Sistema Asia-led group invests $12 mn in fitness startup HealthifyMe

Mobile health and fitness platform, HealthifyMe on Friday announced the close of a $12 million Series B round of funding led by Sistema Asia Fund, India focused fund of Russia's largest Conglomerate.

Silicon Valley-based Samsung NEXT, Singapore's Atlas Asset Management and Japan's Dream Incubator are the other participants in the funding alongside existing investors IDG Ventures India, Inventus Capital, Blume Ventures and Dubai based NB Ventures.

HealthifyMe intends to use the fresh round of funding to deepen its presence in India by offering health foods, diagnostics and insurance products beyond its digital nutrition/fitness services portfolio, the company said in a release.

HealthifyMe also hopes to enter other emerging markets, it said.

The Rainmaker Group was the advisor to the company on the transaction for which the term sheet was signed in October 2017, the release said.

HealthifyMe has grown 3.5 times in 2017 to 4 million users, spread to over 200 cities, and is booking $4.5 million in ARR (Annualized Run Rate) revenue, it added.

With more than a million monthly active users, HealthifyMe enjoys about 10 per cent of the Indian market share in the health/fitness category as per AppAnnie, it said.

HealthifyMe users have tracked 200 million foods, workouts and exchanged 10 million messages with their nutritionists and trainers, it said.

The HealthifyMe app itself has also become the highest rated app on Google Play in India achieving a rating of 4.6 and Googles Best app of 2017 recognition - third year running, it added.