Healthtech start-up BeatO raises $33 mn in Series B from Lightrock

Firm provides affordable diabetes care with a focus on people who don't have access to specialists

Diabetes-care start-up BeatO has raised $33 million in series B funding led by Lightrock with participation from HealthQuad, Flipkart and existing investors which include Orios Venture Partners, Leo Capital, W Health Ventures, Blume Ventures, among others.

The funds will be used to expand their business, strengthen their leadership team and to invest in their products and technology.

“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,” said Gautam Chopra, co-founder and CEO of BeatO.

The company claims to provide affordable diabetes care with a focus on people who do not have access to specialists to treat the disease.

Ravi Iyer, Senior Vice President and Head - Corporate Development, Flipkart, said, "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.

Currently serving more than 1,500,000 members, the company claims to have grown 3x in the last one year and aims to serve over 10 million patients by 2025.

“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,” Tejasvi Ravi, who leads healthcare investments at Lightrock added.

Ajay Mahipal, Director, HealthQuad said, “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.