Other participating investors include Cure.fit, Tanglin Venture Partners, and Endiya Partners. The fresh capital will be used to expand Sugar.fit’s product offering, launch an offline presence, and accelerate research and development in the field of diabetes management, as per a statement from the company.
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An estimated 100 million individuals struggle with Type 2 diabetes, and another 130 million are on the brink of pre-diabetes, the statement added. Sugar.fit offers a diabetes care programme, integrating devices such as continuous glucose monitors, fitness trackers and other health diagnostics. It also provides access to diabetes specialists and health coaches.
Users use Sugar.fit’s platform to track the real-time impact of their lifestyle on glucose levels, and receive personalised guidance across the aspects of fitness, nutrition and sleep. These users have seen an average 2% reduction in HbA1c levels after 3 months, the statement added. HbA1c refers to a test that shows the average blood sugar level of a person over two to three months.
“This investment will enable us to enhance our technology and expand our reach across India, ultimately helping more people take control of their diabetes and improve their health,” said Madan Somasundaram, co-founder and CEO of Sugar.fit.
Commenting on the investment, Anvesh Ramineni, managing partner at MassMutual Ventures, said, “We are thrilled to lead the Series A funding round for Sugar.fit. The team’s approach to diabetes management combines hardware, software and analytics to deliver a personalized program and drive lasting behavioral change for better health outcomes. We believe Sugar.fit will transform the health of millions, while battling the increasing incidence of diabetes in India.”
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Founded in 2021, Sugar.fit raised $10 million in a seed funding round that same year. In the last 18 months, the startup has witnessed eightfold growth in paid subscribers, and currently serves more than 25,000 users on its platform, it said.Sugar.fit’s founding team includes Madan Somasundaram and Shivtosh Kumar. The larger founding team includes executives that have worked in companies such as Walmart Labs, Curefit, Dailyhunt, Flipkart, Myntra and Samsung.