BeatO, Delhi-based health tech startup, a comprehensive platform dedicated to diabetes solutions has raised $1.3 Mn in funding, led by Leo Capital and co-led by Blume Ventures.
Gautam Chopra, co-founder, and CEO, BeatO stated,
“We are extremely excited to associate with partners like Leo and Blume. India is expected to have 100M diabetics by 2030. This puts a tremendous pressure on all stakeholders in the healthcare ecosystem both from a cost and well-being perspective to specially cater to this large demographic. This funding is a reinforcement to the fact that we are solving a problem of massive scale.”
BeatO was Founded in 2015 by Gautam Chopra, Yash Sehgal, and Abhishek Kumar, BeatO uses a smartphone-based glucometer for blood glucose monitoring. The platform currently serves 25,000 active customers in multiple cities and is currently achieving about 5,000 transactions a month.
Rajul Garg, the founder of Leo Capital, said,
“India is the diabetes capital of the world. We have looked deeply at chronic disease solutions and BeatO has been able to demonstrate an approach that diabetics find useful month over month. BeatO’s focus on a solution very unique to India is what attracted us”.
BeatO had previously raised an angel round of funding from a few individual investors including Rajeev Chitrabhanu, an early investor in Nazara Technologies, Rentomojo and Vishal Sampat, who besides being an angel investor was also the founder of Convonix, India’s largest digital agency acquired by Publicis. The company claims to have grown 10X in revenue within the last one year.
India tops the list of countries with the highest number of diabetics and is expected to rise by more than 100% in the year 2030 to account for a whopping 79.4 Mn according to WHO data. Besides BeatO, Fitternity, Wellthy Therapeutics, and PharmEasy are some other health tech startups which provide diabetes care solutions.