Sugar.fit, an India-based health-tech startup, has secured an extra $5 million in Series A funding, bringing its total Series A funding to $16 million.
Sugar.fit said in a statement on Wednesday that B Capital led the recent funding, with previous participation from MassMutual Ventures and existing investors including Tanglin Venture Partners, Endiya Partners, and Cure.Fit.
According to the statement, the new capital will be used to expand Sugar.fit’s technology stack and product range, increase brand presence, and speed up research and development in diabetes management.
“We are grateful to have B Capital join hands with us at Sugar.fit and for the trust and support our existing investors have in us,” said Madan Somasundaram, Co-Founder and Chief Executive Officer of Sugar.fit.
According to him, 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 and to become the go-to destination in all diabetes needs for India,
“Leveraging deep tech and a strong on-ground network, we aspire to service millions of people in the next few years,” he added.
Founded at the end of 2021, Sugar.fit is an innovative Health Tech startup that seeks to manage and reverse diabetes through a highly consumer-centric data-driven digital health experience.
The firm uses continuous glucose monitoring technology (CGM), which helps users see real-time impact of various food and lifestyle activities on their blood sugar level to optimize metabolic health.
It is noted that diabetes is increasing worldwide, particularly in India, where approximately 230 million individuals are dealing with Type 2 diabetes and prediabetes.
As a major cause of life-threatening health complications, there is an urgent need for effective interventions and advanced management solutions.
Sugar.fit offers a comprehensive diabetes care program that combines innovative technology with personalized human interventions.
Top diabetes doctors and nutritionists use devices such as continuous glucose monitors, fitness trackers, and health diagnostics to monitor the real-time impact of users’ lifestyles on their glucose levels.
They provide personalized advice on fitness, nutrition, and sleep.
The continuous approach to diabetes management has produced positive health outcomes for users – 90 percent of users see a reduction in their sugar levels and a decrease in their reliance on medicines.
The company has also established an omnichannel presence, starting in Bangalore, and now operates seven state-of-the-art Diabetes Clinics with top doctors in diabetes care across the city.
These clinics aim to enhance the brand’s visibility while offering a range of innovative wellness therapies for stress management, live fitness and yoga sessions, VR Chromotherapy, and more.
In the last 18 months, Sugar.fit has witnessed significant growth in paid subscribers, currently serving more than 30,000 users on its platform.
“India faces the challenge of managing a dual disease burden, marked by the increasing prevalence of chronic care conditions, notably diabetes,” said Karan Mohla, General Partner at B Capital.
Despite significant investments in healthcare, he said the country continues to grapple with the enduring challenges of access, affordability, and quality, known as the “Iron Triangle”.
“Under the leadership of Madan and Shivtosh, Sugar.fit is dedicated to fostering sustainable healthcare outcomes, supported by a comprehensive approach to distribution across multiple channels and outstanding growth metrics,
“We are genuinely enthusiastic about the company’s journey ahead and its ambitious vision to establish India’s premier integrated chronic healthcare platform,” he said.
According to him, the investment by B Capital further reinforces its position as a leading global investor in the healthcare space and supports the continuous focus on driving technology-led healthcare innovation across the world.
Founded in 2015, B Capital is a multi-stage global investment firm who has an integrated team across nine locations in the United States and Asia.
With more than $6 billion in assets under management across multiple funds, the firm focuses on seed to late-stage venture growth investments, primarily in the technology, healthcare and climate tech sectors.
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