Health and fitness startup HealthifyMe has raised $6 million in its extended Series B round from Sistema Asia Fund, Samsung NEXT, Chiratae Ventures (previouslyIDG Ventures India), Inventus Capital and Blume Ventures.
The mix round of equity and debt also saw participation from Innoven Capital’s Singapore entity. Besides local market, the Bengaluru-based startup has a small presence in Singapore.
With the fresh capital, HealthifyMe will expand its footprint in international markets such as Malaysia, Indonesia, the Middle East including Singapore over the next 6 months.
Since its inception, HealthifyMe has raised over $25 million risk capital including $12 million Series B round in February, this year.
According to Tushar Vashisht, Co-founder and CEO of HealthifyMe, about 20 per cent of the startup’s revenue comes from offshore users. With emphasis on overseas market, it anticipates about 33 per cent of revenue from outside India.
Meanwhile, it has also piloted a curated online foods marketplace called EatBetter and claims to amass over 3 lakh members who are using the platform in just 2 months. Further, the startup has tied up with 50 vendors offering 500 stock keeping units (SKUs) for the newly added marketplace.
Launched by Vashisht, Sachin Shenoy and Mathew Cherian in 2012, HealthifyMe uses a combination of software, wearable devices, and fitness trainers to help people reach their fitness goals.
With a presence in over 220 cities in India and 50 cities abroad, the app claims to have clocked $4.5 million as annualised revenue run rate for FY18. For the next financial, it has set a target of $10 million (ARR) and grow its user base by 40 per cent to 10 million.
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