Diabetes-care start-up BeatO secured $33 million in round B fundraising, which was led by Lightrock and included Flipkart, HealthQuad, and existing backers such as Orios Venture Partners, Leo Capital, W Health Ventures, and Blume Ventures.
The money will be used to grow the company, improve the leadership team, and make investments in new technologies and products.
Gautam Chopra, co-founder and CEO of BeatO, said,“Our digital first solution, BeatO, is well positioned to lay the new standards of how care will be delivered in the future to millions of Indians. We are pleased to have a fantastic set of partners joining us on the journey who deeply resonate with our vision and bring solid capabilities to help us achieve our goal,”.
“Through this investment in BeatO, Flipkart ventures is committed to supporting a business that is building next-generation innovations and evolving the digital health ecosystem. BeatO, with its holistic, differentiated and affordable digital care solution, is well placed to address the rising diabetes epidemic in India” stated Ravi Iyer, Senior Vice President and Head of Corporate Development at Flipkart.
The company, which currently serves over 1,500,000 members, claims to have grown three times in the past year and plans to serve over 10 million patients by 2025.
Tejasvi Ravi, who oversees healthcare investments at Lightrock, stated, “BeatO is on an ambitious mission to re-design how diabetes is cared for in India. They are a world-class team that have demonstrated the ability to deliver consistent, high-quality and empathetic care resulting in clinical outcomes that are outstanding,”. “BeatO’s full-stack integrated platform approach focused on diabetes care solves for accessibility, affordability and quality issues. Device-first engagement with clinical outcome backed Care Program solution aims to sustainably manage diabetes for the patients. BeatO is providing care across the continuum of monitoring, control and reversal. We remain committed to partnering with innovation-first firms providing access to quality care” stated Ajay Mahipal, Director of HealthQuad.