Bengaluru-based healthtech startup Grow Fit has raised $4.5 Mn in Series A funding. The investment was led by Manipal Education and Medical Group (MEMG), the PE arm of Manipal Group.
Existing investors, SAR Group and The Grover Trust also participated in this round. With this investment, Dr. Ranjan Pai, the MD & CEO of MEMG, will be joining the Board of Directors.
Earlier, Grow Fit was backed by Krishnan Ganesh and Meena Ganesh’s GrowthStory platform. K Ganesh said, “Companies which have the right genes can always raise funding, even in a somewhat tight market. Grow Fit’s laser-like focus on customer outcomes sets it apart from others. It takes a unique dedication to go against the conventional wisdom of transactions and the team at Grow Fit has demonstrated this commitment time and again.”
With the newly raised funds, Grow Fit plans to integrate different sources of data from wearable technology and medical reports. The aim is to make the app a one-stop, comprehensive companion for wellness. Also, it aims to expand mobile solutions for fertility, joint health, stress management and more.
Grow Fit In A Nutshell
According to the World Economic Forum, in India alone, over six million lives are lost every year due to lifestyle diseases. And the economic burden of lifestyle diseases has been estimated to be over $4.58 Tn by 2030.
Launched in September 2015 by Jyotsna Pattabiraman, Grow Fit is trying to address this gap with its healthtech platform. It aims to help over 300 Mn Indians who are at risk of contracting lifestyle diseases, with its expert coaching, health foods and behavioral insights.