ImpactAlpha, July 22 – Singapore-based HealthifyMe’s AI-based wellness app provides nutrition and fitness advice, coaching and tracking. The app has 25 million downloads and two million regular monthly users across India and Southeast Asia.
LeapFrog invested $30 million in the company’s $75 million Series C round to help it expand in India and launch in the U.S.
LeapFrog backed HealthifyMe for its potential to save “a meaningful portion of the 164 million healthy life-years estimated to be lost annually due to early death and disability caused by chronic diseases in India.” Roughly half of HealthifyMe’s users are low-income.
“By giving people control of their own health, regardless of geographical, social or economic status, we are supporting communities who are living under the burden of limited resources, both financial and medical,” LeapFrog’s Biju Mohandas told ImpactAlpha.
HealthifyMe’s users, on average, lose 4.5 kilograms (10 pounds) after using the app for 180 days; 80% see improvements in conditions related to chronic disease like diabetes, hypertension, and thyroid function.
The deal is LeapFrog’s fifth healthcare investment. LeapFrog said the COVID pandemic, which devastated India this spring, accelerated demand for online and mobile-based health services.
“Innovations that sit at the intersection between health and digital hold the power to transform societies from caring for sick people to enabling wellness,” said Mohandas.
Its investment will support the expansion of HealtifyMe’s services for managing chronic diseases.