Sugar.fit Bags $11M in Series A Funding, Eyes Offline Presence and R&D
Healthtech startup Sugar.fit has made headlines by securing $11 million in a Series A funding round led by MassMutual Ventures.
As per the startup, the freshly raised funds will be used to expand its product offering, launch an offline presence, and accelerate research and development (R&D) in the field of diabetes management.
The funding round also saw participation from Tanglin Venture Partners, Cure.fit, and Endiya Partners.
Sugar.fit | Manage and Reverse Diabetes
Founded by Madan Somasundaram and Shivtosh Kumar, Sugar.fit is a healthtech startup that enables people to manage and reverse diabetes by offering a diabetes reversal program.
Leveraging a data-driven approach to manage and reverse diabetes, the healthtech startup uses continuous glucose monitoring technology (CGM), enabling users to see the real-time impact of various food and lifestyle activities on their blood sugar levels to optimize metabolic health.
As per the diabetes management and reversal platform, people using their offerings have seen an average 2% reduction in HbA1c levels after 3 months.
Speaking about the development, Madan Somasundaram, co-founder and CEO of Sugar.fit, highlighted that the freshly raised capital will enable it to enhance its technology and expand its reach across India. This will ultimately enable the healthtech startup to help more people take control of their diabetes and improve their health, Somasundaram added.
Statement from the Investor
Commenting on the development, Anvesh Ramineni, managing partner at MassMutual Ventures, highlighted Sugar.fit’s approach to diabetes management that integrates hardware, software, and analytics to deliver personalized for better health results.
Ramineni said,
“We are thrilled to lead the Series A funding round for Sugar.fit. The team’s approach to diabetes management combines hardware, software, and analytics to deliver a personalized program and drive lasting behavioral change for better health outcomes.”
With its core team, including executives who have worked in reputed firms such as Walmart Labs, Curefit, Flipkart, Myntra, Samsung, and Dailyhunt, the startup claims to have witnessed eightfold growth in paid subscribers in the last 18 months.
Currently, Sugar.fit serves more than 25,000 users on its platform. In 2021, Sugar.fit secured $10 Mn in a seed round from Cure.fit (a health and fitness company), Endiya Partners and Tanglin Venture Partners.
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