Chronic Condition Management Platform BeatO raises INR 42 crore led by W Health Ventures & Others
BeatO, a digital care ecosystem for chronic condition management based in Delhi-NCR, has raised Rs 42 crore in funding led by US-based venture capital firm W Health Ventures. PharmEasy, Merisis VP, and existing investors Orios VP, Leo Capital, and others also contributed to the funding.
With this investment, Pharmeasy hopes to collaborate with BeatO on the development of technology and new products to improve the health outcomes of patients with chronic conditions across both platforms.
Founded in 2015, BeatO, an abbreviation for beat diabetes, is a mobile platform that encourages diabetics to increase compliance and reduce out-of-pocket expenses.
The funds will be used to expand the subscriber base across multiple channels and geographies, as well as to improve the product to provide care for more cardiometabolic conditions. BeatO's total funding now exceeds Rs 75 crore as a result of this new round of funding.
Commenting on the new funding, Gautam Chopra, Co-founder and CEO, BeatO said, “Diabetes and Hypertension have been the major killers in this pandemic. The situation looks even more grave when you consider that out of the 200 million Indians who have these conditions, 80 percent have uncontrolled levels."
"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. We welcome our new partners in our exciting journey as we continue to address this large problem and positively impact millions of lives,” he added.
“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 to also reach Tier-II and III cities in India, where access to diabetes care is generally limited. We’re thrilled to join the BeatO team in this exciting journey of making affordable, accessible, and world-class diabetes care a reality for millions of Indians,” said Dr Pankaj Jethwani, Executive Vice President at W Health Ventures.
BeatO's real-world evidence-based studies, according to the company, have been published in the prestigious American Diabetes Association (ADA) and Advanced Technologies and Treatment for Diabetes (ATTD) forums.
With this investment, Pharmeasy hopes to collaborate with BeatO on the development of technology and new products to improve the health outcomes of patients with chronic conditions across both platforms.
Founded in 2015, BeatO, an abbreviation for beat diabetes, is a mobile platform that encourages diabetics to increase compliance and reduce out-of-pocket expenses.
The funds will be used to expand the subscriber base across multiple channels and geographies, as well as to improve the product to provide care for more cardiometabolic conditions. BeatO's total funding now exceeds Rs 75 crore as a result of this new round of funding.
Commenting on the new funding, Gautam Chopra, Co-founder and CEO, BeatO said, “Diabetes and Hypertension have been the major killers in this pandemic. The situation looks even more grave when you consider that out of the 200 million Indians who have these conditions, 80 percent have uncontrolled levels."
"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. We welcome our new partners in our exciting journey as we continue to address this large problem and positively impact millions of lives,” he added.
“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 to also reach Tier-II and III cities in India, where access to diabetes care is generally limited. We’re thrilled to join the BeatO team in this exciting journey of making affordable, accessible, and world-class diabetes care a reality for millions of Indians,” said Dr Pankaj Jethwani, Executive Vice President at W Health Ventures.
BeatO's real-world evidence-based studies, according to the company, have been published in the prestigious American Diabetes Association (ADA) and Advanced Technologies and Treatment for Diabetes (ATTD) forums.
