Health and fitness startup HealthifyMe on Wednesday said it has raised $30 million in a pre-Series D funding round led by LeapFrog Investments and Khosla Ventures along with FinnFund, a Finnish development financier, and Dutch investment firm Van Lanschot Kempen.
The round, which also saw participation from existing investors Unilever Ventures, Chiratae Ventures, Blume Ventures and HealthQuad, included some debt as well.
The company said it will use the capital to advance its AI capabilities, hiring, and propelling global expansion.
With the current fundraising, the total investments raised by the company to date stand at $130 million. In 2021, HealthifyMe raised $75 million as part of a Series C round led by LeapFrog and Khosla Ventures.
The startup has a presence across the Southeast Asian countries of Singapore, Malaysia and Indonesia; Saudi Arabia and UAE in the Middle East; as well as the UK and Australia.
Last year, the company laid off 150 employees.
India has more than 5,000 health tech startups, including PharmEasy, CureFit, Practo, MedLife, and CallHealth, with the size of the industry currently pegged at $1.9 billion.
Founded by Tushar Vashisht, Sachin Shenoy and Mathew Cherian, HealthifyMe has fitness wearable devices, fitness trainers and an application for users to track their calorie intakes. It claims to be used by over 35 million users and has more than 1,000 coaches across India and Southeast Asia.
The Indian entity of the group posted Rs 185.25 crore revenue in FY22, a 2.15 times jump from Rs 86.05 crore in FY21. During the period, its losses jumped 8.26 times to Rs 157 crore from Rs 19 crore in the preceding financial year (FY21), according to Entrackr.
LeapFrog’s other healthcare investments include Redcliffe Lifetech, Goodlife Pharmacy and Medgenome.
