India’s leading mobile health and fitness platform, HealthifyMe has closed $12M Series B round of funding led by Sistema Asia Fund, the India focused fund of Russia’s largest Conglomerate.
Silicon Valley based Samsung NEXT, Singapore’s Atlas Asset Management and Japan’s Dream Incubator are the other participants in the latest round of funding alongside existing investors IDG Ventures India, Inventus Capital, Blume Ventures and Dubai based NB Ventures.
HealthifyMe has grown 3.5 times in 2017 to 4 million users, spread to 200+ cities, and is booking $4.5 million in ARR (Annualized Run Rate) revenue. With more than a million monthly active users, HealthifyMe enjoys about 10% of the Indian market share in the health/fitness category as per AppAnnie.
HealthifyMe users have tracked 200 million foods, workouts and exchanged 10 million messages with their nutritionists and trainers. Learning from this, HealthifyMe launched the world’s first AI nutritionist “Ria” in late 2017, which is now guiding its paying consumers alongside human nutritionists and trainers. The HealthifyMe app itself has also become the highest rated app on Google Play in India achieving a rating of 4.6 and Google’s Best app of 2017 recognition – third year running.
HealthifyMe intends to use this fresh round of funding to deepen its presence in India by offering health foods, diagnostics and insurance products beyond its digital nutrition/fitness services portfolio.
HealthifyMe also hopes to enter other emerging markets. The company recently launched in the GCC (Gulf Cooperation Countries) market and is already in the top 3 on Google Play, UAE. Additionally the company intends to use the funds to further its AI and Data Science capabilities.
Tushar Vashisht, CEO, HealthifyMe said, “We are already India’s go-to health app, this funding will help us to launch in other emerging markets where obesity and lifestyle diseases are growing exponentially. It will also help us expand our offerings portfolio to affiliated products and services that our customers need.”
Kirill Kozhevnikov, MD and Partner, Sistema Asia Fund Advisory said, “HealthifyMe team is disrupting this vitally important sector with its technology platform, transforming everyday behavior of people, and measurably making them healthier. We are happy to back the company in its mission.”
“HealthifyMe is the leading digital health app in India, and a very compelling mix of both human and machine intelligence. Its network of coaches helps users stick to their diet and fitness plans, the AI they have developed helps the coaches be more efficient”, said Amit Garg, Principal at Samsung NEXT Ventures.
HealthifyMe was co-founded by Tushar Vashisht and Sachin Shenoy who worked previously at UIDAI (Aadhar, Govt of India), Deutsche Bank and Google across India and Silicon Valley. The HealthifyMe app is available to download for free and enables users to keep a track of their calories, set personal fitness goals and measure progress.
In early 2016, HealthifyMe had setup its global headquarter in Singapore and received Series A funding of US$6 million led by IDG Ventures India, Inventus Capital, Blume Ventures and NB Ventures.