Mobile-based health and fitness app HealthifyMe that has crossed one million downloads on Google PlayStore has raised $1 million (Rs 6.7 crores) from Dubai-based investor Neelesh Bhatnagar whose company NB Ventures has been actively investing in Indian startups.
Speaking on the funding, Neelesh Bhatnagar said,
I am keen on investing in emerging digital first Indian startups thathave 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. HealthifyMe’s growth journey has been fascinating so far.
The app had earlier received $6 million from IDG, Inventus and Blume Ventures. The fresh funding will be used to hire top leadership and invest in product and technology innovation. The company also plans to expand in overseas markets including the Middle East and Southeast Asia in 2017.
Earlier in the week, HealthifyMe was rated as a “Top of 2016” mobile app by Google and also featured multiple times in the health/fitness category by both Apple and Android.
Founded in 2012 by Tushar Vashisht, Sachin Shenoy and Mathew Cherian, HealthifyMe is a fitness mobile application that uses technology and human services to target weight-loss and claims that its programmes are effective in the prevention of lifestyle diseases such as diabetes and hypertension.
The company monetizes its business by offering weight-loss programs—in which users can connect with over 150 nutritionists and fitness coaches for online consultations.
This year, a couple of fitness startups raised funding from investors. Earlier this month, Delhi-based online fitness marketplace Fitpass secured $1 million (Rs 6.7 crore) in seed funding from Mumbai Angels and a clutch of angel investors from Delhi and Bengaluru. The startup provides users access to fitness studios.