Mobile Health Company Grow Fit has secured $4.5 million in Series A funding led by MEMG (Manipal Education and Medical Group), the PE arm of the Manipal Group. The round also saw the participation of SAR Group and The Grover Trust, the company’s seed investors.
With this investment, Dr. Ranjan Pai, the MD & CEO of MEMG, will be joining the Board of Directors.
On the investment, Dr. Ranjan Pai said:
Grow Fit has the right approach to reach the millions of Indians who can benefit from better nutrition and coaching. I was impressed by their novel approach, their investment in R&D and their technology platform. Indians need to make drastic changes to their health habits and Grow Fit makes it effortless for them. This is a huge opportunity and we are looking forward to unlocking it
On the development, K Ganesh, Partner, Growth Story, said:
Companies which have the right genes can always raise funding, even in a somewhat tight market. Grow Fit’s laser-like focus on customer outcomes sets it apart from others. It takes a unique dedication to go against the conventional wisdom of transactions and the team at Grow Fit has demonstrated this commitment time and again
Started in September 2015, Grow Fit is a full-stack health tech company which helps Indians achieve peak wellness through the proper amalgamation of data science, medical expertise, and personalized inputs. The company offers an approach which combines expert coaching, health food, and behavioral insights through their scalable technology platform. The company claims to have helped over 300 million Indians who are at risk of contracting lifestyle disease.
The mobile app of the company is reported to have been downloaded over 300K times (Android and iOS) and more than 150K diet charts have been generated for users. The company uses data science and machine learning to identify and validate strategies for customer success. The company claims to have over 80% success rate.
On the company, Jyotsna Pattabiraman, Founder, and CEO at Grow Fit said:
Grow Fit combines data science, medical science and behavioural insights to help people achieve their health goals and live their best lives. We are an outcome-oriented company and have always stressed a science-and-data approach. I am delighted that leading professionals from the Manipal Hospital have validated our approach. Grow Fit now has the backing of one of the top medical groups in the country and we are excited about the next phase of growth with this investment
The company’s comprehensive approach addresses all aspects of wellness which include nutrition, activity, skin/hair, sleep, and mental wellness. Through their expert platform, users across India are connected with experts chosen based on their clinical/scientific background and experience with lifestyle diseases. The company also claims to have gone beyond advice to cover the last mile, formulating foods that have been shown to improve health metrics significantly in a matter of weeks.
Kris Gopalakrishnan, Co-Founder, Infosys and an early investor in Grow Fit, commented:
Grow Fit has the ability to address both national and international markets. As prosperity increases globally, our nutritional habits have to compensate for our sedentary lifestyle and dependence on fast foods. Grow Fit has a relevant model that could address this gap and be effective anywhere in the world
Grow Fit recently also expanded into the Functional Beverages segment with the acquisition of Drink King. The company is a nutritional beverage platform started in early 2015.
The company’s future plans include expanding solutions to fertility, joint health, stress management and more and all will be operated through the mobile. The venture also is planning to integrate different sources of data from wearable technology and medical reports in order to make the app a one-stop, comprehensive companion for wellness.