SUMMARY
- Healthify raises $20M to expand into the US, enhancing AI-based fitness and nutrition services.
- The firm focuses on B2B wellness and consumer app, partnering with pharma, insurance, and diagnostics sectors.
- Aims for EBITDA positivity; FY23 revenue at ₹229.71 Cr, with ₹142 Cr loss.
Health-tech firm Healthify has raised $20 million in a $45 million equity round. According to a press release from the firm, the fresh funding will support Healthify’s entry into the US market and improve its AI-powered fitness and nutrition coaching services.
Claypond Capital joined the round, which was spearheaded by Khosla Ventures and LeapFrog Investments.
Tushar Vashisht, Sachin Shenoy, and Mathew Cherian-led Healthtech firm Healthify help people achieve their fitness objectives by utilizing wearable technology, software, and fitness experts. It is growing its footprint in 300 Indian cities and claims to have served over 40 million consumers. The business additionally claims that its AI skills are being customized with features that take into account regional languages, dietary restrictions, and cultural customs for new markets like the US.
The comapny has a business-to-business (B2B) vertical centered on corporate wellness in addition to its consumer app, and it has collaborations in the pharmaceutical, insurance, and diagnostics sectors.
To date, the business has raised $125 million in equity investment. It has also raised $30 million, including $5 million in venture debt, in a pre-Series D financing in June 2023. Previously, it raised $75 million in Series C funding from Chiratae Ventures, LeapFrog Investments, Sistema Asia Fund, and Khosla Ventures in July 2021.
By the end of the fiscal year, Healthify anticipates being EBITDA-positive. The company’s operations in India have achieved operational profitability. Despite not yet submitting its FY24 annual report, the company reported FY23 revenue of Rs 229.71 crore and a loss of Rs 142 crore.
