Total amount raised
$15.1 Millions
Latest funding date
07/01/2022
Location
Fitterfly has successfully raised significant funding through multiple rounds, with the latest being a Series A round. The company offers personalized wellness programs aimed at diabetes care and weight loss.
Keep reading to explore the intricacies of Fitterfly's fundraising journey and the investors backing this innovative platform.
What Is Fitterfly?
Fitterfly, founded on September 1, 2016, by Arbinder Singal and Shailesh Gupta, is a health-tech startup based in Mumbai, Maharashtra, India. The company specializes in personalized wellness programs aimed at diabetes care and weight loss.
Operating in the diabetes, health care, nutrition, and wellness industries, Fitterfly employs between 251 and 500 people. The company leverages intelligent, personalized technology and science to help individuals manage and improve their metabolic health conditions.
How Much Funding Has Fitterfly Raised?
- Seed Round (Jan 4, 2019)
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at initial growth and development.
- Seed Round (Apr 21, 2021)
- Amount Raised: $3.1M
- Date: April 2021
- Lead Investors: Fireside Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development.
- Series A (Jul 20, 2022)
- Amount Raised: $12M
- Date: July 2022
- Lead Investors: Amazon Smbhav Venture Fund, Fireside Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the reach of Diabefly, enhance technology, strengthen research, and launch new verticals in heart health.
Total Amount Raised: $15.1M
Current Valuation: Not publicly disclosed
Key Investors
- Amazon Smbhav Venture Fund
- Details: Amazon Smbhav Venture Fund is a $250 million fund announced by Amazon to support small businesses in India. This investment in Fitterfly marks their first healthtech investment in the country.
- Investment Focus Areas: SMB digitization, agriculture, healthcare start-ups
- Notable Investments: This is their first healthtech investment in India.
- Fireside Ventures
- Details: Fireside Ventures is a venture capital firm founded by Kanwaljit Singh, focusing on early-stage consumer brands. They have a reputation for backing impactful and scalable companies.
- Investment Focus Areas: Consumer brands, start-ups with a focus on technology and patient-centered care
- Notable Investments: Mamaearth, Boat, Vahdam Teas
- 9Unicorns
- Details: 9Unicorns is an accelerator fund that invests in early-stage startups across various sectors. They provide funding, mentorship, and networking opportunities to help startups grow.
- Investment Focus Areas: Early-stage startups across various sectors
- Notable Investments: Not specified
- Venture Catalysts
- Details: Venture Catalysts is an integrated incubator that provides funding, mentorship, and networking to startups. They focus on early-stage investments and have a broad portfolio.
- Investment Focus Areas: Early-stage startups across multiple sectors
- Notable Investments: Beardo, PeeSafe, Innov8
- 4point0 Health Ventures
- Details: Founded by Nihar Parikh, 4point0 Health Ventures is an investment firm focused on health tech. They aim to support innovative health-related ventures.
- Investment Focus Areas: Health tech
- Notable Investments: Not specified
What's Next for Fitterfly?
Fitterfly stands at the cusp of significant growth opportunities, driven by the expansion of its Diabefly program and the launch of new verticals in heart health. With a robust technology stack and a focus on personalized care, the company aims to reach millions more patients and collaborate with healthcare professionals across India. The healthtech industry, projected to grow to $5.5 billion by 2025, offers a fertile ground for Fitterfly's innovative solutions.
Future fundraising appears promising, given the successful Series A round and the involvement of prominent investors like Amazon Smbhav Venture Fund and Fireside Ventures. These funds will likely support further technological enhancements and market expansion. However, Fitterfly must navigate challenges such as scaling operations, maintaining clinical efficacy, and competing with other healthtech startups. The company's ability to adapt and innovate will be crucial in overcoming these hurdles and achieving sustained growth.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Fitterfly and gather other critical business insights. Sign up for free to start enhancing your sales strategies today.
