With participation from HealthQuad, Flipkart, and current investors, BeatO, a complete digital care platform for managing and reversing Diabetes, has raised $33 million in Series B funding led by Lightrock.
For the millions of people with diabetes who lack access to high-quality, ongoing care, BeatO offers a cheap, comprehensive, and patient-centered digital solution. With over 70% of their customers hailing from Tier II cities and beyond, and 55% of their users never having used a blood glucose monitoring device before, it is growing the market for diabetes care, as per reported by Business World.
Commenting on the new funding, Gautam Chopra, Co-Founder & CEO – of BeatO said, “With our digital-first solution, BeatO is well positioned to lay the new standards of how care will be delivered in the future to millions of Indians. We are pleased to have a fantastic set of partners joining us on the journey who deeply resonate with our vision and bring solid capabilities to help us achieve our goal.”
The raised money will be used to broaden BeatO’s diabetic treatment programmes throughout India, enhance their leadership team, and make more investments in BeatO’s technology and product.
Tejasvi Ravi, from Lightrock added, “BeatO is on an ambitious mission to re-design how diabetes is cared for in India. They are a world-class team that have demonstrated the ability to deliver consistent, high-quality and empathetic care resulting in clinical outcomes that are outstanding.”
As the global benchmark of care for diabetes, BeatO will also keep establishing the evidence base for its care programmes. By 2025, BeatO wants to be the leading diabetes care provider in India, having treated more than 10 million patients.
Ajay Mahipal, Director, HealthQuad said “BeatO’s full-stack integrated platform approach focused on diabetes care solves accessibility, affordability and quality issues. Device-first engagement with clinical outcome-backed Care Program solution aims to sustainably manage diabetes for the patients. BeatO is providing care across the continuum of monitoring, control and reversal. We remain committed to partnering with innovation-first firms providing access to quality care.”
Speaking on the investment, Ravi Iyer, Senior Vice President and Head – Corporate Development, at Flipkart, said, “Through this investment in BeatO, Flipkart ventures is committed to supporting a business that is building next-generation innovations and evolving the digital health ecosystem. BeatO, with its holistic, differentiated and affordable digital care solution, is well placed to address the rising diabetes epidemic in India.”
BeatO offers an affordable, comprehensive, patient-centric digital solution to millions of diabetics with limited access to medical care. Over 70% of its customers are from Tier II cities and beyond, and 55% have never used a blood glucose monitoring device.