HealthifyMe raises $12 million in Series B round of funding

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HealthifyMe raises $12 million in Series B round of fundingMobile health and fitness platform HealthifyMe has raised $12 million (Rs 77.2 crore) in a Series B round of funding led by Sistema Asia Fund, the India focused fund of the Russia based conglomerate.

Silicon Valley-based Samsung NEXT, Singapore based Atlas Asset Management and Japan-based Dream Incubator have participated alongside existing investors IDG Ventures India, Inventus Capital, Blume Ventures, and Dubai based NB Ventures.

The investment will be used to further strengthen the company’s AI capabilities, expand India offerings and to launch in other emerging markets. The company is looking to offer health foods, diagnostics and insurance products beyond its digital nutrition and fitness services in India. This is Samsung NEXT Ventures’ first investment in India.

“This year we will experiment with food, diagnostics, and insurance. We have a million monthly active users in India. Our AI nutritionist Ria is handling 77% of all human queries. It has been a great leverage. We have launched our product outside India too. We get around 30% of our revenues from there– South-east Asia, North America,” said Tushar Vashisht, CEO, HealthifyMe.

The HealthifyMe app enables users to keep a track of their calories, set personal fitness goals and measure progress. As part of its subscription services, HealthifyMe connects users with qualified nutritionists and trainers who review their progress, provide diet and exercise plans and work with the users to help them achieve their fitness goals. The platform has 200 nutritionists to guide its users.

The company also launched artificial intelligence based nutritionist ‘Ria’ recently.

According to Vashisht, HealthifyMe has around a million monthly active users and has an annualised run rate of $4.5 million. The app has also tracked 200 million foods and has exchanged 10 million messages between nutritionists and trainers.

“We are strong believers in preventive healthcare. People all over the world associate healthcare mostly with disease treatment, but ideally healthcare should prevent diseases. HealthifyMe team is disrupting this vitally important sector with its technology platform,” said Kirill Kozhevnikov, Managing Director, Sistema Asia Fund Advisory.

HealthifyMe also has curated a digital workplace wellness program and has worked with clients such as P&G, Unilever, Accenture, Cognizant, Shell, Philips, among others. The company had earlier raised a Series A funding of $6 million led by IDG Ventures India, Inventus Capital, Blume Ventures and NB Ventures.

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