May 27, 2024

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Health Lasts Longer

Indian AI-enabled health and fitness app HealthifyMe set for North America expansion with $75M investment

Indian AI-enabled health and fitness app HealthifyMe set for North America expansion with $75M investment

HealthifyMe, an AI-enabled wellness and exercise application from India, has netted $75 million in a Sequence C funding spherical led by LeapFrog and Khosla Ventures. The investing spherical was also joined by HealthQuad, Unilever Ventures, Elm of the Saudi Arabia Community Expenditure Fund, as well as repeat traders Chiratae Ventures, Inventus Funds and Sistema Asia Cash. 

The firm has so much lifted about $100 million from a variety of traders.

WHAT IT DOES

HealthifyMe claims to be India’s greatest electronic wellness system with in excess of 25 million customers across 300 Indian cities and close to 1,500 coaches. It harnesses AI to offer subscription-dependent health and fitness and health and fitness providers, these as calorie tracking, one particular-on-one particular nourishment and physical fitness coaching, and food plan and training strategies. Accessible on both equally iOS and Android units, the application also features AI nutritionist Ria who acts as a personal wellness assistant.

The platform a short while ago launched two most recent merchandise: HealthifyPlus, a programme for buyers with persistent conditions, these kinds of as diabetic issues, PCOS and hypertension and HealthifyStudio, which provides are living exercise routine classes.

The business also provides wellness programmes to around 100 companies close to India. 

HealthifyMe has been launched exterior India, such as in Malaysia and Singapore exactly where its choices are localised. 

WHY IT Matters

With its fresh cash, HealthifyMe is set to get its application throughout the world, concentrating on an expansion in India, Southeast Asia and North The united states. Dependent on a press statement, the firm is on the lookout to get providers in the wellness and wellness room to raise its expansion efforts. Also, it intends to established up places of work and teams in the San Francisco Bay Location and Southeast Asia. 

The organization explained it will develop its management workforce and recruit men and women in crucial positions throughout operations, human methods, technological innovation and advertising and marketing. It will also double the range of its engineering and style and design staff and retain the services of above a thousand trainers and coaches this calendar year by itself. 

Sector SNAPSHOT

The Environment Wellness Group has estimated approximately 2 billion older people worldwide to be obese or overweight. In 2017 by yourself, about 4 million people today die from conditions associated to weight problems. 

Firms addressing this issue ended up projected to access a price of $3 billion by 2025. Between notable gamers is Noom, which in Could scored a whopping $540 million from a funding spherical. An additional business, WW Worldwide, introduced in January a membership-primarily based digital body weight reduction programme. 

Meanwhile, HealthifyMe mentioned it is on its way to strike $50 million in yearly recurring earnings by yearend.

ON THE Record

“We are excited to spouse with Leapfrog, Khosla Ventures and other worldwide investors in our mission to healthify a billion persons. We are presently the current market leaders in India and Southeast Asia and by combining AI and human empathy, we can produce final results in excess weight and way of living disorder administration at a portion of the price tag doable right now,” reported HealthifyMe Co-founder and CEO Tushar Vashisht.

“With our Series C, we are psyched to get our choices world – North The us currently being a key section of the approach – and we are wanting forward to selecting and partnering with individuals close to the environment who are passionate about working with know-how to generate constructive behaviour improve,” he additional.