Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Health and fitness app HealthifyMe has secured $1 Mn (INR 6.7 Cr) funding led by Neelesh Bhatnagar, a Dubai-based investor from NB Ventures.
The company plans to utilise the current round to hire top leadership and invest in product and tech innovation.
Commenting on the recent development, investor Neelesh Bhatnagar, said, “I am keen on investing in emerging digital-first Indian startups that have the ability to expand internationally with an asset-light approach. I look forward to helping them expand to the Middle East at the right time.”
Founded by Tushar Vashist and Sachin Shenoy in 2012, HealthifyMe is a health and wellness company that helps people to lose weight through its programme. It uses a combination of cloud-powered software, wearable devices and human assistance (nutritionists, trainers and yoga instructors) to help people reach their fitness goals.
In May 2016, the Bengaluru-based startup raised $6 Mn (INR 40 Cr) in Series A round of funding from IDG Ventures India, Inventus Capital, and Blume Ventures.
It has also raised two rounds to close its seed round in 2015. In May 2015, Micromax made a strategic investment in the digital fitness provider. While it raised the second round of funding from angel investors Gopal Srinivasan, Sashi Reddi, Amit Gupta, Pallav Nadhani, and Dr. Roopa Nath among others.
The startup is in competition with other fitness platforms like FeetApart, FitCircle and Obino. In February this year, FeetApart raised an undisclosed amount of angel funding from Nielsen Singapore’s executive, Vishal Bali, and other angel investors.
(This development was reported by ET.)
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.