HealthTech Firm BeatO Raises $33 Mn In Series B Led By Lightrock India The company aims to serve over 10 million patients by 2025
By Soumya Duggal •
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Digital Diabetes care platform BeatO has raised $33 million in Series B funding led by Lightrock India and with participation from HealthQuad, Flipkart Ventures and existing investors.
The fresh funds will be utilized to expand BeatO's diabetes care programs across India, strengthen the leadership team and further advance its product and technology, said a statement. The company aims to serve over 10 million patients by 2025.
Founded by Gautam Chopra, Yash Sehgal and Kunal Kinalekar, the startup provides affordable, comprehensive and patient-centric digital solutions to people with diabetes who have limited access to good quality and continuous care.
BeatO is expanding the diabetes care market, with over 70 per cent of its users coming from Tier 2 cities and beyond, and 55 per cent of its users never having used a blood glucose monitoring device previously, claims the company. Currently serving more than 15 lakh members, the company has grown three times in the last one year, BeatO further claims.
"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," said BeatO co-founder and CEO Gautam Chopra.
"BeatO is on an ambitious mission to re-design how diabetes is cared for in India. They are a world-class team that have demonstrated the ability to deliver consistent, high-quality and empathetic care resulting in clinical outcomes that are outstanding," said Tejasvi Ravi, who leads healthcare investments at Lightrock.
The company's evidence-based studies have been published in reputed global forums such as the American Diabetes Association (ADA), International Diabetes Federation (IDF) and at the Advanced Technologies and Treatment for Diabetes (ATTD).
"These are globally amongst the largest population-based studies and highlight BeatO's ability to drive best in class clinical outcomes for hyperglycemia, hypoglycemia, weight reduction and positive perception towards digital diabetes care across different cohorts of age groups, gender and nature of diabetes. On average BeatO users witness a 1.8 percentage points drop in their eHbA1c over a 90-day period," stated the company.
BeatO's existing marquee investors include Orios Venture Partners, Leo Capital, W Health Ventures, Blume Ventures, Pharmeasy, Alteria and others.
