Health and fitness app HealthifyMe, operated by HealthifyMe Pte Ltd, on Wednesday said it has secured pre-Series D funding of $30 million (around Rs 247 crore) from a clutch of existing and new investors.
Existing backers LeapFrog Investments, Khosla Ventures, Unilever Ventures, Chiratae Ventures, Blume Ventures and HealthQuad also invested in this round, while Finnish development financier Finnfund and Dutch investment firm Van Lanschot Kempen joined as new investors.
The company has raised a total of $130 million in funding so far. However, it declined to disclose the post-money valuation details following its latest fundraise.
Bengaluru-based HealthifyMe will deploy the fresh proceeds to scale up its AI capabilities, acquiring top-tier talent and expanding global footprints.
HealthifyMe was founded in 2014 by Tushar Vashisht. It is a mobile health and fitness app that combines technology with human services to deliver measurable impact. The company focuses on weight loss as an end goal with a target group of people in their thirties or forties.
It claims to be India and Southeast Asia’s largest digital wellness platform catering to more than 35 million users in over 300 cities.
“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. This funding represents a vote of confidence in a future where everyone can access superior health and fitness outcomes, globally and affordably,” said Vashisht, co-founder and chief executive at HealthifyMe.
Last year, HealthifyMe raised $75 million in a Series C round led by LeapFrog and Khosla Ventures. HealthQuad, Unilever Ventures, and Elm (Saudi Arabia PIF entity) also participated in the round along with existing investors Chiratae Ventures, Inventus Capital and Sistema Asia Capital.
Meanwhile, over the past few years, investments in the broader healthcare space have been on the rise. This trend is expected to continue in the future, given the growing demand for quality healthcare services and the increasing adoption of technology in the country.
The healthtech market in India is expected to reach $5 billion by 2023, growing at a CAGR of 39%, according to a report by KPMG India.
Just last month, medtech distribution platform Genworks Health Pvt Ltd raised $4 million (Rs 32.7 crore) in a funding round from its existing investor BlackSoil Capital.
Prior to that healthtech firm Reveal raised $4 million in its seed funding round from healthcare-focused early-stage venture capital firm W Health Ventures. Also, early this year, Virohan, which offers healthcare-related educational courses and training, raised $7 million in its pre-Series B1 round while in November last year, RedBrick AI bagged $4.6 million in a seed funding round led by Sequoia India.