, a Diabetes Care provider has secured $33 million in Series B funding to scale it operations and augment expansion plans.
The fresh funding will be deployed to accelerate the access to its digital platform, invest further in product development, and consolidate access to BeatO’s evidence-based care programs, the company said in a statement.
Founded by Gautam Chopra, Yash Sehgal, and Kunal Kinalekar, BeatO is an app-based platform that provides diabetes care programs to prevent, control, and reverse diabetes. It also includes smartphone-connected glucometers to help with personalised health insights and access to medical experts.
With more than 200 million people of all ages at risk, India is poised to surpass China to become the world’s diabetes capital.
BeatO business tripled
According to BeatO, it has over 15 lakh customers, with more than 70% hailing from tier II cities. The business has tripled in size during the past year, and soon collaboration agreements with key figures in the insurance and pharmaceutical industries are anticipated to be finalised. By 2025, it also wants to increase its patient base to 10 million.
“With our digital first solution, BeatO is well positioned to lay the new standards of how care will be delivered in the future to millions of Indians. We are pleased to have a fantastic set of partners joining us on the journey who deeply resonate with our vision and bring solid capabilities to help us achieve our goal,” Gautam Chopra, Co-Founder and CEO of BeatO said.
The funding, led by Lightrock, with participation from HealthQuad and existing investors such as Orios Venture Partners, Blume Ventures, and Leo Capital included undisclosed investments from Ecommerce giant
The startup previously raised multiple rounds of debt funding from funds including Alteria Capital, W Health Global, and Kotak Investment Advisors.