Online fitness services provider HealthifyMe has raised $12 million in a Series B round of funding led by Sistema Asia Fund, with participation from Silicon Valley-based Samsung NEXT, Singapore’s Atlas Asset Management and Japan’s Dream Incubator. Existing investors IDG Ventures India, Inventus Capital, Blume Ventures and Dubai-based NB Ventures also participated in this round.
The funds will be used to grow its suite of services, including offering health foods, diagnostics and insurance products, plus it will be investing in further improving its AI and data science capabilities. The company is also planning to enter other emerging markets. Note that HealthifyMe has already launched its services in the Gulf Cooperation Council (GCC) countries – Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, and Oman.
In the previous quarter, the company had launched an AI-based nutritionist dubbed ‘Ria’ for its paid subscribers, which operates alongside human nutritionists and trainers on the platform. The company claims to have 4 million registered users, of which 1 million are monthly active users. HealthifyMe also claims that users have thus far exchanged 10 million messages with the nutritionists and trainers on the platform.
May 2016: The company had raised $6 million from IDG Ventures India, Inventus Capital and Blume Ventures. It planned to use the funds for improving its technology and product, as well as hiring engineers and making strategic acquisitions.
June 2015: It raised an undisclosed amount of funding from various angel investors. HealthifyMe used the funds to set up its global headquarters in Singapore and to hire over 1,000 nutritionists and fitness trainers.
May 2015: The company raised an undisclosed amount of funding from Micromax.
Besides individual users, HealthifyMe also works with companies and healthcare centres. Companies can tie-up with HealthifyMe to offer its employees diet plans, workout coaching and more. It also offers on-campus activities. The company has already worked with the likes of P&G, Unilever, Accenture, Cognizant, Shell, and Philips among others. Similarly, healthcare centres, including individual physicians can tie-up with HealthifyMe to offer additional services to their patients. HealthifyMe works as a digital preventive healthcare partner with Medanta, Manipal, Apollo ACODE, and others.