India-based health management platform HealthifyMe has secured $75m in series C funding from investors including consumer product manufacturer Unilever and diversified conglomerate Sistema, the Economic Times has reported.
Investment firm Leapfrog, private investor Vinod Khosla and Elm, a public investment fund owned by Saudi Arabia’s Ministry of Finance, co-led the round, which also featured Chiratae Ventures, HealthQuad and Inventus Capital.
Unilever and Sistema participated through subsidiaries Unilever Ventures and Sistema Asia Capital respectively.
Incubated by software producer Microsoft’s Accelerator in 2012, HealthifyMe has built an artificial intelligence-powered health and fitness mobile app that helps users track their calorie intake and exercise activity.
The company will use the funding to enhance its technology, recruit senior-level employees, make strategic acquisitions and enter new markets including Southeast Asia and North America, co-founder and chief executive Tushar Vashisht, told ET. It said it has now raised more than $100m in total.
Sistema Asia Capital and Samsung Next, a subsidiary of electronics producer Samsung, had joined Chiratae Ventures, Inventus Capital, Innoven Capital and Blume Ventures to provide $6m in series B funding for HealthifyMe in November 2018.
HealthifyMe had closed the first $12m tranche for its series B round nine months earlier, taking funding from Sistema Asia Fund, Samsung Next, diversified holding company Nava Bharat Ventures, Chiratae (then known as IDG Ventures India), Inventus, Blume, Dream Incubator and Atlas Asset Management.
Nava Bharat Ventures, IDG Ventures India, Inventus Capital and Blume Ventures had co-led a $6m series A round in 2016, after the company raised an undisclosed sum from mobile device manufacturer Micromax Informatics and unnamed private investors the previous year.
