IDG Ventures India, the local venture capital affiliate of media company International Data Group, has participated in a $15m series A round for India-based health management app developer Curefit Healthcare, VCCircle reported yesterday.
Venture capital firms Accel Partners and Kalaari Capital invested alongside IDG Ventures in the round. Vani Kola, managing director of Kalaari Capital, will join Curefit’s board of directors in conjunction with the funding.
Incorporated in May 2016, Curefit is working on an app that combines user engagement, coaching and care delivery to help people manage their health proactively. It will cover nutrition, diagnostics, fitness, mental health and meditation, and will include a curated marketplace.
The company’s founders have not yet determined whether the app, due to launch early next year, will generate cash through subscriptions, commissions or flat fees. Curefit will spend the money on product development and strengthening its technology base.
Ankit Nagori, co-founder of Curefit, told VCCircle: “With our business model, which aims to provide a full-stack solution of advisory as well as fulfilment services, I do not think there is room for any other service in the near future.
“In the future there could be an opportunity of targeting people who are not well to get fit. Right now, the focus is on the ones who are trying to be fit.”