BeatO, an Indian startup in the health tech sector, has secured $33 million in Series B funding led by Lightrock. HealthQuad, Flipkart, and current investors such as Orios Venture Partners, Leo Capital, W Health Ventures, and Blume Ventures also participated in the investment round.
The startup offers a comprehensive and reasonably priced digital care platform for managing and reversing diabetes in those with limited access to high-quality, ongoing treatment.
“With our digital-first solution, BeatO is well positioned to lay the new standards for delivering care to millions of Indians in the future. 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,” said Gautam Chopra, Co-Founder and CEO of BeatO.
More than 70 percent of BeatO’s customers reside in Tier 2 and higher cities, and 55 percent have never used a blood glucose monitoring device. The company, which currently serves over 15 lakh subscribers, claimed a 3X growth in the previous year.
The startup is partnering with Insurance and pharmaceutical companies
BeatO has begun to develop strategic alliances with key ecosystem players from the insurance and pharmaceutical industries to guarantee accessibility and affordability to specialized care.
The additional funds will be used to strengthen BeatO’s leadership team, expand its diabetes care programs across India, and make further investments in its technology and product.
“BeatO is on an ambitious mission to re-design how diabetes is cared for in India. They are a world-class team that has demonstrated the ability to deliver consistent, high-quality and empathetic care resulting in outstanding clinical outcomes,” Tejasvi Ravi, who leads healthcare investments at Lightrock, added.
The diabetes management application offered by BeatO, founded by Gautam Chopra, Yash Sehgal, and Abhishek Kumar, assists users in managing their exercise, food, medication consumption, and diagnosis. BeatO links users with doctors and diabetes educators for immediate, real-time support.
Ravi Iyer, Senior Vice President and Head – Corporate Development at 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.”