Fitterfly, a digital therapeutic firm focused on diabetes treatment, said on Wednesday that it had secured $12 million in investment, with Fireside Ventures and Amazon Smbhav Venture Fund as the main investors.
9Unicorns, Venture Catalysts, Nihar Parikh, Founder of 4point0 Health Ventures, and Sriram Natarajan, Founder of Molbio are the co-investors in this round.
The money will be used to spread the word about Diabefly, a digital therapies program that has been clinically successful in managing, reversing, and preventing diabetes.
Additionally, it will be utilized to improve Fitterfly’s technological foundation and provide special clinical insights.
Through a 360-degree care strategy and professionally prescribed therapy from more than 200 doctors throughout India, Fitterfly has handled more than 20,000 patients to date.
According to the business, this has often resulted in a 1.5 percent point decrease in HbA1c, which is equivalent to the decrease seen with oral diabetic medications. While many persons with the condition can completely reverse it in its early phases, problems have been avoided, and medication reliance has been reduced in others who have the disease in its later stages.
“We want to take our clinically-proven diabetes and weight management system to the people who need it the most,” said Arbinder Singal, chief executive officer (CEO) and co-founder of Fitterfly.
“This funding will help us strengthen our research, launch new verticals in the heart health space and grow our customer base by reaching out to people living with diabetes as well as the universe of doctors and organizations in the field of chronic disease management,” Singal said.
Millions of patients would benefit from Singal the fund’s assistance in preventing, treating, and managing chronic diseases, including diabetes, obesity, and heart disease.
Fitterfly, founded in 2016 by Singal and Shailesh Gupta, is based in Navi Mumbai and employs around 200 people. The firm has so far raised $16.6 million in total.
