Sugar.fit, a Bangalore, India-based health-tech startup focused on addressing Type 2 diabetes and prediabetes, raised additional $5M in Series A funding.
The round, which brought the total amount to $16M, was led by B Capital with previous participation from MassMutual Ventures and existing investors including Tanglin Venture Partners, Endiya Partners, and Cure.Fit.
The company intends to use the funds to expand its technology stack and product range, increase brand presence, and speed up research and development in diabetes management.
Led by CEO Madan Somasundaram, Sugar.fit is a Health Tech startup that seeks to manage and reverse diabetes through a consumer-centric data-driven digital health experience. It uses continuous glucose monitoring technology (CGM), which helps users see real-time impact of various food and lifestyle activities on their blood sugar level to optimize metabolic health.
The company has also established an omnichannel presence, starting in Bangalore, and now operates 7 Diabetes Clinics with doctors in diabetes care across the city. These clinics aim to enhance the brand’s visibility while offering a range of wellness therapies for stress management, live fitness and yoga sessions, VR chromotherapy, and more.
Commenting on the news, Madan Somasundaram said: “We are grateful to have B Capital join hands with us at Sugar.fit and for the trust and support our existing investors have in us. Health habits of consumers have changed over the past few years and the need for a new tech-driven approach is paramount for sustainable health outcomes. Sugar.fit has created a unique platform to help meet this demand and to become the go-to destination in all diabetes needs for India. Leveraging deep tech and a strong on-ground network, we aspire to service millions of people in the next few years.”
FinSMEs
13/03/2024