Fitterfly, a health tech startup focused on digital medicines and health, revealed on Wednesday that it had secured USD 12 million in Series A funding from investors Fireside Ventures and Amazon Smbhav Venture Fund on 20th July 2022.
Nine Unicorns, Venture Catalysts, Nihar Parikh, the founder of 4point0 Health Ventures, and Sriram Natarajan, the founder of Molbio, are the co-investors in this round.
Increased awareness of Diabefly’s digital therapeutics and clinically-proven programs to prevent, manage and reverse diabetes will be accomplished with the help of the monies generated. Additionally, it will improve Fitterfly’s technological foundation and provide unique clinical insights.
What the founder has to say:
Dr. Arbinder Singal, CEO, and co-founder, Fitterfly:
“We want to deliver our clinically-validated weight- and diabetes-management approach to those who need it most. By interacting with individuals living with diabetes and the vast community of physicians and organizations involved in managing chronic diseases, this investment will enable us to further our research, introduce new verticals in the heart health sector, and expand our client base. Our corporate wellness models advocate an outcome-based approach instead of a tick-mark-based packaging.”
What the investors have to say:
Kanwaljit Singh, founder and managing partner, Fireside Ventures:
In the battle against chronic diseases, technology and patient-centered treatment must be combined for better results. I’ve known Arbinder for more than ten years, and his background as a physician and serial entrepreneur is tremendously valuable for creating a successful international business. We were confident in Fitterfly’s talents in this area when we backed them last year. We expect to see the same zeal in them as they broaden their reach as we reaffirm our support for them now.
Amazon Smbhav Venture Fund Spokesperson:
We established the USD 250 million Amazon Smbhav Venture Fund in April of last year to invest in early-stage business ventures and tech start-ups. Healthcare is one of the fund’s primary emphasis areas, among others. The Fitterfly team, led by Arbinder Singal and Shailesh Gupta, is doing some fantastic work to develop digital treatment solutions that have received clinical validation. We are inspired by their goal of employing technology to address some of India’s most pressing healthcare problems, such as diabetes, obesity, and heart disease. We are intrigued by their value proposition, the potential for overall effect, and clinical validation.
More about the startup:
Fitterfly, with its headquarters in Navi Mumbai and more than 200 workers, was founded in 2016 by Dr. Arbinder Singal and Shailesh Gupta. The company has so far raised USD 16.6 million in total.
Fitterfly promotes an enhanced strategy for managing diabetes by focusing on personalized glycemic response-based coaching and offering various individualized digital therapy programs. The American Diabetes Association Conference in 2022 saw five papers on diabetes delivered by this one and only Indian startup. The International Diabetes Federation, American Association of Clinical Endocrinologists, US Endo, European Congress, RSSDI, and other organizations have published more than 50 articles by Fitterfly at various international and national venues.
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