Flipkart-backed diabetes management platform BeatO has raised $33 million in a Series B funding round led by Lightrock India. The funding round saw the participation of some existing investors including HealthQuad and Indian e-commerce major Flipkart.
The healthtech start-up plans to utilise the capital to expand its diabetes care programme across the country. It also seeks to bolster its product development and wants to scale up the leadership team.
In 2021, the company raised Rs 42 crore ($5.6 million) in a funding round led by the US-based venture capital firm W Health Ventures.
In addition to the above mentioned investors, BeatO is currently backed by Leo Capital, Orios Venture Funds, Parkview Investments and Pharmeasy.
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Founded by Yash Sehgal, Abhishek Kumar and Gautam Chopra in 2015, BeatO offers a diabetes management and care through a mobile application. It also provides glucose-monitoring solutions to diabetics.
It claims to serve over 15 lakh members, which has grown 3x in the last year. The New Delhi-based start-up will also continue to build the evidence-based care programmes to serve over 10 million patients by 2025, it added in a statement.
"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," BeatO co-founder and chief executive officer Gautam Chopra said.
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