Healthtech startup Fitterfly has raised $12 million in its Series A funding round from Amazon Smbhav Venture Fund and Fireside Ventures.
The funding round also saw participation from 9 Unicorns, Venture Catalysts, Nihar Parikh (founder of 4point0 Health Ventures), and Sriram Natarajan (founder of Molbio).
The startup plans to use the funds to grow its technology stack and branding and improve the reach of its diabetes management digital therapeutic program Diabefly.
The Mumbai-based Fitterfly was founded in 2016 by Dr Arbinder Singal and Shailesh Gupta, It provides personalized digital therapeutic programs for Diabetes, Pregnancy, PCOS and Obesity to deliver health outcomes.
“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 organisations in the field of chronic disease management,” said, Dr Arbinder Singal, CEO and Co-Founder, Fitterfly.
“We want to take our clinically-proven diabetes and weight management system to the people who need it the most,” he added.
The startup has so far managed over 20,000 patients through a 360-degree care approach and medically prescribed therapy by over 200 doctors across India.
“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. 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, ” said, Kanwaljit Singh, Founder and Managing Partner, Fireside Ventures.
“We launched the $250 million Amazon Smbhav Venture Fund in April last year to invest in early-stage entrepreneurs and tech start-ups. Amongst others, one of the key focus areas for the fund is healthcare. Led by Arbinder Singal and Shailesh Gupta, the team at Fitterfly is doing some inspiring work to create clinically-validated digital therapeutic solutions. We are excited by their mission of using technology to solve some of the most prevalent healthcare issues in India like diabetes, obesity and heart disease. Their value proposition, potential for large scale impact and clinical validation is exciting for us,” said an Amazon Smbhav Venture Fund Spokesperson.
Fitterfly is a health tech start-up specialising in Digital Therapeutics (DTx) & is founded & run by a team of Doctors, Engineers & Senior Nutritionists. Their DTx programs combine human & technological interventions to cater to every patient’s specific needs to improve outcomes. Fitterfly’s current product suite includes scientific & hyper-personalised DTx programs for prediabetes, diabetes & obesity.
Designed to be an add-on to the Doctor’s medical therapy, our DTx programs offer 360° guidance around nutrition, exercise and mental well-being. They improve patient outcomes through behavioural change, which is done by the collaborative efforts of a team of Coaches who are at the forefront of every program. Every team has a Nutritionist with an M.Sc in dietetics, a qualified Physiotherapist and an RCI-certified Clinical Psychologist. Together, they push the patient towards healthier habits using the ‘Nudge Theory’.
Along with the Digital Therapeutics vertical, Fitterfly has also developed deep intellectual property in the nutrition and food database industry covering India and the GCC region. Their nutrition vertical works with the top-most companies in the pharmaceutical and nutraceutical industries by helping them position their products more effectively using their database and SAAS platforms via APIs. Fitterfly operates out of Navi Mumbai, Surat and Gurgaon offices, with the majority of employees currently working out of their homes across India.