Diversified conglomerate Sistema’s Asia Fund led a $12m series B round for India-based nutrition and fitness app developer HealthifyMe yesterday that included Samsung Next, part of electronics manufacturer Samsung.
The round also featured consulting and investment firm Dream Incubator, diversified holding company Nava Bharat Ventures, Atlas Asset Management, IDG Ventures India, Inventus Capital Partners and Blume Ventures.
Founded in 2012, HealthifyMe has created a mobile app with more than 4 million registered users, including 1 million monthly active users, that tracks the nutritional content of each user’s diet as well as the effectiveness of their fitness routines.
The platform also connects to a large database of foods, enables users to set performance targets related to wellness, and allows users to connect and speak to qualified personal trainers and nutritionists.
The company has expanded into several Middle Eastern countries and the funding will help it launch in additional markets.
The cash will also support the development of products focused on health food, diagnostics and insurance, and the improvement of HealthifyMe’s artificial intelligence and data science technology.
HealthifyMe was incubated within the India branch of software producer Microsoft’s Accelerator, before attracting an undisclosed amount from mobile device maker Micromax Informatics and unnamed angel investors in 2015.
The company subsequently received $6m in an early 2016 series A round co-led by IDG Ventures India, Inventus Capital, Blume Ventures and Nava Bharat Ventures.