Gurgaon-based Breathe Well-being, which helps people prevent, manage and reverse Type 2 Diabetes, today announced it has raised $5.5 million in a Series A funding round led by Accel.
The round also saw participation from marquee investors like General Catalyst (early investors in Livongo, $20B+ US-based digital therapeutic company, Airbnb & Stripe), and Scott Shleifer, Global MD, Tiger Global.
With this, Angel investors have received a 30X exit and early employees have been rewarded with life-changing ESOPs encashment.
Breathe Well-being will utilize the funding to scale up its tech platform and expanding the team, the statement said.
The startup had previously raised $1 million in a pre-Series A funding round led by Bangalore-based early-stage venture capital firm 3one4 Capital.
Founded in 2020 by industry experienced Rohan Verma (Ex McKinsey) and Aditya Kaicker (ex-Accenture), The startup is helping 70 million Indians to prevent, manage and reverse Type 2 Diabetes. Its clinically proven digital program uses a personalized coach-driven, community-first approach through interactive gamification to help people with Type 2 Diabetes reduce HbA1c, lose weight and reduce medication dependability.
Speaking on the development, Rohan Verma, Co-founder & CEO, Breathe Well-being, said:
“Our mission is to help 1 Million Indians reverse Type 2 Diabetes by 2025. We are focusing on enhancing patient experience by scaling our technology platform, strengthening medical & coaching academies, community protocols, and game design. This fundraise will also help us ramp up our hiring and marketing efforts."
"We will be aggressively hiring not only for core operations but across the board. In Accel, we have found the right kind of partnership and synergy to help us achieve our ambition of becoming the largest digital therapeutics company in the world," he adds.
Rohan is a certified CrossFit L2 trainer and a mindfulness coach and Aditya is an ACE-certified behavioral health coach, the company said in a statement.
Radhika Ananth, Vice President of Accel, said: “This investment feels as much personal as professional since Rohan’s pitch struck an immediate chord as diabetes reversal is a topic close to my heart."
"When we met the Breathe team, it instantly dawned upon us that this was a unique opportunity, built on the premise of high efficacy, patient love, and deeply engaged community. My mom is now one of their many enthusiastic customers in her journey to bring down the A1c levels to 5.6," she adds.
"With a meager 200,000 specialist doctors base in the country, the need for an efficient tech platform that can help patients manage and treat their conditions with minimal medical intervention could not be more imminent, it said.
For chronic care reversal, continuous engagement and monitoring is required. However, care delivery for chronic care patients currently is highly episodic. Hence the need for digital solutions that can be delivered at home and at the time of need.
Breathe Well-being claims that its flagship Online Diabetes Reversal Program has garnered tremendous patient love from thousands of patients and boasts of impressive outcomes with 95%+ patients showing HbA1c level reduction of more than 10% and 90%+ patients with completely stopped or reduced medications.
The startup further said that in the long term it wants to extend its digital therapeutic offerings to other chronic conditions, such as hypertension, PCOS, gut disorders, etc., and establish itself as a leading global player in the market.
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