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HealthifyMe Raises $30M to Expand AI-Powered Health Solutions

Supriya Biswas
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HealthifyMe Raises $30M to Expand AI-Powered Health Solutions

HealthifyMe, a prominent digital health and wellness platform, has successfully raised $30 million in a pre-Series D funding round. This investment was led by LeapFrog Investments and Khosla Ventures, with additional participation from Finnish development agency FinnFund and Dutch investor Van Lanschot Kempen. The funding is a combination of equity and venture debt, and existing backers Unilever Ventures, Blume Ventures, Chiratae Ventures, and Healthquad also joined the round.

The Bengaluru-based company plans to use the capital to strengthen its AI-driven offerings. It first introduced Ria, an AI-powered virtual assistant, in 2017, providing users with fitness and nutritional guidance in over 10 languages. With the new investment, HealthifyMe intends to further integrate generative AI, enabling nutritionists to deliver even more personalized health recommendations to users.

HealthifyMe has seen impressive growth, with gross margins increasing from 30% to 70% by incorporating AI with human experts. The company is optimistic that generative AI will further scale its business and enhance profitability. It also plans to enhance its Smart Plans, a key AI-powered feature that contributes significantly to its current subscriber base.

The platform, which serves over 35 million users across 300 cities, aims to achieve an annual recurring revenue (ARR) of $50 million in the coming months. HealthifyMe seeks to become the leading health and fitness app outside of the U.S. and China. Competitors include Ultrahuman, Cult.fit, and Fitterfly, which offer various services in health and wellness.

Co-founder and CEO Tushar Vashisht emphasized the company’s mission to “healthify” a billion people by blending human coaching with AI. He expressed gratitude for the investors’ support and underscored the importance of affordable and accessible health solutions powered by technology.

Course5 Intelligence Secures $53M in Second Funding Round Led by Nuvama Private Equity

Supriya Biswas
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Course5 Intelligence Secures $53M in Second Funding Round Led by Nuvama Private Equity

Course5 Intelligence, a leading analytics and AI solutions company, has successfully raised $53 million in its latest funding round, spearheaded by the Nuvama Crossover funds managed by Nuvama Asset Management Limited. The round also garnered participation from Carnelian Asset Advisors and its affiliates, marking a significant milestone in Course5’s expansion journey.

This funding round follows the initial close led by 360 ONE Asset Management Limited (formerly IIFL Asset Management) in May 2023, demonstrating continued investor confidence in the company’s vision and capabilities.

The newly acquired funds will fuel Course5’s plans for inorganic growth. Specifically, the company aims to strengthen its intellectual property (IP) portfolio, enhance its talent pool, and solidify key client partnerships. Additionally, the funds will support the company’s ongoing innovation efforts in applied AI fields, including computer perception, deep learning, natural language processing, and generative AI through its AI Labs.

In line with its expansion strategy, Course5 Intelligence has set aside approximately $80 million from its cash reserves and future cash flow for mergers and acquisitions (M&A). The company is currently in discussions with five potential acquisition targets and aims to finalize two deals within the next 12 months. These acquisitions are expected to focus on AI-driven companies in the US, UK, and India, each generating $10 million to $20 million in revenue, as well as smaller deep-tech AI startups.

Pranav Parikh, Managing Partner at Nuvama Private Equity, highlighted the global shift toward data-driven intelligence and the role of AI in this evolution. “The increasing complexity of data and the technological advancements in AI are driving widespread adoption of data-driven intelligence across enterprises. Course5, with its deep industry expertise and strong client base, is perfectly positioned to capitalize on this accelerating trend,” he said.

ICICI Securities and JM Financial served as exclusive financial advisors to Course5 Intelligence during the transaction.

Headquartered in Mumbai, Course5 Intelligence supports organizations in driving digital transformation through AI, advanced analytics, and actionable insights. The company’s solutions are designed to integrate data from both structured and unstructured sources, enabling businesses to make data-driven decisions for sustainable growth. Course5 serves a diverse range of industries, including technology, media, telecom, pharmaceuticals, consumer goods, and retail.

In addition, Course5 recently acquired Incivus, an AI-based ad creation and optimization startup. Incivus leverages AI technologies such as computer vision, generative AI, and natural language processing to provide granular insights into ad performance, predicting success with a high degree of accuracy. This acquisition further strengthens Course5’s AI capabilities, positioning it as a leader in the rapidly evolving digital analytics space.

Curefoods Gains ₹80 Crore Debt Funding from Binny and Jitender Kumar Bansal

Supriya Biswas
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Curefoods Gains ₹80 Crore Debt Funding from Binny and Jitender Kumar Bansal

Curefoods, the innovative cloud kitchen startup, has successfully raised approximately ₹80 crore (about $9.6 million) through debt financing from investors Binny Bansal and Jitender Kumar Bansal. This marks the Bengaluru-based company’s second significant fundraising effort in just six months.

According to filings with the Registrar of Companies (ROC), Curefoods has secured an ₹80 crore loan from the Bansals as part of an unsecured member deposit agreement detailed in the loan contract between the company and its investors.

Earlier this year, in March, Curefoods attracted $25 million in Series D funding from Three State Ventures, a fund established by Flipkart co-founder Binny Bansal. As highlighted by the startup intelligence platform TheKredible, Curefoods has amassed over $200 million in total funding to date.

A recent report by Moneycontrol indicates that the company is currently negotiating to raise an additional $40 million as part of its ongoing Series D round, which would include both primary and secondary transactions. With these developments, the company’s valuation is projected to approach the $500 million mark.

Founded in 2020, Curefoods operates a range of brands, including EatFit, Yumlane, Aligarh House Biryani, Masalabox, and CakeZone. It boasts a network of over 100 kitchens across 200 locations in 15 cities, supported by a robust backend infrastructure consisting of seven food factories and 150 multi-brand cloud kitchens.

In addition to its fundraising success, Curefoods has expanded its portfolio by acquiring two brands, YumLane Pizza and Millet Express, in 2023. In December, it also invested ₹10 crore (approximately $1.2 million) in Hogr, a social platform that facilitates restaurant and food discovery.

Curefoods has now positioned itself as the second-largest player in the cloud kitchen sector, trailing behind Rebel Foods. The company reported ₹384 crore in revenue for FY23, with figures for FY24 yet to be disclosed. In comparison, Rebel Foods achieved an operating revenue of ₹1,420 crore in FY24. Other notable competitors in the industry include EatClub and Biryani By Kilo, both of which reported revenues exceeding ₹300 crore in FY23.

Meesho Collaborates with D2C Brands, Attracts 32 Million Shoppers Ahead of Festivities

Supriya Biswas
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Meesho Collaborates with D2C Brands, Attracts 32 Million Shoppers Ahead of Festivities

As the festive season approaches, Meesho has announced partnerships with several direct-to-consumer (D2C) brands, successfully engaging 3.2 crore shoppers. The platform revealed that nearly 75% of its orders originated from tier 2 and beyond markets. Among the D2C brands that have shown remarkable growth, Liberty saw a staggering increase of 2.89 times, Bella Vita experienced a 2.5 times rise, and Denver achieved growth of 2.4 times.

Meesho has joined forces with a variety of well-known D2C brands, including Mamaearth, Denver, Himalaya, Bajaj, Joy, Lotus Herbals, Biotique, Bata, Paragon, Relaxo, and Liberty, among others. Their Meesho Mall now showcases over 1,000 national, regional, and D2C brands, with the company reporting nearly double the order growth for the platform.

Megha Agarwal, General Manager of Business at Meesho, expressed enthusiasm about the partnerships: “We are excited to welcome these prestigious brands to our platform. These collaborations aim to provide customers access to an exceptional selection of products from both established and emerging brands, all in one place. In the past six months, Meesho Mall has welcomed 3.2 crore shoppers, demonstrating increasing consumer confidence.”

Zairus Master, Chief Business Officer of Honasa Consumer Limited, remarked on the collaboration with Mamaearth: “We are thrilled to offer Mamaearth’s products through Meesho Mall and to broaden our reach, especially in areas where access to high-quality personal care items is limited. This partnership not only accelerates our growth but also aligns with our goal of providing safe and non-toxic products to homes across India. As we prepare for the festive season, we are optimistic that our ongoing collaboration with Meesho Mall will help us share nature-inspired wellness with millions more.”

Two Point O Capital Secures $6.3M Seed Funding to Drive Clean Energy Financing Solutions

Supriya Biswas
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Two Point O Capital Secures $6.3M Seed Funding to Drive Clean Energy Financing Solutions 
Two Point O Capital, a climate-focused financing platform, has successfully raised $6.3 million in a seed funding round. The investment was led by Omnivore and participation from other notable investors like Multiply Ventures, RTP Global, GrowX, Spectrum Impact, and several prominent angel investors.

The newly acquired funds will be allocated to enhancing its tech-driven platform, designed for sourcing, financing, and monitoring distributed clean energy projects. A portion will also be directed toward expanding its team with top-tier talent.

Established in 2024 by Archit Mehrotra, Karan Bhutani, Manya Ranjan, and Shashidhar Reddy, Two Point O Capital specializes in offering flexible financing solutions for clean energy projects in the commercial and industrial sectors.

Based in Gurugram, the startup primarily focuses on solar rooftops, energy efficiency, and wastewater treatment, providing leasing and capex financing options. Additionally, it aims to collaborate with both operational and financial partners to build and manage a high-quality portfolio on its platform.

Namma Yatri Secures $11 Million to Transform Urban Mobility in Bengaluru

Supriya Biswas
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Namma Yatri Secures $11 Million to Transform Urban Mobility in Bengaluru

Namma Yatri, a leading mobility app in Bengaluru, has secured $11 million in a pre-Series A funding round to further enhance public transportation and empower local drivers. The round was led by Blume Ventures and Antler, with Google and other investors contributing to support Namma Yatri’s mission to offer a seamless, reliable, and sustainable transportation experience for the city’s commuters.

Launched in 2022, Namma Yatri is part of a broader suite of community-driven apps developed by Moving Tech, including Yatri Sathi, Yatri, and Mana Yatri. Built entirely as an open-source platform, Namma Yatri leverages the ONDC Network, aiming to create a transparent, efficient, and scalable transportation ecosystem. Its vision is to function as the “UPI for mobility,” making transportation as accessible and integrated as digital payments in India.

Namma Yatri focuses on improving driver earnings through direct-to-driver and multimodal transportation models, offering affordable solutions to commuters while simultaneously uplifting the livelihoods of local chauffeurs. This funding is a major milestone in Namma Yatri’s journey to becoming the go-to mobility platform for Bengaluru and expanding its impact in urban transport across India.

SEBI Greenlights Mobikwik’s IPO Launch

Supriya Biswas
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SEBI Greenlights Mobikwik’s IPO Launch

The Securities and Exchange Board of India (SEBI) has given the go-ahead for One Mobikwik Systems to initiate its Initial Public Offering (IPO). The fintech firm submitted its IPO documents to SEBI back in January of this year.

Mobikwik plans to secure ₹700 crore through this IPO, with intentions to allocate ₹250 crore towards expanding its financial services sector. Additionally, ₹135 crore is earmarked for enhancing its payment services operations. The company will invest another ₹135 crore in data analytics, machine learning, artificial intelligence, as well as product and technology advancements. Furthermore, ₹70.28 crore will be directed towards capital expenditures for payment devices and other general corporate needs.

Founded by Bipin Preet Singh and Upasana Taku, One Mobikwik Systems operates a platform designed to facilitate a dual payment network catering to both consumers and merchants. Its mission is to promote financial inclusion for underserved segments of the Indian population. The company offers a diverse array of payment solutions, including online checkout services, Merchant Cash, Advance MobiKwik Vibe (Soundbox), MobiKwik EDC Machine, and Kwik QR scan and pay functionalities.

Apptile Raises $1.2 Million to Revolutionize No-Code Mobile App Development

Supriya Biswas
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Apptile Raises $1.2 Million to Revolutionize No-Code Mobile App Development

Apptile, a no-code mobile app development platform, has raised $1.2 million in a funding round led by Singularity Early Opportunities Fund, with participation from Crown Trust and DeVC. This brings its total funding to $3.7 million, highlighting strong interest in simplifying mobile app creation for businesses of all sizes.

The new funds will help Apptile advance its goal of making mobile app development more accessible by eliminating the need for coding expertise. Using an intuitive drag-and-drop interface, users can create fully customized mobile applications, making it particularly beneficial for small to medium-sized enterprises and startups.

Apptile aims to expand its product offerings, focusing on sectors like e-commerce and direct-to-consumer brands, which have already begun adopting the platform. Founded in 2023 by Rohit Modi, Samyam Annappa, and Vishal Sood, the platform has enabled over 300 brands to launch their apps and recently introduced a live commerce solution for enhanced customer engagement.

By fostering a community of creators who can utilize technology without coding, Apptile is positioned to lead in the no-code development space, making app creation accessible for all businesses.

Centricity Raises $20 Million Seed Funding to Enhance Wealth Management Solutions

Supriya Biswas
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Centricity Raises $20 Million Seed Funding to Enhance Wealth Management Solutions

Centricity, a rising player in tech-driven wealth management, has successfully secured $20 million in seed funding. The financing round was spearheaded by Lightspeed, with contributions from Paramark VC, the Burman Family Office, Shantanu Agarwal, and several distinguished angel investors, including MS Dhoni’s family office.

This funding round values Centricity at $125 million and will be used to scale its two main platforms: Invictus and One Digital. The company intends to expand its technology development team, increasing its workforce from 75 to over 150 employees, with a focus on advancements in generative AI, insure-tech, and broking-tech. Centricity is also looking to broaden its service offerings in private banking and is strategizing for potential acquisitions to foster growth. The investment will enhance the company’s technological infrastructure and boost its market presence.

Centricity’s platforms aim to streamline financial portfolio management and enhance accessibility for financial advisors and clients, particularly in tier 2 and tier 3 cities. This strategy aligns with the company’s mission to democratize wealth management throughout India.

Swiggy Set to Launch IPO in November After SEBI Approval

Supriya Biswas
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0
Swiggy Set to Launch IPO in November After SEBI Approval

Swiggy has gained approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO), which is slated for launch in November. The food delivery service had submitted its offer documents in April 2023 using the confidential pre-filing method, keeping details under wraps until the public offering is ready.

Reports indicate that Swiggy plans to raise ₹11,000 crore through the IPO, with a fresh issue accounting for ₹5,000 crore. As of August 2023, the company holds a valuation of $9.3 billion and is backed by prominent investors, including Prosus, SoftBank, and Accel.

Before the IPO goes live, Swiggy must present its updated draft red herring prospectus (UDRHP) for a public comment period lasting 21 days. This process allows potential investors and stakeholders to review the information and provide feedback before the company finalizes its offering.

By taking this step, Swiggy will become the second food delivery platform to be listed on Indian stock exchanges, following Zomato. The confidential filing route, introduced in 2022, has also been employed by companies such as Oyo and Tata Play, which have yet to complete their own IPO processes.

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