Indian health and wellness startup HealthifyMe has secured a significant amount of funding to support its growth and innovation in the industry. The company recently raised $30 million (including a venture debt of ~$5 million) in a pre-Series D funding round, led by impact investor LeapFrog Investments and OpenAI investor Khosla Ventures.
But there is a catch, the recent funding round for HealthifyMe has been raised as a convertible note, pegged to the next round of funding. This means that the funding will not have an immediate impact on the company's current valuations – which in fact still remain undisclosed by HealthifyMe. In 2021, it raised $75 million in a Series C round, bringing its total funding to $130 million to date.
Founded in 2012 by Vashisht and Mathew Cherian, HealthifyMe has established itself as a leading player in the health and fitness industry. The company's innovative approach combines AI technology with human experts to deliver measurable results in areas such as eating habits, fitness, and weight management.
The approach which has proven effective in delivering personalized health solutions and driving positive outcomes for its users has seen its user base grow to over 35 million putting the startup and is on track to achieve $50 million in annual recurring revenue (ARR) in the near future. Also, its platform has helped users collectively lose over 30 million pounds of weight and track billions of foods, while burning over 66 billion calories.
Now, HealthifyMe says the funding will enable it to further enhance its coach-facing system with generative AI to create “a strong nutritionist & trainer copilot. It will also be used to attract top talent and pursue global expansion.