Sugar.fit secures $11 million in series A funding
The newly acquired capital will be deployed to expand Sugar.fit's product offerings, establish a physical presence and accelerate research.
Health-tech startup Sugar.fit has successfully raised $11 million in its Series A funding round. Leading the funding round was MassMutual Ventures, with the participation of existing investors such as Cure.fit, Tanglin Venture Partners, and Endiya Partners.
The newly acquired capital will be deployed to expand Sugar.fit's product offerings, establish a physical presence, and accelerate research and development in the field of diabetes management. This strategic investment aims to boost the brand's presence and overall growth.
Madan Somasundaram, Co-founder and CEO of Sugar.fit, expressed optimism about the investment, stating that it would facilitate technology enhancement and expand the platform's reach across India. Ultimately, this will empower more individuals to manage their diabetes and improve their health.
Established in 2021, Sugar.fit initially secured USD 10 million in seed funding. Over the last 18 months, the brand has experienced remarkable growth, with its paid subscriber base increasing eightfold. It currently caters to over 25,000 users on its platform. This latest funding round positions Sugar.fit for further expansion and development in the health-tech sector.
(With PTI inputs)
Published On: 31 October 2023 at 15:38 IST