Healthify, a Bengaluru-based health and wellness platform formerly known as HealthifyMe, has successfully raised $20 million in its latest funding round. This investment is set to fuel its
Healthify, a Bengaluru-based health and wellness platform formerly known as HealthifyMe, has successfully raised $20 million in its latest funding round. This investment is set to fuel its ambitious plans for growth, especially in the United States.
The funding round was led by Khosla Ventures and LeapFrog Investments, with notable participation from Claypond Capital, which is linked to Indian healthcare billionaire Ranjan Pai. With this new round, Healthify’s total funding has now reached $125 million.
With the fresh capital, Healthify aims to enhance its AI-driven nutrition and fitness coaching capabilities and establish a stronger presence in the US market. A significant portion of the investment will be dedicated to building a skilled team in the US while also expanding its development center in Bengaluru, India.
Founded in 2012 by Tushar Vashisht, Sachin Shenoy, and Mathew Cherian, Healthify is recognized for integrating advanced AI tools into its health and fitness platform. Users benefit from features like nutrition tracking, fitness coaching, and a conversational AI coach named Ria.
According to Vashisht, nearly half of Healthify’s Indian users utilize AI-driven features, while the rest combine AI tools with human coaching. The startup is now working to adapt its AI capabilities to meet the cultural preferences and language needs of US users.
Healthify boasts a user base of over 40 million, with operations across 300 cities in India. The platform has achieved operational profitability in its Indian operations, and the company expects to be EBITDA-positive by the end of FY25.
In FY24, Healthify reported revenues of approximately ₹200 crore and is projected to maintain this level for FY25. Although growth in India may be slow, the focus on expanding into the US market is anticipated to drive significant future growth, potentially generating hundreds of millions of dollars in revenue within five years.
In addition to its consumer offerings, Healthify has made strides in the business-to-business (B2B) sector, partnering with major companies in diagnostics, insurance, and pharmaceuticals. Key clients include Amazon, Micro Labs, and Accenture. The startup plans to continue expanding its B2B operations, utilizing its AI capabilities to provide affordable health and wellness solutions in the US.
Vinod Khosla, founder of Khosla Ventures, expressed optimism about Healthify’s future: “With AI, everyone can have a personal nutritionist and health coach to make the right diet and fitness choices daily. Healthify is already doing this in India, one of the world’s largest consumer markets, and they are now well-positioned to bring their offerings to the United States.”
Healthify’s latest funding round and its strategic expansion plans underscore its commitment to transforming the health and wellness landscape, both in India and the US. As the company leverages AI technology to enhance its services, it looks poised for substantial growth in the coming years.
