Sugar.fit, a healthtech startup, recently secured $11 million in Series A funding, with MassMutual Ventures leading the round. Additionally, the funding round witnessed active participation from previous investors, including Cure.fit, Tanglin Venture Partners, and Endiya Partners.
With the newly acquired funding, the healthtech startup plans to broaden its product range, establish a physical presence, and expedite research and development efforts in the realm of diabetes management. These strategic moves will contribute to the expansion and enhanced growth of the brand.
Madan Somasundaram, Co-Founder and CEO of Sugar.fit said, “We are more committed than ever to help people with Type 2 and pre-diabetes manage and reverse their condition. 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.”
In 2021, Madan Somasundaram and Shivtosh Kumar co-founded Sugar.fit, a healthtech company with a mission to holistically manage and potentially reverse Type 2 and pre-diabetes. Their approach is rooted in science and driven by data, providing users with a comprehensive digital health experience.
Sugar.fit offers an all-encompassing diabetes care program that integrates a range of devices, including continuous glucose monitors, fitness trackers, and health diagnostics. Additionally, it provides convenient access to diabetes specialists and health coaches.
In 2021, Sugar.fit secured $10 million in seed funding. Since then, the startup has experienced remarkable growth, boasting an impressive 8-fold increase in paid subscribers. Over the past 18 months, it has successfully catered to over 25,000 users on its platform.
As per a recent report released in the Lancet earlier this year, an estimated 101 million individuals in India, constituting approximately 11.4% of the nation’s population, are presently living with diabetes. Moreover, findings from a health ministry survey indicate that around 136 million people, approximately 15.3% of the population, might be living with pre-diabetes. Therefore, the startup could potentially play a pivotal role in tackling the diabetes epidemic in India.
Last month, Doceree, a healthtech SaaS startup, raised $35 million in its Series B funding round, with Creageis as the lead investor. Simultaneously, Zivov, another healthtech startup based in Delhi NCR, is in advanced negotiations to secure approximately $5 million in its Pre-Series A funding round.