Healthtech Startup BeatO Raises Rs 42 Cr In Pre-Series B Investment Led By W Health Ventures
- ByStartupStory | July 7, 2021
BeatO, Delhi-NCR based healthtech platform has raised Rs. 42 crores in funding led by US-based venture capital firm W Health Ventures. The funding has seen participation from PharmEasy, Merisis VP, and existing investors Leo Capital, Orios VP, and others.With this investment, Pharmeasy is also seeking partnership with BeatO towards building technology and new products to improve the health outcomes of patients with chronic conditions across both platforms. Asper company’s statement, the funding will be used towards increasing the subscriber base across multiple channels and geographies, and product enhancement to provide care for more cardiometabolic conditions. With this new round of funding, BeatO’s total funding touches Rs 75 crore.
The platform provides real-time monitoring through its IoT connected devices and app ecosystem to allow AI-driven personalised insights, and proactive intervention by doctors and health coaches to patients with chronic conditions such as diabetes. Gautam Chopra, Co-founder and CEO, BeatO said on funding that, “Diabetes and Hypertension have been the major killers in this pandemic. The situation looks even more grave when you consider that out of the 200 million Indians who have these conditions, 80 percent have uncontrolled levels.” He further added, “With our holistic tech-based solution that supports end to end management for these conditions, we have a proven product and technology with a highly engaged and rapidly growing member base. We welcome our new partners in our exciting journey as we continue to address this large problem and positively impact millions of lives,”
BeatO platform has risen to 500,000 app installs and 300,000 paid members (including 25,000 paid members every month). Revenues have increased by 600 % in the last year, and the company is tracking at an annual gross revenue run-rate of Rs 70 crore. “We’re impressed with BeatO’s unparalleled patient experience and outstanding clinical results. The company’s exponential growth is driven by its ability to transcend geographical and socio-economic barriers to also reach Tier-II and III cities in India, where access to diabetes care is generally limited. We’re thrilled to join the BeatO team in this exciting journey of making affordable, accessible, and world-class diabetes care a reality for millions of Indians,” said Dr Pankaj Jethwani, Executive Vice President at W Health Ventures.
Follow Startup Story
Related Posts
