India’s leading mobile health and fitness platform HealthifyMe announced on February 9, 2018, the close of a US$12 million (€9.8m) Series B round of funding led by Sistema Asia Fund, the India focused fund of Russia’s largest conglomerate.
HealthifyMe intends to use this new funds to enrich its service offering and maintain its leading position in India but also to enter other emerging markets. It also plans to invest in artificial intelligence and data science.
HealthifyMe wants to develop nutritional services, diagnostics and insurance
Samsung NEXT (Silicon Valley), Atlas Asset Management (Singapore) and Dream Incubator (Japan) also participated in the round of funding alongside existing investors IDG Ventures India, Inventus Capital (US-India), Blume Ventures and NB Ventures (Dubai).
With this fresh round, HealthifyMe intends to strengthen its presence in India by offering health foods, diagnostics and insurance products beyond its digital nutrition and fitness services portfolio.
A global development
The Indian company also hopes to enter other emerging markets. It recently launched in the Gulf Cooperation Countries market. Its application is already in the top 3 on Google Play in the United Arab Emirates.
A keen interest in the AI and data science
The firm plans to use the funds to further its artificial intelligence and data science capabilities.
IA: HealthifyMe launched Ria, the world’s first nutritionist robot
200 million data tracked in 2017
The Indian company claims to hold the world’s largest database of Indian foods.
Last year, its users have tracked 200 million foods, workouts and exchanged 10 million messages with their nutritionists and trainers. In late 2017, HealthifyMe launched Ria, the world’s first AI nutritionist, which is now guiding its paying consumers alongside human nutritionists and trainers.
« Ria will have a game changing effect on fitness/nutrition access to Indians »
« Our vision is to build the world’s largest online health and fitness service, » said Tushar Vashisht, CEO of HealthifyMe (source: Businessworld.in). « We want to help millions of consumers achieve their goals by engaging with nutritionists and other health experts empowered with Artificial Intelligence. [This] funding will help us to launch in other emerging markets where obesity and lifestyle diseases are growing exponentially. (…) »
HealthifyMe: a fitness app, a workplace wellness program and a digital partner
HealthifyMe was co-founded in 2012 by Tushar Vashisht and Sachin Shenoy, who worked previously at the Unique Identification Authority of India (a statutory authority established under the provisions of the Aadhaar and founded by the Government of India), Deutsche Bank and across India and Silicon Valley, USA.
The app enables users to keep a track of their calories, set personal fitness goals and measure progress. It is available to download for free and can be synced with all leading wearables, Google Fit and Apple Health.
Subscription services for a personalized support
As part of its subscription services, HealthifyMe connects users with qualified nutritionists and trainers who review their progress, provide them with diet and exercise plans, and help them achieve their fitness goals.
A digital workplace wellness program
The Indian company has also implemented a digital workplace wellness program and has worked with clients like Cognizant (USA), Procter & Gamble (USA), Accenture (Ireland), Philips (Netherlands), Unilever (England and the Netherlands) and Shell (England and Netherlands).
The firm works as a digital and preventative partner for healthcare providers in India such as multi-speciality hospital Medanta (Delhi), the Apollo Center for Obesity, Diabetes and Endocrinology (New Delhi) and Manipal Hospital (Karnataka, South West India).
The company had setup its global headquarters in Singapore in 2016
In early 2016, HealthifyMe had setup its global headquarters in Singapore and received Series A funding of US$6 million (€4.9m) led by IDG Ventures India, Inventus Capital, Blume Ventures and NB Ventures.