SUMMARY
This brings the total Series A funding to $16 Mn.
The company raised $11 Mn in the previous phase of Series A funding in October last year,
Founded in 2021 by Madan Somasundaram, and Shivtosh Kumar, Sugar.fit is a healthtech startup offering diabetes management and reversal through a data-centric approach
Bengaluru-based healthtech startup Sugar.fit has raised an additional $5 Mn (around INR 41 Cr) as a part of its extended Series A funding round led by B Capital.
The latest investment took Sugar.fit’s total Series A funding to $16 Mn (around INR 132.5 Cr).
In October last year, the startup raised $11 Mn led by MassMutual Ventures and existing investors, including Tanglin Venture Partners, Endiya Partners, and Cure.Fit.
The fresh capital will be used to expand Sugar.fit’s technology stack and product range. Moreover, it will also deploy the funds to increase its brand presence and speed up research and development in diabetes management.
Founded in 2021 by Madan Somasundaram and Shivtosh Kumar, Sugar.fit is a healthtech startup offering diabetes management and reversal through a data-centric approach. In the last 18 months, the company claimed to have served more than 30,000 users on its platform.
Somasundaram said, “Health habits of consumers have changed over the past few years and the need for a new tech-driven approach is paramount for sustainable health outcomes. Sugar.fit has created a unique platform to help meet this demand.”
Karan Mohla, general partner at B Capital said, “India faces the challenge of managing a dual disease burden, marked by the increasing prevalence of chronic care conditions, notably diabetes. Despite significant investments in healthcare, we continue to grapple with the enduring challenges of access, affordability, and quality. We are genuinely enthusiastic about the Company’s journey ahead and its ambitious vision to establish India’s premier integrated chronic healthcare platform.”
The company claims to have established an omnichannel presence in Bangalore alongside operating 7 Diabetes Clinics across the city.
Sugar.fit provides a comprehensive diabetes care programme that incorporates various devices like continuous glucose monitors, fitness trackers, and health diagnostics. It also offers convenient access to diabetes specialists and health coaches.
In 2021, Sugar.fit raised $10 Mn in a seed funding round .It is backed by investors like MassMutual Ventures, B Capital, Curefit, Endiya Partners and Tanglin Venture Partners.
The company competes against the likes of health and fitness startups such as Stratfit, Growfitter, Fitnapp, and HealthifyMe, HealWell24 and Malaika Arora-backed SARVA Yoga
Healthtech startups have started gaining investors traction for quite some time now.
For instance, Zeno Health has raised $25 Mn in its Series C funding round led by South Korean private equity (PE) firm STIC Investments and existing investor Lightbox.
Another healthtech startup CureBay said it has raised INR 62 Cr (approximately $7.4 Mn) in its Series A1 funding round led by existing investor Elevar Equity.
