Fitness and health tech start-up HealthifyMe said it had raised $12 million in a Series-B funding round led by Sistema Asia Fund, a venture fund of Russian business conglomerate Sistema.
Silicon Valley-based Samsung NEXT, Singapore’s Atlas Asset Management and Japan’s Dream Incubator are the other participants in this round of financing.
‘Goal of largest service’
Existing investors IDG Ventures India, Inventus Capital, Blume Ventures and Dubai-based NB Ventures, also participated in this round. “Our vision is to build the world’s largest online health and fitness service,” said Tushar Vashisht, chief executive officer of HealthifyMe, in a statement.
The company said it intended to use the fresh round of funds to deepen its presence in India, through offering health foods, diagnostics and insurance products beyond its digital nutrition and fitness services portfolio.
It said it also hoped to enter other emerging markets. The company said it planned to use the funds raised to further improve its artificial intelligence and data science capabilities.
