Hotline: 1800 102 2007
X
Search Business Opportunities
Jun, 22 2017

Health tech startup Growth Fit secures $4.5 million from Manipal Group

With this investment, Dr. Ranjan Pai, the MD & CEO of MEMG, will be joining the Board of Directors joining the Board of Directors

Mobile health company, Grow Fit has raised $4.5 million in Series A funding led by MEMG (Manipal Education and Medical Group), the PE arm of the Manipal Group. Existing investors, SAR Group and The Grover Trust also participated in this round.

With this investment, Dr. Ranjan Pai, the MD & CEO of MEMG, will be joining the Board of Directors joining the Board of Directors.

Jyotsna Pattabiraman, Founder & CEO, Grow Fit said, "Grow Fit combines data science, medical science and behavioural insights to help people achieve their health goals and live their best lives. We are an outcome-oriented company and have always stressed a science-and-data approach. I am delighted that leading professionals from the Manipal Hospital have validated our approach. Grow Fit now has the backing of one of the top medical groups in the country and we are excited about the next phase of growth with this investment."

The funding led by MEMG is also unique as the development marks a rare instance where an Indian health tech company has been validated by doctors as well as investors.

Earlier, Grow Fit was backed by Krishnan Ganesh and Meena Ganesh’s GrowthStory platform.

K Ganesh, Partner, Growth Story, said, "Companies which have the right genes can always raise funding, even in a somewhat tight market. Grow Fit’s laser-like focus on customer outcomes sets it apart from others. It takes a unique dedication to go against the conventional wisdom of transactions and the team at Grow Fit has demonstrated this commitment time and again."

This investment comes at a time when countries the world over are grappling with healthcare costs.

Dr. Ranjan Pai, CEO and MD, MEMG, said, "Grow Fit has the right approach to reach the millions of Indians who can benefit from better nutrition and coaching. I was impressed by their novel approach, their investment in R&D and their technology platform. Indians need to make drastic changes to their health habits and Grow Fit makes it effortless for them. This is a huge opportunity and we are looking forward to unlocking it."

Grow Fit further plans to include expanding solutions to fertility, joint health, stress management and more, all through the mobile. The venture also plans to integrate different sources of data from wearable technology and medical reports in order to make the app a one-stop, comprehensive companion for wellness.

Comment
Related opportunities
  • Gyms and Fitness Centres
    About Us: Trugym is an innovative gym operator from the UK...
    Locations looking for expansion Delhi
    Establishment year 2009
    Franchising Launch Date 2018
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 3000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Multi Cuisine Restaurant
    About:DėėZ is the leading, largest & oldest organized Biryani chain..
    Locations looking for expansion New Delhi
    Establishment year 1987
    Franchising Launch Date 2017
    Investment size Rs. 50lac - 1 Cr.
    Space required 200 - 1100 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater South Delhi New Delhi
  • Casual dine Restaurants
    Café Udupi Ruchi, is a restaurant which will provide the..
    Locations looking for expansion Karnataka
    Establishment year 2014
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Rural District Karnataka
  • Quick Service Restaurants
    About Us: Tarbouche, ,meaning the brimless red cap worn by Turkish..
    Locations looking for expansion Karnataka
    Establishment year 2016
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities