New
Delhi, India, April 05, 2018- BeatO, a comprehensive platform dedicated to
improving the lives of those living with diabetes has raised an institutional
round of$1.3 million led by Leo Capital and co-led by Blume Ventures.
Delhi, India, April 05, 2018- BeatO, a comprehensive platform dedicated to
improving the lives of those living with diabetes has raised an institutional
round of$1.3 million led by Leo Capital and co-led by Blume Ventures.
“We
are extremely excited to associate with partners like Leo and Blume. India is
expected to have 100M diabetics by 2030. This puts tremendous pressure on all
stakeholders in the healthcare eco-system both from a cost and well-being
perspective to speciallycater to this large demographic. This funding is a
re-enforcement to the fact that we are solving a problem of massive scale”,
said Gautam Chopra, Co-Founder and CEO, BeatO.
are extremely excited to associate with partners like Leo and Blume. India is
expected to have 100M diabetics by 2030. This puts tremendous pressure on all
stakeholders in the healthcare eco-system both from a cost and well-being
perspective to speciallycater to this large demographic. This funding is a
re-enforcement to the fact that we are solving a problem of massive scale”,
said Gautam Chopra, Co-Founder and CEO, BeatO.
“With
this funding, we plan to continue adding greater value to our customers through
even better technology and distribution. We will also supplement our existing range
of product categories including diabetic snacks and specialty foods. Our goal
is to be an indispensable ally to a person living with diabetes”, added Yash Sehgal
& Abhishek Kumar, Co-founders, BeatO.
this funding, we plan to continue adding greater value to our customers through
even better technology and distribution. We will also supplement our existing range
of product categories including diabetic snacks and specialty foods. Our goal
is to be an indispensable ally to a person living with diabetes”, added Yash Sehgal
& Abhishek Kumar, Co-founders, BeatO.
BeatO
makes blood glucose monitoring easy with its smartphone-based glucometer
combined with support from experts. This is augmented by their wide range of
diabetes specific food and retail products, thereby catering to all the needs
of a person with diabetes. Started just over 2 years ago, BeatO currently
serves 25,000 active customers in more than 1,500 cities, some even as far as
Baramullah in Kashmir. This depicts the powerful impact that a virtual and
holistic solution can have in providing healthcare to everyone. BeatOis
currently fulfilling over 5,000 transactions a month.
makes blood glucose monitoring easy with its smartphone-based glucometer
combined with support from experts. This is augmented by their wide range of
diabetes specific food and retail products, thereby catering to all the needs
of a person with diabetes. Started just over 2 years ago, BeatO currently
serves 25,000 active customers in more than 1,500 cities, some even as far as
Baramullah in Kashmir. This depicts the powerful impact that a virtual and
holistic solution can have in providing healthcare to everyone. BeatOis
currently fulfilling over 5,000 transactions a month.
Speaking
about the funding, RajulGarg, Founder of Leo Capital, said, “India is the
diabetes capital of the world. We have looked deeply at chronic disease
solutions and BeatO has been able to demonstrate an approach that diabetics
find useful month over month. BeatO’s focus on a solution very unique to India
is what attracted us”.
about the funding, RajulGarg, Founder of Leo Capital, said, “India is the
diabetes capital of the world. We have looked deeply at chronic disease
solutions and BeatO has been able to demonstrate an approach that diabetics
find useful month over month. BeatO’s focus on a solution very unique to India
is what attracted us”.
Arpit
Agarwal, Principal, Blume Ventures, said, “BeatO is different from other players
in the segment given their approach allows patients to manage diabetes
effortlessly by having a wide array of healthy lifestyle choices available to
them on a single platform.The founding team is perhaps one of the best in the
industry and we feel confident that they will capture the opportunity in this
space successfully.”
Agarwal, Principal, Blume Ventures, said, “BeatO is different from other players
in the segment given their approach allows patients to manage diabetes
effortlessly by having a wide array of healthy lifestyle choices available to
them on a single platform.The founding team is perhaps one of the best in the
industry and we feel confident that they will capture the opportunity in this
space successfully.”
BeatO
had previously raised an angel round from a few individual investors including
Rajeev Chitrabhanu, an early investor in Nazara Technologies, Rentomojo etc and Vishal
Sampat, who besides being an angel investor was also the Founder of Convonix,
India’s largest digital agency acquired by Publicis.
had previously raised an angel round from a few individual investors including
Rajeev Chitrabhanu, an early investor in Nazara Technologies, Rentomojo etc and Vishal
Sampat, who besides being an angel investor was also the Founder of Convonix,
India’s largest digital agency acquired by Publicis.
BeatO
has grown 10X in revenue within the last one year. It boasts of having
facilitated more than 250,000 glucose readings and has over 80% repeat order
rate of acquired customers. The company plans to continue adding products
across categories which are useful for diabetics and leveraging technology to
make them accessible in the near future.
has grown 10X in revenue within the last one year. It boasts of having
facilitated more than 250,000 glucose readings and has over 80% repeat order
rate of acquired customers. The company plans to continue adding products
across categories which are useful for diabetics and leveraging technology to
make them accessible in the near future.
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| Founders of BeatO – Gautam Chopra, Yash Sehgal, Abhishek Kumar (From Left to Right) |
