Grow Fit is a Bengaluru – based health tech startup that is run by Healthzone Organic Foods Pvt. Ltd. The startup announced yesterday (21/06/2017) that it has secured a fund of US $4.5 million (Rs. 29 crores) in Series A round of funding from Manipal Education and Medical Group, the investment arm of Manipal Group. Its existing investors like SAR Group and The Grover Trust also participated in the round of funding. Ranjan Pai, the MD and CEO of Manipal Education will join the BoD of Grow Fit as part of the investment deal. Read more on Investments
Grow Fit was launched during September 2015. It provides wellness solutions through a range of services like data science, medical expertise, personalized inputs, healthy food tips and behavioral insights. During December 2016, Grow Fit had acquired Drink King, a nutritional beverage company. Drink King was founded during December 2015.
Jyotsna Pattabiraman, the founder and CEO of Grow Fit said that Grow Fit would use the funds from the investment to expand it presence to ten major cities in India by the end of 2018. Grow Fit presently operates only in Bangalore. Pattabiraman, who has done an MBA from Stanford University, said that the funding will also be used to develop intellectual property and operational efficiencies, including logistics. The startup also plans to expand its services to include providing solutions to fertility, joint health, stress management and more on its mobile platform. The startup is also planning to generate health reports on its mobile app by integrating health and exercise data from wearable devices and medical reports of patients. Grow Fit’s mobile app is presently available for free download in the iOS and Android mobile OS platforms.
The health tech sector in India is presently booming. A number of health tech startups in India have been funded right from January 2016 to present day. Some examples include the Delhi – based breast cancer screening startup, Niramai Health Analytix which got an undisclosed amount of funds from the VC firms, Pi Ventures and Axilor Ventures during April 2017. Another health tech startup, Airmed Pathology Labs secured Rs. 10 crores in Series A round of funding from Coleman and Company Ltd’s (BCCL) during January this year (2017). Another health tech startup called CrediHealth had secured an investment amounting to US $1.5 million from the VC firm, Tolaram during April, this year (2017) just to name a few. Read more on Startup News