Health-tech startup Sugar.fit has raised $11 million in a Series A funding round led by MassMutual Ventures.
The round also saw existing investors, including Cure.fit, Tanglin Venture Partners, and Endiya Partners.
The startup aims to manage and reverse Type 2 and pre-diabetes through a holistic, science-backed, and data-driven digital health experience and will use the funds to expand its offering, launch an offline presence, and accelerate research and development in the field of diabetes management, accelerating the brand’s footprint and growth.
In India, an estimated 100 million individuals struggle with type 2 diabetes, and another 130 million are on the brink of pre-diabetes, the startup said.
Madan Somasundaram, co-founder and CEO of Sugar.fit, said, “This investment will enable us to further enhance our technology and expand our reach across India, ultimately helping more people take control of their diabetes and improve their health.”
At present, the startup offers a complete diabetes care program by integrating a variety of devices, such as continuous glucose monitors, fitness trackers, and other health diagnostics, and providing easy access to diabetes specialists and health coaches.
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Further, it claims that a continuous approach to diabetes care has yielded positive health outcomes for consumers; users have seen an average two per cent reduction in HbA1c levels after three months.
According to Anvesh Ramineni, Managing Partner at MassMutual Ventures, theteam’s approach to diabetes management combines hardware, software, and analytics to deliver a personalized program and drive lasting behavioral change for better health outcomes.
Founded in 2021, the startup raised $10 million in a seed funding round, and in the last 18 months, the brand claimed to have achieved eightfold growth in paid subscribers and currently serves more than 25,000 users on its platform.
Published on October 31, 2023
