New Delhi: BeatO, a startup for diabetic patients, has raised an institutional funding of USD 1.3 million (Rs 8.45 crore), led by Leo Capital and co-led by Blume Ventures.
BeatO offers a smartphone-based glucometer. Started just over 2 years ago, BeatO currently serves 25,000 active customers in more than 1,500 cities.
The company said it is currently fulfilling over 5,000 transactions a month.
“India is expected to have 100 million diabetics by 2030. This puts tremendous pressure on all stakeholders in the healthcare eco-system both from a cost and well-being perspective to specially cater to this large demographic,” BeatO co-founder and CEO Gautam Chopra said in a statement.
With this funding, BeatO plans to strengthen its technology and distribution.
“We will also supplement our existing range of product categories including diabetic snacks and specialty foods,” the company said.
BeatO had previously raised an angel round from a few individual investors including Rajeev Chitrabhanu (an early investor in Nazara Technologies) and Vishal Sampat (angel investor).
The statement said BeatO has grown 10 times in revenue within the last one year.