With the funds, BeatO plans to scale its digital platform and invest in its product, technology and leadership
It aims to serve more than 1 Cr patients by 2025, up from 15 Lakh in 2022
So far, the startup has raised nearly $49 Mn in equity and INR 18 Cr in debt since its launch in 2015
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Delhi NCR-based startup BeatO, which offers a digital care platform for controlling and reversing diabetes, has raised $33 Mn led by Lightrock India with participation from Flipkart Ventures and Healthquad, among others.
With the Series B funding round, BeatO plans to scale its digital platform, invest in its product, technology and leadership and strengthen the reach of its care programs across the country.
The seven-year-old startup was launched by Gautam Chopra, Yash Sehgal, Kunal Kinalekar (who joined in 2018) and Abhishek Kumar (who has now exited the company) to offer a digital care ecosystem for the management of chronic diseases, especially diabetes.
It offers glucose-monitoring solutions (the smartphone-connected glucometers work in unison with the BeatO app to provide personalised insights) and diabetes-specific products such as snacks, speciality food and footwear. BeatO also has a marketplace of doctors, educators, diagnostics, nutritionists, medicines refills and insurance products.
Its diabetes prevention, control and reversal programmes have been published by institutions such as the American Diabetes Association (ADA) and Advanced Technologies and Treatment for Diabetes (ATTD).
It is currently serving 15 Lakh+ members and claims to have grown 3x over the year. BeatO has also partnered with several players in the insurance and pharmaceutical sectors to drive large-scale impact across the country. It aims to serve more than 1 Cr patients by 2025.
The current round comes shortly after BeatO raised INR 18 Cr in debt from Alteria Capital. Including the current Series B round, the startup has raised nearly $49 Mn in equity from PharmEasy, Merisis Venture, Orios, Leo Capital and others. Last year, BeatO also acquired diabetes reversal firm Novique Health.
As healthtech startups witness a surge in demand for telemedicine, video consultation and remote patient monitoring services, the country’s healthtech segment is likely to be a $21 Bn worth of market by 2025.
Within the market, BeatO compares with the likes of Phablecare, Feetwings, Fitterfly, Even and more.
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