B Capital Leads Sugar.fit’s $5 Mn Extended Series A Funding

The startup aims to bolster its brand presence and accelerate research and development initiatives in diabetes management.

Bengaluru-based healthtech startup Sugar.fit has secured an additional $5 million (approximately INR 41 Cr) as part of its extended Series A funding round, with B Capital leading the investment.

Founded in 2021 by Madan Somasundaram and Shivtosh Kumar, Sugar.fit offers a comprehensive diabetes care program integrating various devices such as continuous glucose monitors, fitness trackers, and health diagnostics.

It also provides convenient access to diabetes specialists and health coaches. Currently, it operates seven Diabetes Clinics across the city.

This latest funding brings Sugar.fit's total Series A funding to $16 million (around INR 132.5 Cr).

The previous funding round in October last year saw Sugar.fit raising $11 million, led by MassMutual Ventures, and participation from existing investors Tanglin Venture Partners, Endiya Partners, and Cure.Fit.

Focus on Technological Advancements

Per the startup, the fresh capital infusion will enhance its technology stack and expand its product portfolio.

Additionally, the startup aims to bolster its brand presence and accelerate R&D initiatives in diabetes management.

Sharing insights, Madan Somasundaram, cofounder, Sugar.fit, said, "Health habits of consumers have changed over the past few years, and the need for a new tech-driven approach is paramount for sustainable health outcomes. Sugar.fit has created a unique platform to help meet this demand."

Karan Mohla, general partner at B Capital, highlighted the challenges faced by India in managing chronic care conditions, particularly diabetes.

Mohla said, "India faces the challenge of managing a dual disease burden, marked by the increasing prevalence of chronic care conditions, notably diabetes. Despite significant investments in healthcare, we continue to grapple with the enduring challenges of access, affordability, and quality."

Competitive Landscape & Investor Interest in Healthtech

Sugar.fit competes in a crowded health and fitness startup landscape alongside companies such as Stratfit, Growfitter, Fitnapp, HealthifyMe, HealWell24, and SARVA Yoga.

The healthtech sector has witnessed increased investor traction, with startups securing significant funding.

For instance, Zeno Health recently raised $25 million in its Series C funding round, while CureBay raised INR 62 Cr in its Series A1 funding round. Similarly, Cardiotrack, a healthcare screening technology provider, secured $2 million in Pre-Series A funding to expand its healthcare screening solutions.

Furthermore, Neodocs, a healthtech startup founded in 2020, recently received funding to accelerate its expansion plans and scale up its innovative healthcare solutions.

The recent infusion of funds sought to support Neodocs in scaling its existing offerings and expanding into international markets, including Europe, Australia, the Middle East, the Philippines, and the Americas.

Likewise, Aarogya Tech, a US-based healthtech startup operating out of Bengaluru, secured seed funding to further its mission of revolutionizing the healthcare landscape.

The startup aims to shift the center of care from hospitals to homes through its accessible and intelligent health companion, driving innovation in the healthcare industry.