HealthifyMe a bangalore based health and fitness app has raised a funding of $6 million in Series A funding round led by Inventus Capital, IDG Ventures India and Blume Ventures. The funds will be utilize to accelerate growth in india and to develop its digital coaching platform. Their app provides services such as treating and preventing diabetes, clinical obesity and other lifestyle diseases.
HealthifyMe had raised 2 rounds of seed round funding in 2015. In May 2015 it raised funding from Micromax and the second round was led by Angel Investors Sashi Reddi, Gopal Srinivasan, Pallav Nadhani, Dr. Roopa Nath and Amit Gupta. Other fitness platform in competition with HealthifyMe are Fitcircle, Obino and FeetApart. Its chief competitoe is GOQii, a marketplace for virtual fitness coaches, it functions across the fitness arena and had raised a total of $13.4 million.
Tushar Vashist and Sachin Shenoy founded HealthifyMe in 2012. It helps the users to lose wight through their platform. It claimed to have tracked over 25 million indian food so far. The app tracks the user fitness and exercises, then the nutrionists and trainers combine the data and provide them with proper feedback. For their premium service users can also share the photo of their food and schedule a telephonic appointment with their trainers and nutritionist who will then create diet and fitness plans for them and offer them advice for their better health. Users can also access online support community to use social motivation which will help them to stay committed to fitness goals.
HealthifyMe is available on both Android and iOS platform. With 30k users in January 2015 to half a million users today it plans to grow to 5 million users within next 2 years. It claims to have over 500k users on their platform and with 40k employees it had partnered with healthcare partners Medanta and Manipal Hospitals. On a weekly basis it adds upto 30k users.
Tushar Vashisht, CEO and Co-founder at HealthifyMe said
“The unit economics on the business model is extremely strong and that’s one of the key reasons our investors have backed us. We’re completely asset light, unlike players such as VLCC and Talwalkars who have 25-30 per cent costs in real estate, those are non existent for us.”
Sanjay Nath, Managing Partner & Co-founder of Blume Ventures said
“When HealthifyMe started off, everyone thought of it as a GOQii competitor in the sense that the company was focusing on the hardware. I think the company has pivoted and become much larger that that by becoming device agnostic and ultimately empowering Indians.”
Dr. Mithal on HealthifyMe