HealthifyMe Bags $30 Mn From LeapFrog, Others

SUMMARY

The funding round also saw participation from new investors FinnFund and Van Lanschot Kempen, and existing investors Unilever Ventures, Chiratae Ventures, among others

HealthifyMe said it would use the fresh capital for strengthening its AI capabilities, hiring, and for global expansion

The startup, which reported a net loss of INR 157 Cr in FY22, said it would achieve an ARR of $50 Mn in the coming months

Bengaluru-based fitness startup HealthifyMe has raised $30 Mn in its pre-Series D funding round led by LeapFrog Investments and Khosla Ventures. The round also saw participation from new investors FinnFund, a Finnish development financier, and Van Lanschot Kempen, a Dutch investment firm.

In a statement, the startup said that existing investors Unilever Ventures, Chiratae Ventures, Blume Ventures and HealthQuad were also part of the funding round.

HealthifyMe said it will use the fresh capital for strengthening its AI capabilities, hiring, and for global expansion.

The new capital will also help the startup upgrade its AI-powered virtual nutritionist, Ria.

HealthifyMe said it currently has a user base of over 35 Mn and claimed that it would achieve an annual recurring revenue (ARR) of $50 Mn in the coming months.

It must be noted that HealthifyMe’s net loss widened over 8X to INR 157 Cr in the financial year 2021-22 (FY22) from INR 19 Cr in FY21. Meanwhile, its operating revenue stood at INR 185.2 Cr in FY22 as against INR 86 Cr in the previous fiscal year.

The funding round comes almost six months after Inc42 exclusively reported about the startup laying off around 150 employees, or 15-20% of its workforce.

Before this, HealthifyMe last raised $75 Mn in 2021 in its Series C round led by LeapFrog and Khosla Ventures.

With this capital infusion, HealthifyMe has raised over $130 Mn across multiple rounds. The startup competes with the likes of UltraHuman, Cult.fit, one8 Fitness, among others.

Founded in 2012 by Tushar Vashisht, HealthifyMe’s health and fitness app leverages AI to deliver measurable results on eating habits, fitness and weight by tracking lifestyle and providing access to coaches, among other benefits.