Healthtech startup Sugar.fit recently announced it has raised $11 million in a Series A funding round led by MassMutual Ventures and saw participation from returning investors such as Cure.fit, Tanglin Venture Partners, and Endiya Partners.
What is the purpose of fundraising?
Sugar.fit intends to use the newly acquired capital to diversify its product offerings, initiate an offline presence, and hasten research and development efforts in diabetes management.
According to the startup, The investment will bolster its expansion and growth in a field that's becoming increasingly crucial.
With an alarming number of individuals grappling with Type 2 diabetes in India and many more teetering on the edge of pre-diabetes, the demand for innovative diabetes management solutions is pressing.
What does Sugar.fit offer?
Founded in 2021 by Madan Somasundaram and Shivtosh Kumar, Sugar.fit provides a comprehensive diabetes care solution designed to manage and potentially reverse Type 2 and pre-diabetes.
The startup integrates an array of devices such as continuous glucose monitors, fitness trackers, and other health diagnostic tools.
Moreover, It gives users access to diabetes specialists and health coaches. It also allows users to monitor the real-time effects of their lifestyle choices on glucose levels.
Additionally, Users receive customized advice on fitness, nutrition, and sleep, leading to an average 2% reduction in HbA1c levels within a mere three months, according to a release.
Witnessing eightfold growth
Over the past 18 months, The startup claims to have witnessed an eightfold surge in paid subscribers. At present, the platform proudly caters to over 25,000 users.
Madan Somasundaram, the co-founder and CEO of Sugar.fit, said, “We are more committed than ever to helping people with Type 2 and pre-diabetes manage and reverse their condition."