Healthtech startup, BeatO has raised $1.6 Million (INR 11.75 Cr) in Pre-Series A funding round led by Orios Venture Partners, a Mumbai-based venture capital. Other existing investors- Blume Ventures and Leo Capital also participated in the funding round.
BeatO is a mobile-based Diabetes Care and Management App which helps in motivating a diabetic to increase compliance and reduce their expenses.
The startup is founded in 2015 by Gautam Chopra. The ‘O’ in BeatO refers to diabetes that relates to beat diabetes with the diet and some accurate measures with the help of the smartphone-based glucometer for monitoring blood glucose.
The application helps users to record their readings and also helps in connecting with the doctors for real-time guidance. The platform sends instant alerts to the family based on the readings. The company offers diabetes management programmes that include activities like regular exercise, controlled diet and a lot more.
The health-tech platform contains a section of the video and written content in Hindi and English that consists of doctor tips, Yoga workshops, and recipes for diabetes management.
BeatO has raised a total of $3M and competes with Glooko, Changing Health, and Livongo.
With the fund raised, the startup plans to expand the product line for its flagship glucometer. Apart from this, it wants to expand the services into the FMCG and retail categories.
Gautam Chopra, co-founder, BeatO stated that “As a company, we are on a mission to scale up a credible full stack tech-enabled ecosystem for those with diabetes and, help them meet all of their specific needs to lead a healthy life. With increase in the disposable income in the Indian middle-class, we foresee an increase in the discretionary spends. For a diabetic, we expect this to be channelled into personal management solutions and more consumption of customized food and retail products.”
In April 2018, the startup has raised $1.3 Million led by Leo Capital and Blume Ventures and scaled up the production to enhance the technology and innovations focusing on diabetic issues.