Health & fitness platform Healthify raised $20 M funding, aims for US expansion
As part of a $45 million equity round, the health and fitness platform Healthify (formerly HealthifyMe) has raised $20 million in new funding. Khosla Ventures and LeapFrog Investments led this round, with Claypond Capital, the family office of Indian healthcare billionaire Dr. Ranjan Pai, joining the mix.
Healthify raised $30 million, including $5 million in venture debt, in a pre-Series D round in June 2023.
According to a press release from the company, the new funding will support Healthify’s entry into the US market and improve its AI-powered fitness and nutrition coaching services.
To date, Healthify has raised $125 million in equity financing. The business had previously raised $75 million in Series C funding from Chiratae Ventures, LeapFrog Investments, Sistema Asia Fund, and Khosla Ventures in July 2021.
Healthify, which was founded by Tushar Vashisht, Sachin Shenoy, and Mathew Cherian, helps people achieve their fitness objectives by utilizing wearable technology, software, and fitness trainers. It is growing its presence in 300 Indian cities and claims to have served over 40 million users.
Healthify claims that its AI capabilities are being customized with features that take into account regional languages, dietary restrictions, and cultural customs for new markets like the US.
With alliances in the pharmaceutical, insurance, and diagnostics sectors, Healthify offers a business-to-business (B2B) vertical centered on corporate wellness in addition to its consumer app.
In terms of finances, Healthify’s operations in India are now profitable, and by the end of the fiscal year, the company anticipates being EBITDA-positive. Although the company has not yet submitted its FY24 annual report, it reported FY23 revenue of Rs 229.71 crore and a loss of Rs 142 crore.
