Fitness app HealthifyMe raises Rs 40 crore from IDG Ventures, Inventus Capital & Blume

HealthifyMe, which runs the fitness and health app HealthifyMe, has actually raised $6 million (about Rs 40 crore) in a Series-A round led by IDG Ventures India, Inventus Capital and Blume Ventures.

Tushar Vashisht, CEO of HealthifyMe, told ET that the funds will be utilized for the company's expansion and collaboration plan and to further develop the digital fitness training platform. Last year, the company had actually gotten pre-series funds in two rounds from handset maker Micromax and a group of angel investors. The app permits users to keep track of their diet, plan workouts and ask health related concerns on a platform that includes nutritional experts and dieticians.

ENHANCING REACH

The company said it will also focus on increasing its reach to corporate for its corporate wellness program, which engages employees through a gamified, social platform that rewards workers for healthy behavior.

Vashisht said that while growth and scaling continue to be the company's focus areas, development from the customer channel is default and self-fueled.

"But the other 2 locations that are emerging to be huge companies require for us are partnership with corporate and healthcare facilities," Vashisht stated. HealthifyMe works in partnership with health institutes such as Medanta, Apollo and Manipal, and corporate such as Philips, Cognizant and Unilever. It plans to increase the number of partners to 500.

The company, which started with sewing together nutritional data from an excel sheet to building it into an app, declares it has grown to 5, 00,000 users in 2016 from 10,000 in 2013. The basic service of accounting calorie intake is free on the app, while premium services that consist of nutrition suggestions, devoted trainer support and social engagement with others in fitness communities come at a premium varying from Rs 800 each month to approximately Rs 1,299 a month.

MADE FOR INDIA

"A a great deal of individuals in India lead a sedentary lifestyle, leaving a huge opportunity to deliver services for health, nutrition and fitness at scale and our team believe HealthifyMe is a significant gamer because space," said Rutvik Doshi, director, Inventus Capital.

IDG Ventures and Inventus Capital likewise purchased a round of funding for Bengaluru-based ecommerce product discovery platform Unbxd. Inventus Capital was also a part of a Series a round raised for gamification startup Knolscape. Early-stage innovation financier Blume Ventures has actually just recently taken part in financing rounds for edtech app Prepathon, online wedding event shopping portal Wedding Brigade, marketing platform for regional retailers m. Paani and contact management app InTouchApp, to name a few.

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Tushar Vashisht, CEO of HealthifyMe

May 31,2016 6:09:pm

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Tushar Vashisht, CEO of HealthifyMe

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