Sugar.fit To Raise $10 Mn In Seed Funding Round
Sugar.fit, a Bengaluru-based healthtech startup helping users manage and reverse diabetes, is slated to raise $10 Mn in a seed round led by Cult.fit. The funding round, which is expected to close by September, will also see participation from Endiya Partners and Tanglin Venture Partners.
As per the startup, the raised funds will help the startup expand to 10 cities over the next few months.
Cult.fit, backed by Hrithik Roshan, will support the Sugar.fit team with its fitness and wellness content, access to its consumer base in the country, and network of doctors and coaches.
Sugar.fit | Diabetes Reversal And Management
Founded by Shivtosh Kumar and Madan Somasundaram, Sugar.fit was in stealth mode for nine months until June 2021. The healthtech startup helps users reverse diabetes and enables them to monitor their glucose levels, provides stress relief & exercise plans, health consultations, and personalized care meals.
Speaking about Sugar.fit, Madan Somasundaram states,
“90% of our users are seeing a significant drop in their blood sugar levels along with a drastic reduction in medication and weight and are on track for diabetes reversal. Our customers have rated the product 3.9 on a scale of 4, and we are seeing referrals from word-of-mouth every day.”
Currently, Sugar.fit is operational in Bengaluru and Delhi-NCR. With expansion plans in sight, the startup is eyeing an ARR of $1 Mn in the current quarter.
Sugar.fit directly competes with BeatO in the diabetes diagnosis and prevention segment. Backed by Pharmeasy, BeatO claims that its revenues grew 600% last year. Additionally, BeatO stated that it has 500,000 app installs with 300,000 paid members (adding 25,000 paid members every month).
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