Mumbai: Health-tech startup Fitterfly Technologies Pvt Ltd has raised $3.1 million (Rs 22 crore) in its pre-Series A round of funding led by consumer-focused venture capital firm Fireside Ventures.
Venture Catalysts and its accelerator fund 9Unicorns as well as angel investors from India, the US and Singapore also participated in this round.
Speaking on the latest fundraise, Dr Arbinder Singal, Fitterfly co-founder, said, “We plan to expand our DTx portfolio and invest in developing AI (artificial intelligence) and smart health-tracking tools.”
The startup was launched in 2019 by Singal, Shailesh Gupta and Jayesh Sawant. Singal was earlier with healthcare institutions while Gupta previously worked with ICICI Bank and Sawant with Reliance Jio.
Fitterfly offers customised and personalised wellness programmes for diabetes, PCOS (polycystic ovary syndrome), pregnancy, weight loss, paediatrics and nutrition.
It also offers technology to track children’s food intake, nutrition, physical activity and more. The app tracks health data to provide analytics and recommendations for improving health.
“The segment of digital therapeutics represents an incredible growth opportunity for us. As a consumer-focused fund, we want to play a more proactive and dynamic role in building and shaping consumer behaviour and the lifestyle choices they make,” said Kanwaljit Singh, founder of Fireside Ventures.
The pandemic has accelerated fundraising for health tech, with epharmacy even witnessing the beginning of consolidation.