10-07-2022: The Mumbai based diabetic and digital therapy startup wants to take its healing touch farther and wider with the latest round of Funding.
Fitterfly becomes the latest healthtech from the blazing-hot Indian startup ecosystem to raise Series A Funding, garnering $12 million in a round spearheaded by Amazon Smbhav Venture Fund and Fireside Ventures. The other participants in the Round featured 9 Unicorns, Venture Catalysts, Nihar Parikh of 4point0 Health Ventures, and Sriram Natarajan of Molbio.
In this connection, it is pertinent to note that the diabetes care and digital therapeutics platform had raised $3.1 million in a pre-Series A round last April. The recent development takes Fitterfly’s kitty to $16.6 million.
“We want to take our clinically-proven diabetes and weight management system to the people who need it the most”, articulated the company CEO and Co-Founder Dr Arbinder Singal to mark the happy moment.
According to the Fitterfly leadership, the fresh capital will be harnessed to tune-up technology frameworks, brand quotient and the reach of Diabefly – the company’s diabetes management digital therapeutics programme.
Addressing the media, Dr Arbinder Singal (CEO and Co-Founder) said… “This funding will help us strengthen our research, launch new verticals in the heart health space and grow our customer base by reaching out to people living with diabetes as well as the universe of doctors and organisations in the field of chronic disease management”.
Incidentally, this is Amazon Smbhav Venture Fund’s first healthtech investment in India. The e-commerce leader has gone on record saying that it has earmarked a $250 million fund to nurture small businesses. “I have known Arbinder for more than a decade and his experience as a doctor and a serial entrepreneur is very meaningful for building an impactful global company,” said Kanwaljit Singh, Founder and Managing Partner, Fireside Ventures.
Fitterfly was founded in 2016 by Dr Arbinder Singal and Shailesh Gupta and has carved a niche in the domain with its personalised digital therapeutics programmes (for diabetes, pregnancy, PCOS, and obesity that measurably lift health outcomes), 360-degree care approach and clinically prescribed therapy administered by over 200 doctors spread across the length and breadth of India. The organization has managed over 20,000 patients till date, according to company sources.
*This press release is published by VOH team.*
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