Fitterfly

Key Highlights:

  • Healthtech startup Fitterfly has raised $12 Mn funding in its Series A round led by Amazon Smbhav Venture Fund and Fireside Ventures.
  • Fitterfly plans to use these funds to expand the reach of its product Diabefly and to enhance its technology stack to give out clinical insights.
  • Fitterfly has served over 20,000 patients and even helped these patients to reduce 1.5% points of Glycated haemoglobin (HbA1c) on average.

Healthtech startup Fitterfly has raised $12 Mn funding in its Series A round led by Amazon Smbhav Venture Fund and Fireside Ventures. The funding round saw participation from 9 Unicorns, Venture Catalysts, Nihar Parikh from 4point0 Health Ventures and Sriram Natarajan from Molbio.

Fitterfly was founded in 2016 by Singal and Shailesh Gupta. The Healthtech startup works in the field of Digital Therapeutics (DTx). Its health-focused programs like Diabefly Pro, Diabefly Reverse, Diabefly With Accu-Chek, Prediabetes and Reset23 help people control their diabetes, obesity and other medical conditions.

Fitterfly plans to use these funds to expand the reach of its product Diabefly. Additionally, it will use funds to enhance its technology stack to give out clinical insights.

According to a statement released by Fitterfly, after this recent fundraising, the startup has raised over $16.6 Mn in the aggregate to date.

As per the CEO and co-founder of Fitterfly Dr Arbinder Singal, “these fundings will help us expand our customer base by reaching out to more doctors and organizations in the chronic disease management field while strengthening our research. We’re moving beyond tick-mark-based bundles to a more outcome-focused approach to corporate wellness”.

According to the statement, to date, Fitterfly has served over 20,000 patients and even helped these patients to reduce 1.5% points of Glycated haemoglobin (HbA1c) on average.

In terms of competition in the health tech segment, the startup faces competition from the likes of Wysa, Medibuddy, Eka Care and Orange Health.

The Indian health tech market is expected to reach $5.5 Bn by 2025, growing at a CAGR of 31%.

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