Sugar.fit set to recieve $10 million in seed funding
cure.fit, Endiya Partners and Tanglin Venture Partners will participate in this round
cure.fit along with Endiya Partners and Tanglin Venture Partners have agreed to invest $10 million in Sugar.fit – a healthtech startup that seeks to manage and reverse diabetes through a highly consumer-centric data-driven digital health experience.
The investment is expected to close by September. About 70 million people in India suffer from diabetes and another 80 million are pre-diabetic. Diabetes is the leading cause of several fatal health complications which requires people to continuously monitor and regulate their sugar levels.
The startup uses continuous glucose monitoring technology (CGM), which helps users see real-time impact of various food and lifestyle activities on their blood sugar level. Sugar.fit’s comprehensive program further combines medical experts with deep technology, including coaching, personalised analytics, and integrated devices and testing. Cure.fit will actively support the Sugar.fit team with their fitness and wellness content, and access to their millions of health-conscious consumer base in the country.
Cure.fit's digital capabilities in pre- emptive health, scale of Cult.fit, and network of doctors and coaches are strong assets for sugar.fit. Sugar.fit launched two months ago and is currently operational in Bengaluru and Delhi-NCR. The company has seen strong traction and is on track to hit $1mm ARR this quarter. Sugar.fit plans to expand to 10 cities over the next few months.
Commenting on the investment, Dr. Ramesh Byrapaneni, Partner, Endiya Partners said: “There is increasing evidence that with proper medical and lifestyle interventions, diabetes can be prevented, managed better and even reversed. However, current systems of care management are often generic and lack personalisation. Sugar.fit’s goal to sustainably manage and reverse diabetes for millions of Indians in the next few years is a worthy goal which we at Endiya are thrilled to partner in.”
Madan Somasundaram, Co-founder of Sugar.fit said: “We have an innovative tech-led solution that gives real-time tracking and hands-on personalised assistance to our customers. 90% of our users are seeing significant drop in their blood sugar levels along with 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. I am confident that Sugar.fit can sustainably manage and reverse diabetes for millions of Indians in the next few years.”
Sugar.fit’s founding team includes Madan Somasundaram and Shivtosh Kumar and the core founding team comes with vast experience in building and scaling products at cure.fit, Dailyhunt, Flipkart, Myntra, Samsung etc. Majority of the tech team is from Curefit and have avg experience of 5+ years. The team has previously built health products with NPS of 80+.
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