near future,

Our vision is to build the world’s largest online health and fitness service. This funding will further help us in expanding our offerings to affiliated products and services that our customers need.”

Healthifyme is a weight loss platform that provides Calorie Tracking, water tracking and on-the-cloud fitness coaching. Its application is available for both iOS and android users. The application works in a dynamic way by keeping eye on the meals of the customer and provide automated fitness plans based on the body metrics and individual health. Along with technology, the startup also makes use of trainers, nutritionists and yoga instructors to help people reach their body goals.

In 2017, Healthifyme launched ‘Ria’ the worlds first Al Nutritionist.

Speaking about the funding Kirill Kozhevnikov, MD, and Partner, Sistema Asia Fund Advisory said, “We are strong believers in preventive healthcare.  Healthifyme team is disrupting this vitally important sector with its technology platform, transforming the everyday behaviour of people, and measurably making them healthier.”