Healthtech start-up Fitterfly raises $12 million in Series A

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Healthtech start-up Fitterfly raised $12 million in a Series A round led by Amazon Smbhav Venture Fund and Fireside Ventures. This is Amazon Smbhav’s first health tech investment in India.

9 Unicorns, Venture Catalysts, Nihar Parikh, Founder of 4point0 Health Ventures, and Sriram Natarajan, Founder of Molbio also participated in this round.

Amazon Smbhav Venture Fund had announced a $250 million in 2021 to invest in SMB (small and medium businesses) digitisation, agriculture, and healthcare start-ups.

The fresh capital will be utilised to expand the reach of Diabefly, and Fitterfly’s funding will be used to increase the reach of Diabefly, digital therapeutics, and clinically- proven programme to prevent, manage and reverse diabetes.

It will also be used to develop Fitterfly’s technology stack to give unique clinical insights.

Dr Arbinder Singal, CEO, and Co-Founder, Fitterfly said, “We want to take our clinically-proven diabetes and weight management system to the people who need it the most. This funding will help us strengthen our research, launch new verticals in the heart health space, and grow our customer base by reaching out to people living with diabetes as well as the universe of doctors and organizations in the field of chronic disease management. Our corporate wellness models are pushing the envelope from ‘tick-mark-based bundling’ to an ‘outcome-based approach.'

Kanwaljit Singh, Founder and Managing Partner, Fireside Ventures, which co-led the funding, said, “The amalgamation of technology and patient-centered care leading to better outcomes is the need of the hour in the fight against chronic diseases. I have known Arbinder for more than a decade and his experience as a doctor and a serial entrepreneur is very meaningful for building an impactful global company. When we backed Fitterfly last year, we were sure of their capabilities in this domain. Today, as we reaffirm our support to them, we hope to see the same zeal in expanding their reach.”

Fitterfly has over 20,000 patients, through a 360-degree care approach and clinically prescribed therapy by more than 200 doctors across India. This has led to a reduction of 1.5% points in HbA1c on average, which is comparable to the reduction seen by oral diabetes drugs.

Founded by Dr Arbinder Singal and Shailesh Gupta in 2016, Fitterfly has over 200 employees and is headquartered in Navi Mumbai. The company has raised a total of $16.6 million till date.