Healthtech platform BeatO on Wednesday said it has raised Rs 42 crore in funding led by US-based venture capital firm W Health Ventures.
The funding also saw participation from PharmEasy, Merisis VP and existing investors Orios VP, Leo Capital and others, BeatO said in a statement.
With the new funding, BeatO has raised Rs 75 crore over the last year across its Series A and Pre-series B rounds, it added.
The fresh funds will be utilized across two key areas – growth in subscriber base across multiple channels and geographies, and product enhancement to provide care for other cardiometabolic conditions, BeatO said.
BeatO Co-Founder & CEO Gautam Chopra said diabetes and hypertension have been the major killers in this pandemic. The situation looks even more grave when you consider that out of the 200 million Indians who have these conditions, 80 per cent have uncontrolled levels.
With the company's holistic tech-based solution that supports end-to-end management for these conditions, it has a proven product and technology with a highly engaged and rapidly growing member base, he added.
Executive Vice President at W Health Ventures Pankaj Jethwani said, "We''re thrilled to join the BeatO team in this exciting journey of making affordable, accessible, and world-class diabetes care a reality for millions of Indians."