BeatO, founded by Gautam Chopra, Yash Sehgal and Kunal Kinalekar, has raised $33 Million in Series B funding led by Lightrock India with participation from HealthQuad, Flipkart Ventures and existing investors.
With a broken ecosystem and lack of specialists who can treat the condition, especially in Tier 2 cities and beyond where a large part of our population lives, a vast majority are left with limited or no access to continuous diabetes care.
BeatO is expanding the diabetes care market; with over 70% of their users coming from Tier 2 cities and beyond, and 55% of their users never having used a blood glucose monitoring device previously. Currently serving more than 15 lakh members, the company has grown 3X in the last year and is poised to become the market leader to disrupt the diabetes care ecosystem in India.
Commenting on the new funding, Gautam Chopra, Co-Founder & CEO – BeatO said, “With our digital-first solution, BeatO is well positioned to lay the new standards of how care will be delivered in the future to millions of Indians. 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.”
Tejasvi Ravi, who leads healthcare investments at Lightrock India added, “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 clinical outcomes that are outstanding.”
Speaking on the investment, Ajay Mahipal, Director, HealthQuad said “BeatO’s full-stack integrated platform approach focused on diabetes care solves accessibility, affordability and quality issues. Device-first engagement with clinical outcome-backed Care Program solution aims to sustainably manage diabetes for the patients. BeatO is providing care across the continuum of monitoring, control and reversal. We remain committed to partnering with innovation-first firms providing access to quality care.”
Ravi Iyer, Senior Vice President and Head – Corporate Development, Flipkart Ventures, 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.”
