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Healthtech Start-Up BeatO Raises Rs 18 Crore From Alteria

The start-up’s board has decided to issue 1,800 Series B non-convertible debentures at an issue price of Rs 1,00,000 per security to raise Rs 18 crore

Healthtech Start-Up BeatO Raises Rs 18 Crore From Alteria
POSTED ON September 13, 2022 7:27 AM

Delhi-based diabetes monitoring platform BeatO has raised Rs 18 crore from Alteria Capital as debt in the Series B funding round. With this, the company has received financing for the second time this year. The company raised debt worth Rs 27 crore in April this year led by existing backers W Health Global LLC, Kotak Investments, and Sage Hill Investors. 

As per a report by Entrackr, the start-up’s board has issued a resolution to 1,800 Series B non-convertible debentures at an issue price of Rs 1,00,000 per security to raise Rs 18 crore. With around three lakh paid members, the company provides an assortment of services including managing exercises, intake of medicines, diagnosis, and teleconsultation with physicians, in order to manage diabetes. 

In July last year, it partnered with the online pharmacy brand PharmEasy to build new products for chronic diseases. As per the report, BeatO’s revenue from operations surged two-fold to Rs 7.97 crore from Rs 4 crore in FY20, whereas its losses surged 33 per cent to Rs 15.24 crore in FY21 from Rs 11.45 crore during FY20.    

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