Total amount raised
$47.4 Millions
Latest funding date
11/1/2022
Location
BeatO has successfully raised significant funding through multiple rounds, with notable investors such as Orios Venture Partners and PharmEasy backing the company. The platform focuses on diabetes management, offering a range of services from doctor consultations to specialized care programs.
Keep reading to explore the intricacies of BeatO's fundraising journey and the investors supporting this innovative health monitoring application.
What Is BeatO?
Founded in 2015, BeatO is a New Delhi-based company specializing in diabetes management. The company was established by Abhishek Kumar, Gautam Chopra, Kunal Kinalekar, and Yash Sehgal.
BeatO offers a comprehensive health monitoring application designed to help diabetic patients track their glucose levels. Their services include doctor consultations, specialized care programs, and a range of diabetes-friendly products.
With a team of 251-500 employees, BeatO continues to innovate in the healthcare sector, providing real-time guidance and continuous care for its users.
How Much Funding Has BeatO Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: April 13, 2016
- Lead Investors: Rajeev Chitrabhanu (MAGNETIC)
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the BeatO platform and launch its services.
- Seed Round
- Amount Raised: $1.3M
- Date: April 5, 2018
- Lead Investors: Blume Ventures, Leo Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the technology platform.
- Seed Round
- Amount Raised: ₹117.5M
- Date: March 19, 2019
- Lead Investors: Orios Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Series B
- Amount Raised: ₹420M
- Date: July 7, 2021
- Lead Investors: W Health Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand diabetes care programs and enhance product offerings.
- Debt Financing
- Amount Raised: ₹270M
- Date: April 27, 2022
- Lead Investors: W Health Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and product development.
- Debt Financing
- Amount Raised: ₹180M
- Date: September 10, 2022
- Lead Investors: Alteria Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the business and enhance technological capabilities.
- Series B
- Amount Raised: ₹2.7B
- Date: November 16, 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand diabetes care programs across India and strengthen the leadership team.
Total Amount Raised: ₹3.96B
Current Valuation: Not publicly disclosed
Key Investors
- Lightrock India
- Details: Lightrock India is a global private equity firm that focuses on sustainable and scalable businesses. They led the Series B funding round for BeatO.
- Investment Focus Areas: Healthcare, sustainable energy, education.
- Notable Investments: Not publicly disclosed.
- HealthQuad
- Details: HealthQuad is a venture capital firm specializing in healthcare innovation and technology. They participated in the Series B funding round for BeatO.
- Investment Focus Areas: Healthcare innovation, health technology.
- Notable Investments: Not publicly disclosed.
- Flipkart Ventures
- Details: Flipkart Ventures is the investment arm of Flipkart, one of India's largest e-commerce companies. They participated in the Series B funding round for BeatO.
- Investment Focus Areas: E-commerce, technology, digital innovation.
- Notable Investments: Not publicly disclosed.
- Orios Venture Partners
- Details: Orios Venture Partners is a venture capital firm that invests in early-stage startups. They have been an existing investor in BeatO.
- Investment Focus Areas: Early-stage technology, consumer businesses.
- Notable Investments: Not publicly disclosed.
- Blume Ventures
- Details: Blume Ventures is a venture capital firm that focuses on early-stage investments across various sectors. They have been an existing investor in BeatO.
- Investment Focus Areas: Early-stage technology, innovation.
- Notable Investments: Not publicly disclosed.
What's Next for BeatO?
BeatO is poised to capitalize on the growing demand for digital health solutions, particularly in diabetes care. With a mission to serve over 10 million patients by 2025, the company is focusing on expanding its reach in Tier 2 cities and beyond, where access to quality healthcare is limited. This expansion presents a significant opportunity, given that India is on track to become the diabetes capital of the world, with over 200 million people at risk.
To support this ambitious growth, BeatO is likely to seek additional funding rounds. The company has already demonstrated its ability to attract significant investment, and future rounds could further enhance its technological capabilities and market reach. However, scaling operations while maintaining high-quality care and navigating regulatory requirements will be critical challenges. Ensuring data privacy and competing with other digital health platforms will also be key hurdles as BeatO continues its journey.
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