Fitterfly Raises $12 Mn To Launch New Verticals, Strengthen Tech Infrastructure

Healthtech startup Fitterfly has raised $12 Mn in its Series A funding round led by Amazon Smbhav Venture Fund and Fireside Ventures. 

9 Unicorns, Venture Catalysts, Nihar Parikh from 4point0 Health Ventures and Sriram Natarajan from Molbio also participated in the funding round. 

Fitterfly will use the fresh capital to expand the reach of its product Diabefly. It will also deploy funds to enhance its technology stack to give out clinical insights.

With the current fundraising, Fitterfly has raised over $16.6 Mn in aggregate to date, according to the statement.

“This funding will help strengthen our research, launch verticals in the heart health space and grow our customer base by reaching out to more doctors and organizations in the field of chronic disease management. Our corporate wellness models are pushing the envelope from tick-mark-based bundling to an outcome-based approach,” said Dr Arbinder Singal, CEO and cofounder of Fitterfly.

Founded in 2016 by Singal and Shailesh Gupta, Fitterfly works in the domain of Digital Therapeutics (DTx). Its health-focussed programs including Diabefly Pro, Diabefly Reverse, Diabefly With Accu-Chek, Prediabetes and Reset23 help people control their diabetes, obesity and other medical conditions.

Fitterfly has served over 20,000 patients to date and also, helped these patients to reduce 1.5% points of Glycated hemoglobin (HbA1c) on an average, according to the statement. 

In the healthtech segment, it faces competition from the likes of Wysa, Medibuddy, Eka Care and Orange Health. 

While Wysa, Eka Care and Kindly have raised $30 Mn, $15 Mn and $3.5 Mn respectively, MediBuddy lately acquired online consultation platform Clinix.

India’s healthtech industry is likely to become a $5.5 Bn market by 2025, growing at a CAGR of 31% during 2021- 2025.