India’s leading mobile health and fitness platform, HealthifyMe, on Friday announced the close of a $12 million Series B round of funding led by Sistema Asia Fund - the India focused fund of Russia's largest conglomerate.
Silicon Valley based Samsung NEXT, Singapore’s Atlas Asset Management and Japan’s Dream Incubator were the other participants in the latest round of funding alongside existing investors IDG Ventures India, Inventus Capital, Blume Ventures and Dubai based NB Ventures.
The Rainmaker Group was the advisor to the company on the transaction.
HealthifyMe has grown 3.5 times in 2017 to 4 million users, spread to over 200 cities and is booking US$ 4.5 million in ARR (Annualized Run Rate) revenue. With more than a million monthly active users, HealthifyMe enjoys about 10% of the Indian market share in the health/fitness category as per AppAnnie.
HealthifyMe users have tracked 200 million foods, workouts and exchanged 10 million messages with their nutritionists and trainers. Learning from this, HealthifyMe launched the world’s first AI nutritionist “Ria” in late 2017, which is now guiding its paying consumers alongside human nutritionists and trainers.
The HealthifyMe app itself has also become the highest rated app on Google Play in India achieving a rating of 4.6 and Google’s Best app of 2017 recognition for third year in a row.
HealthifyMe intends to use this fresh round of funding to deepen its presence in India by offering health foods, diagnostics and insurance products beyond its digital nutrition/fitness services portfolio.
HealthifyMe also hopes to enter other emerging markets. The company recently launched in the GCC (Gulf Cooperation Countries) market and is already in the top 3 on Google Play, UAE. Additionally the company intends to use the funds to further its AI and Data Science capabilities.
Tushar Vashisht, CEO, HealthifyMe said, “Our vision is to build the world’s largest online health and fitness service. We want to help millions of consumers achieve their goals by engaging with nutritionists and other health experts empowered with Artificial Intelligence. "Ria" our AI nutritionist that we introduced last quarter will have a game changing effect on fitness/nutrition access to Indians. We are already India's go-to health app, this funding will help us to launch in other emerging markets where obesity and lifestyle diseases are growing exponentially.”