Healthify Me, a weight loss and fitness app, raised $6 million in a Series B extension round from InnoVen Capital and existing investors, the company said on Friday. InnoVen Capital, a Temasek-backed venture capital lending firm, has invested in about 110 Indian firms including Yatra.com, Oyo Rooms and Black Buck.
Healthify raised $12 million in the first Series B round, bringing the total fundraise to $18 million. It said it will use the capital to get 100 million new customers on the platform in India and abroad, starting with Malaysia and followed by Singapore, Indonesia and other southeast Asian countries.
“We have always seen ourselves as a global product company and have built our app in line with global standards of quality and excellence. More than 10% of our 8 million user base, 10% of our coaches & 20% of our overall revenues are already coming from international geographies,” said Tushar Vashisht, chief executive officer (CEO), HealthifyMe. “Our foray into Southeast Asia is an effort to offer a highly localized and curated experience to users there, offering the same level of depth in terms of food library, quality of coaches and technology support that our users in India enjoy. We are overwhelmed by the reception we have received in the country. We will enter more markets soon,” he said.
Founded in 2012 by Vashisht and Sachin Shenoy, Healthify is a fitness app that connects users to nutritionists and fitness trainers for a subscription fee of ₹999. The company has introduced a “Smart Plan” for ₹299, to attract customers.
Source: Mint