Total amount raised
$15.1 Million
Latest funding date
07/01/2022
Location
Fitterfly has successfully raised funding over three rounds, with the latest being a Series A round. The company is backed by notable investors, including 4point0 Health Ventures, Venture Catalysts, Amazon Smbhav Venture Fund, and Fireside Ventures.
Fitterfly offers personalized wellness programs focused on diabetes care and weight loss, leveraging a combination of human and technological interventions. Keep reading to explore the intricacies of Fitterfly's fundraising journey and the investors backing this innovative platform.
What Is Fitterfly?
Fitterfly is a health-tech company based in Mumbai, Maharashtra, India, specializing in digital therapeutics for managing metabolic health conditions such as diabetes, obesity, and heart health. The company offers personalized wellness programs that combine technology and scientific principles to provide comprehensive health solutions.
Founded with a mission to improve metabolic health, Fitterfly has grown to an employee count of 251-500. The company has been acquired by PB Healthcare Services and operates as a private entity. It has raised funding through Series A rounds and is supported by notable investors.
How Much Funding Has Fitterfly Raised?
- Series A
- Amount Raised: USD 12,000,000
- 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 the technology stack, strengthen research, launch new verticals in heart health, and grow the customer base.
- Seed
- Amount Raised: USD 3,100,000
- Date: April 2021
- Lead Investors: Fireside Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at initial scaling and development efforts.
- Seed
- 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 scaling and development efforts.
Total Amount Raised: USD 15,100,000. 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. This investment in Fitterfly is their first healthtech investment in India.
- Investment Focus Areas: SMB digitization, agriculture, healthcare start-ups
- Notable Investments: Fitterfly
- Fireside Ventures
- Details: Fireside Ventures is a venture capital firm co-led by Kanwaljit Singh, focusing on consumer brands and technology-driven companies. They have shown confidence in Dr. Arbinder Singal's experience and the potential of Fitterfly.
- Investment Focus Areas: Consumer brands, technology-driven companies
- Notable Investments: Fitterfly
- Venture Catalysts
- Details: Venture Catalysts is an integrated incubator that provides funding, mentorship, and networking opportunities to startups. They have been involved in multiple funding rounds for Fitterfly.
- Investment Focus Areas: Early-stage startups, technology, healthcare
- Notable Investments: Fitterfly
- 4point0 Health Ventures
- Details: Founded by Nihar Parikh, 4point0 Health Ventures focuses on investing in innovative healthtech startups. They participated in Fitterfly's Series A funding round.
- Investment Focus Areas: Healthtech, digital therapeutics, medical devices
- Notable Investments: Fitterfly
- 9 Unicorns
- Details: 9 Unicorns is an accelerator fund that invests in early-stage startups across various sectors. They were part of the investor group in Fitterfly's Series A funding round.
- Investment Focus Areas: Early-stage startups, technology, healthcare
- Notable Investments: Fitterfly
What's Next for Fitterfly?
Fitterfly stands at the cusp of significant growth, driven by the expansion of its digital therapeutics program, Diabefly, and the launch of new verticals in heart health. With a robust technology stack and a focus on personalized care, the company is well-positioned to tap into the burgeoning healthtech market, projected to reach $5.5 billion by 2025.
Future fundraising opportunities appear promising as Fitterfly continues to scale its operations and enhance its clinical insights. The backing from major investors like Amazon Smbhav Venture Fund and Fireside Ventures underscores the potential for additional investment rounds, possibly leading to strategic partnerships or acquisitions.
However, the path ahead is not without challenges. Fitterfly must navigate intense competition, ensure scalability, and maintain the quality of its digital therapeutics programs. Regulatory compliance and data privacy will also be critical as the company expands its reach and impact in the chronic disease management space.
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