India-based digital chronic disease management platform BeatO has raised $5.7 million in a funding round led by W Health Ventures, an American venture capital firm. The investing round was also participated by Threpsi Solutions' e-pharmacy unicorn PharmEasy, Merisis VP and previous investors.

The digital health startup has raked in over $10 million in investor funds since last year.

WHAT IT DOES

BeatO is a mobile health application for chronic disease management. It brings real-time monitoring through IoT-connected devices to an app ecosystem to deliver AI-driven personalised insights to patients with chronic conditions, such as diabetes. The platform is also used by doctors and health coaches for care intervention.

The app also offers a diabetes care and management programme that was said to reduce mean blood glucose levels by a tenth and minimise hypoglycaemia incidence by over half within 30 days.

Additionally, BeatO develops and markets smartphone-based glucometers and sells healthy food, drinks and wellness products via its mobile app.

Since the COVID-19 pandemic, the digital health platform has around 500,000 app downloads and about 300,000 paid subscribers. The BeatO app is available on both iOS and Android devices.

WHY IT MATTERS

The company said in a statement that it will use its new funds to grow its subscriber base across multiple channels and locations and enhance product offerings for cardiometabolic conditions.

BeatO has been expanding its operations outside India to countries in Southeast Asia, as well as in the Middle East and the US. Recently, it set up a new operation in Singapore.

MARKET SNAPSHOT

Similar digital chronic disease management platforms have also brought in more investor funds this year. Just two weeks ago, Swedish startup NuvoAir scored $12 million in a Series A round to broaden the coverage of its chronic disease management and clinical trial platforms in the US and Europe. US-based Glooko bagged $30 million from a Series D funding round in March; funds were used to attract more users and commercialise products in clinical research.

In other news, DarioHealth has expanded beyond diabetes and hypertension with its acquisition of musculoskeletal health firm Upright Technologies in January.

ON THE RECORD

"Diabetes and hypertension have been the major killers in this pandemic. With our holistic tech-based solution that supports end to end management for these conditions, we have a proven product and technology with a highly engaged and rapidly growing member base," BeatO Co-Founder and CEO Gautam Chopra said.

"We're impressed with BeatO's unparalleled patient experience and outstanding clinical results. The Company's exponential growth is driven by its ability to transcend geographical and socio-economic barriers," W Health Ventures EVP Dr Pankaj Jethwani also said.