Healthtech Startup Sugar.fit Secures an Additional USD 5 Mn in Series A Led by B Capital The Bengaluru-based startup wants to accelerate research and development in diabetes management while broadening Sugar.fit's product offering and technological stack.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Sugar.fit, a health-tech startup focused on addressing type-2 diabetes and prediabetes has announced the raising of an extra USD 5 million in Series A round led by B Capital.
MassMutual Ventures and existing investors including Tanglin Venture Partners, Endiya Partners, and Cure.Fit (now Cult.fit) also participated in the round.
It raised USD 11 million in its Series A investment headed by MassMutual Ventures in October of last year. The total Series A funding now stands at USD 16 million.
The fresh funding will be used to expand Sugar.fit's technology stack and product range, increase brand presence, and speed up research and development in diabetes management.
Madan Somasundaram, Co-founder and CEO of Sugar.fit said, "Health habits of consumers have changed over the past few years and the need for a new tech-driven approach is paramount for sustainable health outcomes. Sugar.fit has created a unique platform to help meet this demand and to become the go-to destination in all diabetes needs for India. Leveraging deep tech and a strong on-ground network, we aspire to service millions of people in the next few years."
Founded in 2021 by Madan Somasundaram and Shivtosh Kumar, Sugar.fit is a healthtech startup that seeks to manage and reverse diabetes through a consumer-centric data-driven digital health experience. Diabetes doctors and nutritionists use devices such as continuous glucose monitors, fitness trackers, and health diagnostics to monitor the real-time impact of users' lifestyles on their glucose levels.
The startup claims that in the past 18 months, its paid subscriber base has grown significantly, and it now serves over 30,000 people on its platform.
Additionally, the business has developed an omnichannel presence. Having begun in Bengaluru, it currently runs seven diabetes clinics with doctors in diabetes care across the city.
Karan Mohla, General Partner at B Capital said, "India faces the challenge of managing a dual disease burden, marked by the increasing prevalence of chronic care conditions, notably diabetes. Despite significant investments in healthcare, we continue to grapple with the enduring challenges of access, affordability, and quality, known as the 'Iron Triangle'. Under the leadership of Madan and Shivtosh, Sugar.fit is dedicated to fostering sustainable healthcare outcomes, supported by a comprehensive approach to distribution across multiple channels and outstanding growth metrics."
