Total amount raised
$47.4 Million
Latest funding date
11/1/2022
Location
BeatO has successfully raised funds through seven distinct funding rounds, with the latest being a Series B round. The company has attracted a total of 15 investors, including notable names like Orios Venture Partners and PharmEasy.
Keep reading to explore the intricacies of BeatO's fundraising journey and the investors backing this innovative platform.
What Is BeatO?
BeatO is a prominent player in the healthcare industry, specifically focusing on diabetes management and treatment. Established in 2015, the company is based in New Delhi, India, and operates under Health Arx Technologies Pvt. Ltd.
With a workforce of 251-500 employees, BeatO offers a comprehensive platform that includes a health monitoring application for diabetic patients to track their glucose levels. The platform also features a science-backed diabetes care program, smart glucometers, and app-based tracking, aiming to improve overall well-being and metabolic health.
How Much Funding Has BeatO Raised?
- Seed Round
- Amount Raised: $1,300,000
- Date: April 2018
- Lead Investors: Blume Ventures, Leo Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch the initial version of the BeatO app and smart glucometers.
- Seed Round
- Amount Raised: INR 117,500,000
- Date: March 2019
- Lead Investors: Orios Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the user base and enhance the app's features.
- Series B
- Amount Raised: INR 420,000,000
- Date: July 2021
- Lead Investors: W Health Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve product offerings.
- Debt Financing
- Amount Raised: INR 270,000,000
- Date: April 2022
- Lead Investors: W Health Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operational expenses and product development.
- Debt Financing
- Amount Raised: INR 180,000,000
- Date: September 2022
- Lead Investors: Alteria Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the reach of BeatO's diabetes care programs.
- Series B
- Amount Raised: $33,000,000
- Date: November 2022
- Lead Investors: Lightrock India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand diabetes care programs across India, strengthen the leadership team, and advance product and technology.
Total Amount Raised: $34,300,000
Current Valuation: Not publicly disclosed
Key Investors
- Lightrock India
- Details: Lightrock India is a venture capital firm that focuses on investing in companies that aim to create a positive impact on society. They led the Series B funding round for BeatO.
- Investment Focus Areas: Healthcare, education, sustainable energy.
- Notable Investments: Not specified in the sources.
- HealthQuad
- Details: HealthQuad is a healthcare-focused venture capital fund that invests in innovative healthcare companies. They participated in the Series B funding round for BeatO.
- Investment Focus Areas: Healthcare services, medical devices, digital health.
- Notable Investments: Not specified in the sources.
- Flipkart Ventures
- Details: Flipkart Ventures is the investment arm of the e-commerce giant Flipkart. They participated in the Series B funding round for BeatO.
- Investment Focus Areas: Technology, e-commerce, healthcare.
- Notable Investments: Myntra, PhonePe, Shadowfax.
- Orios Venture Partners
- Details: Orios Venture Partners is an early-stage venture capital firm that invests in technology startups. They have been involved in multiple funding rounds for BeatO.
- Investment Focus Areas: Technology, consumer internet, healthcare.
- Notable Investments: Not specified in the sources.
- Blume Ventures
- Details: Blume Ventures is an early-stage venture capital firm that invests in technology startups. They are an existing investor in BeatO.
- Investment Focus Areas: Technology, consumer internet, healthcare.
- Notable Investments: Not specified in the sources.
What's Next for BeatO?
BeatO is poised to seize significant opportunities in the diabetes care market, aiming to serve over 10 million patients by 2025. With a focus on expanding its programs across India, particularly in Tier 2 cities, the company is well-positioned to address the growing demand for digital health solutions. Strategic partnerships with insurance and pharmaceutical sectors will further enhance its reach and impact.
Future fundraising rounds are likely as BeatO continues to scale its operations and invest in product development. The company's impressive growth trajectory and market potential make it an attractive prospect for investors. However, challenges such as managing rapid expansion, ensuring high-quality care, and navigating competition from other health tech startups remain.
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