Diabetes management platform BeatO has raised $33 million in its Series B round of funding led by Lightrock India. The startup had raised had also raised INR 42 crore ($5.6 million) in its previous round led by US-based venture capital firm W Health Ventures.
It’s mission is to make managing chronic conditions easy, affordable and accessible for everyone and its vision to be default health management ecosystem for people across the world.
The digital care platform also saw the participation from its existing investors including healthcare focused investor HealthQuad and e-commerce Flipkart’s VC arm, Flipkart Ventures among others.
The funds will be utilized to expand diabetes care programs across the country, invest in strengthening leadership team and also to improve BeatO’s product and technology.
It is operated by Delhi-based Health Arx Technologies Pvt. Ltd, founded in 2015 by Yash Sehgal, Abhishek Kumar and Gautam Chopra. Through a mobile app, the startup offers a comprehensive diabetes management and care platform via its glucose-monitoring solutions.
“BeatO aims to re-design how diabetes is cared for in India. They are a world-class team that have demonstrated the ability to deliver consistent, high-quality and empathetic care resulting in clinical outcomes that are outstanding” said Tejasvi Ravi, who leads healthcare investments at Lightrock India.
BeatO’s real-world evidence-based studies have been published in global forums such as the prestigious American Diabetes Association (ADA), International Diabetes Federation (IDF) and at the Advanced Technologies and Treatment for Diabetes (ATTD). The startup aims to serve over 10 million patients by 2025.
BeatO recently announced the appointment of Siddharth Sehgal as its new CFO. According to them, Sehgal comes with more than a decade of leadership experience and 20 years of rich and diverse experience in M&A, financial planning and analysis, tax and regulatory matters. He will be responsible for re-orienting the finance function commensurate with BeatO’s scale up plans and assisting in charting out long term strategy at BeatO.
