Diabetes care app BeatO raises $33 million in Series B funding led by Lightrock India

BeatO, on November 16, announced to have raised $33 million in a series B round of funding that was led by Lightrock India with participation from HealthQuad, Flipkart and the company’s existing investors. Founded by Gautam Chopra, Yash Sehgal and Kunal Kinalekar, BeatO is a comprehensive digital care platform that provides easy solutions for controlling and managing Diabetes.

Bolstering its dream to become a changemaker and create awareness amongst millions in the country, Republic Media Network has partnered with BeatO in its endeavour to revolutionise the healthtech space. With a 3x revenue growth in the last year, BeatO appears well on the path to becoming the next Indian unicorn. 

"With our digital first solution, BeatO is well positioned to lay the new standards of how care will be delivered in the future to millions of Indians. We are pleased to have a fantastic set of partners joining us on the journey who deeply resonate with our vision and bring solid capabilities to help us achieve our goal", Gautam Chopra, Co-Founder and CEO of BeatO said in the company's official press release. Tejasvi Ravi, on the other hand, who leads healthcare investments at Lightrock India emphasised BeatO's ambitious mission of curbing diabetes in India saying, "They are a world-class team that have demonstrated the ability to deliver consistent, high-quality and empathetic care resulting in clinical outcomes that are outstanding". 

According to the company's release, the fresh capital raised during the latest funding round will be utilised to expand BeatO’s diabetes care programs pan-India and to strengthen its leadership team. "BeatO aims to serve over 10 million patients by 2025, becoming India’s largest Diabetes Care Company", the release stated. 

About BeatO

Available as an app, BeatO is a one-stop solution for diabetes problems and is currently serving over 15 lakh members and has grown three times bigger in the last one year. A majority of its user base is in Tier 2 cities where there is a broken ecosystem and a lack of specialists and this results in about 80% of the population living with uncontrolled blood glucose levels. According to BeatO, 70% of its users come from Tier 2 cities or lower and 55% of them have never used a blood glucose monitoring device previously.

"In its mission to ensure affordability and access to specialist care, BeatO has also started to forge strategic partnerships with major ecosystem players from the Insurance and Pharmaceutical sectors to drive large-scale impact across the country", the company says.

With easy access to methods on how to control the deadly disease, BeatO is even more relevant now considering that nearly 200 million Indians are at risk of diabetes. India is also expected to soon overtake China as the world's diabetes capital.