IANS | 14 Mar, 2024
Healthtech startup Sugar.fit on Wednesday said that it secured an
additional $5 million in Series A funding, bringing the total funding to
$16 million.
Global investment firm B Capital led the latest
funding, with previous participation from MassMutual Ventures and
existing investors, including Tanglin Venture Partners, Endiya Partners
and Cure.Fit.
"Sugar.fit has created a unique platform to help
meet this demand and to become the go-to destination in all diabetes
needs for India. Leveraging deep tech and a strong on-ground network, we
aspire to service millions of people in the next few years," Madan
Somasundaram, co-founder & CEO of Sugar.fit, said in a statement.
The
company said that it will be using the new capital to expand
Sugar.fit's technology stack and product range, increase brand presence
and speed up research and development in diabetes management.,
"Sugar.fit
is dedicated to fostering sustainable healthcare outcomes, supported by
a comprehensive approach to distribution across multiple channels and
outstanding growth metrics," said Karan Mohla, General Partner at B
Capital.
Sugar.fit offers a comprehensive diabetes care programme
that combines innovative technology with personalised human
interventions. The company has also established an omnichannel presence,
starting in Bangalore, and now operates 7 state-of-the-art Diabetes
Clinics with top doctors in diabetes care across the city.
Sugar.fit
has seen substantial growth in paid subscribers over the last 18 months
and now serves over 30,000 users on its platform, the company
mentioned.