HealthQuad, Flipkart Ventures and existing investors including Blume Ventures and Leo Capital also participated in the round.
The company said it would use the fresh capital to scale up its business, hire top leadership and invest in hardware and software products, and to sell its products to more customers across the country.
The company says it provides affordable diabetes care with a focus on people who don’t have access to specialists to treat the condition.
It has an app through which customers can track glucose levels and health vitals, and sells devices that can be connected to a smartphone to collect data. It also provides access to doctors through online consultations.
The startup claims that India will soon overtake China to become the diabetes capital of the world, with more than 200 million Indians at risk from the lifestyle ailment.
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It says that a “broken ecosystem” and “lack of specialists” have left people who live in tier-2 cities and beyond with limited or no access to continuous diabetes care.
BeatO says it serves over 1.5 million customers and has grown 3x over the last year, and is poised to become a market leader.
The startup competes with the likes of Accu-check, MDAcne, myDiabby, Symbiome, among others.
“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,” said Gautam Chopra, cofounder and CEO of BeatO.
“BeatO is on an ambitious mission to re-design how diabetes is cared for in India,” Tejasvi Ravi, who leads healthcare investments at Lightrock India, said. “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.”
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