Chennai: AI-powered health and fitness app greet me has raised $30 million in a financing prior to Series D round led by top investors LeapFrog Investments and Khosla Ventures along with Finnish development financier FinnFund and Dutch investment firm Van Lanschot Kempen.
existing investors Unilever companies, chirata companies, Blume Ventures and HealthQuad also participated in the round which also included a portion of venture debt. Including this round, greet me has raised $130 million to date, and its latest money round was in 2021.
The company did not disclose the valuation, but TOI has learned that the round has been raised as a convertible note linked to the next round and therefore without setting valuations. The convertible note model has become a popular financing instrument among startups and investors globally given the threat of raising funds at reduced valuations.
The digital wellbeing platform aims to use the investment to enhance the company’s AI capabilities, acquire top-tier tech talent, and for global expansion. HealthifyMe is working to augment the capabilities of “Ria”, its AI-powered virtual nutritionist, using generative AI. It is also revamping its trainer-focused system with generative AI to create personalized nutrition tips and improve the productivity of its nutritionists and trainers.
With a user base of more than 35 million, HealthifyMe says it is on track to achieve $50 million in annual recurring revenue (ARR) in the coming months. Its users have collectively lost more than 30 million pounds of weight, tracked billions of meals, and burned more than 66 billion calories to date.
