Saturday, May 18, 2024
Outlook.com
Outlook India
Outlook Business

Sugar.fit Raises $11 Million In Series A Funding Round Led by MassMutual Ventures

Sugar.fit seeks to manage and reverse diabetes through a highly consumer-centric data-driven digital health experience

Sugar.fit Raises $11 Million In Series A Funding Round Led by MassMutual Ventures
Funding

Start-Up Team

POSTED ON October 31, 2023 4:28 PM

Sugar.fit, a health-tech start-up has announced its $11 million Series A funding round today. The funding was led by MassMutual Ventures with participation from existing investors including Cure.fit, Tanglin Venture Partners, and Endiya Partners. The fresh capital will be used to expand the company’s product offering, launch an offline presence, and accelerate research and development in the field of diabetes management, accelerating the brand’s footprint and growth, a statement issued by the company read. 

The company offers a diabetes care program by integrating a variety of devices such as continuous glucose monitors, fitness trackers, and other health diagnostics and providing easy access to diabetes specialists and health coaches. This enables users to track the real-time impact of their lifestyle on glucose levels, and receive personalised, timely guidance across the aspects of fitness, nutrition, and sleep from their care team. 

Madan Somasundaram, co-founder and CEO of Sugar.fit said, "This investment will enable us to further enhance our technology and expand our reach across India, ultimately helping more people take control of their diabetes and improve their health.” 

Anvesh Ramineni, managing partner at MassMutual Ventures said, "The team’s approach to diabetes management combines hardware, software, and analytics to deliver a personalised program and drive lasting behavioral change for better health outcomes. We believe Sugar.fit will transform the health of millions, while battling the increasing incidence of diabetes in India." 

Mukesh Bansal, founder of Cure.fit said, "We are very proud of the progress Sugar.fit has made in the last two years. This is the best team in this space with the strongest diabetes reversal metrics." 

Founded in 2021, Sugar.fit initially raised $10 million in a seed funding round and has since proven exceptional growth. In the last 18 months, the brand has witnessed eightfold growth in paid subscribers and currently serves more than 25,000 users on its platform. 

  • Related Articles

    The company has claimed that its QR platform has already acquired 27,000 subscribers pan-India, in a time span of around four months

    Healthtech Platform Suraksha QR to Serve the Healthcare Needs of Five Lakh Indians

    The company will utilise the fund to develop new products and expand in new geographies

    Healthtech Start-Up ‘WatchYourHealth’ Raises $2.2 Million From Conquest Global

    Bonatra has plans to introduce newer IoMT devices including a smart ring in the Indian market to further strengthen its solutions which are a convergence of medical science, data science and...

    Healthtech Start-up Bonatra Acquires Women’s Health and Wellness Start-up MyAva