Health and fitness app HealthifyMe, has raised $6 million (around Rs 40 crore) in Series A funding from IDG Ventures India, Inventus Capital and Blume Ventures.
The startup plans to invest the funding towards the technology and product. It plans to further develop its digital coaching platform and to accelerate growth in India. It aims to increase its user base to 5 million and tie up with over 500 corporate and healthcare partners in 2-3 years’ time.
Tushar Vashisht, one of the founder said that the startup is slowly moving towards a controlled marketplace model where independent, verified coaches would be listed. The larger focus would be to transform into a complete weight loss solution rather than only a calorie tracker application.
Founded in 2012 by Tushar Vashisht, Mathew Cherian and Sachin Shenoy, HealthifyMe app tracks users’ fitness and exercise regimes, sums up the data and connects them to nutritionists and trainers on the platform who analyse the data and provide them with contextual feedback.
In its premium service, users can provide information about their food intake by sharing a photo of their food and schedule a telephonic appointment with their nutritionists or trainers who create diet and fitness plans for them and offer advice on lifestyle modifications for healthy living.
HealthifyMe claims to be the first app to introduce calorie tracking of Indian dishes. Vashisht claimed that over 25 million Indian food items have been tracked on the platform so far.
The startup raised an undisclosed amount in pre-Series A funding from a group of individual investors last year. In May last year, the company secured money from Micromax, as part of its pre-Series A round.
The company had previously raised $250,000 in angel funding in 2012 from Rajesh Mushroowala, board member of Sytel and AngelPrime, Srini Koppulu of Hyderabad Angels, Arun Seth, former chairman of Alcatel-Lucent India, Kunal Bajaj, former board member, One97 Communications, Sashi Reddi, owner, Sri Capital, and a few others.
The company claims to have over 5,00,000 users and works with a bunch of healthcare partners such as Manipal Hospitals and Medanta, in addition to offering corporate wellness programmes to companies such as Philips, GE and Cognizant.