New Delhi-based diabetes care and management app BeatO has raised ₹11.75 crores ($1.6 million) in pre-series A round of funding from Mumbai-based VC firm Orios Venture Partners. Existing partners Blume Ventures and Leo Capital also participated in the funding round. BeatO will use the funds to expand to the product line for its flagship glucometer.
Founded by Gautam Chopra, Yash Sehgal and Abhishek Kumar in 2015, the healthcare startup provides a diabetes care and management app which uses a smartphone-based glucometer to determine and monitor blood sugar levels. A user can keep a record of their readings and connect with doctors and experts in real time to get guidance. The app also sends out instant alerts to family members if the readings are critical.
The startup also provides various diabetes management programmes which help patients to indulge in self-management activities like regular exercise, diet plans and more to curb their illness. Using the fresh capital, the BeatO is planning to expand its services to FMCG and retail categories. A part of the fund will also be invested in its R&D as well as upgrading its platform which includes auto-suggestions based on blood glucose level.
Earlier in April 2018, the startup raised ₹9.1 crores ($1.3 million) from Leo Capital and Blume Ventures. Individual investors like Rajeev Chitrabhanu, who is also an investor in Nazara and Rentomojo, and Vishal Sampat, founder of Convonix also invested in BeatO. The startup has raised a total of ₹21 crores ($3 million) since its inception.