FitterFly Raises $12 Mn In Series A Funding Led By Amazon Smbhav, Fireside

Fitterfly, a healthtech start-up working in the field of digital health and therapeutics, on Wednesday announced that it has raised $12 million in Series A funding led by Amazon Smbhav Venture Fund and Fireside Ventures. The co-investors in this round include 9 Unicorns, Venture Catalysts and Nihar Parikh, Founder of 4point0 Health Ventures, and Sriram Natarajan, Founder of Molbio.

The funds raised will be used to increase Diabefly's reach, their digital therapeutics and clinically-proven programme to prevent, manage and reverse diabetes. It will also be used to enhance Fitterfly’s technology stack to give unique clinical insights.

Dr Arbinder Singal, CEO and co-founder, Fitterfly, said, “We want to take our clinically-proven diabetes and weight management system to the people who need it the most. This funding will help us strengthen our research, launch new verticals in the heart health space and grow our customer base by reaching out to people living with diabetes as well as the universe of doctors and organizations in the field of chronic disease management. Our corporate wellness models are pushing the envelope from ‘tick-mark-based bundling’ to an ‘outcome-based approach’."

With a slew of personalised digital therapeutic programmes on offer, Fitterfly champions an advanced approach for controlling diabetes by focusing on personalised glycemic response-based coaching. It is also the only Indian startup to have presented 5 papers about diabetes at the American Diabetes Association Conference in 2022. Fitterfly has a total of 50+ papers published at multiple international and national forums by the International Diabetes Federation, American Association of Clinical Endocrinologists, US Endo, European Congress, RSSDI, etc.

“We launched the $250 million Amazon Smbhav Venture Fund in April last year to invest in early-stage entrepreneurs and tech start-ups. Amongst others, one of the key focus areas for the fund is healthcare. Led by Arbinder Singal and Shailesh Gupta, the team at Fitterfly is doing some inspiring work to create clinically-validated digital therapeutic solutions. We are excited by their mission of using technology to solve some of the most prevalent healthcare issues in India like diabetes, obesity and heart disease. Their value proposition, potential for large scale impact and clinical validation is exciting for us," said an Amazon Smbhav Venture Fund Spokesperson.

Adding further, Kanwaljit Singh, founder and managing partner, Fireside Ventures, said, “The amalgamation of technology and patient-centered care leading to better outcomes is the need of the hour in the fight against chronic diseases. I have known Arbinder for more than a decade and his experience as a doctor and a serial entrepreneur is very meaningful for building an impactful global company. When we backed Fitterfly last year, we were sure of their capabilities in this domain. Today, as we reaffirm our support to them, we hope to see the same zeal in expanding their reach.”

Founded in 2016 by Dr Arbinder Singal and Shailesh Gupta, Fitterfly has over 200 employees and is headquartered in Navi Mumbai. The company has raised a total of $16.6 million till date.

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