BeatO, a comprehensive digital care platform for controlling and reversing Diabetes, has raised $33 million in Series B funding led by Lightrock India along with the participation from HealthQuad, Flipkart Ventures, and existing investors.
BeatO provides an affordable digital solution for people with diabetes who have limited access to good quality and continuous care. BeatO has over 70 per cent of its users coming from Tier 2 cities and beyond, and 55 per cent of their users have never used a blood glucose monitoring device previously. Currently serving more than 15 lakh members, the company said it has grown 3X in the last year.
In its mission to ensure affordability and access to specialist care, BeatO has also started to forge strategic partnerships with major ecosystem players from the insurance and pharmaceutical sectors. The fresh funds will be utilized to expand BeatO’s diabetes care programs pan-India, invest in strengthening their leadership team, and to further invest in BeatO’s product and technology.
Commenting on the new funding, Gautam Chopra, Co-Founder & CEO – BeatO said, “With our digital first solution, BeatO is well positioned to lay the new standards of how care will be delivered in the future to millions of Indians. We are pleased to have a fantastic set of partners joining us on the journey who deeply resonate with our vision and bring solid capabilities to help us achieve our goal.”
Tejasvi Ravi, who leads healthcare investments at Lightrock India added, “BeatO is on an ambitious mission 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.”
Ajay Mahipal, Director, HealthQuad said “BeatO’s full-stack integrated platform approach focused on diabetes care solves accessibility, affordability, and quality issues. Device-first engagement with clinical outcome-backed Care Program solution aims to sustainably manage diabetes for patients. BeatO is providing care across the continuum of monitoring, control, and reversal. We remain committed to partnering with innovation-first firms providing access to quality care.”
Speaking on the investment, Ravi Iyer, Senior Vice President and Head - Corporate Development, Flipkart, said, “Through this investment in BeatO, Flipkart Ventures is committed to supporting a business that is building next-generation innovations and evolving the digital health ecosystem. BeatO, with its holistic, differentiated and affordable digital care solution, is well placed to address the rising diabetes epidemic in India.”