Diabetes and high blood pressure were the leading causes of death in this pandemic, says Gautam Chopra, co-founder and CEO of BeatO, a leading platform for diabetes management. “The situation looks even worse when you consider that of the 200 million Indians with these conditions, 80% have uncontrolled values. With our holistic technology-based solution that supports end-to-end management for these conditions, we have a proven product and technology with a highly committed and rapidly growing membership base, ”he adds.
Recently, New Delhi-based BeatO, a digital care ecosystem for chronic disease management, announced that it has received Rs.42 billion in funding from US venture capital company W Health Ventures. PharmEasy (a brand of Threpsi Solutions), Merisis VP and existing investors Orios VP, Leo Capital and others also participated in the financing. With this new funding, BeatO raised 75 billion rupees in the series A and pre-series B rounds last year. The fresh funds will be used in two key areas – subscriber base growth across multiple channels and regions, and product improvement to care for other cardiometabolic disorders.
BeatO’s digital health platform combines real-time monitoring through its IoT connected devices and app ecosystem to provide AI-driven personalized insights and proactive interventions from doctors and health trainers to patients with chronic conditions like diabetes. BeatO’s smartphone glucometers are extremely small, so you can easily take them with you and record accurate readings.
After the Covid-19 outbreak in the country, BeatO saw significant double-digit growth in both members and revenue from the previous month. BeatO has expanded to 500,000 app installs and 300,000 paying members (adding 25,000 paying members every month). The company has an annual gross sales run rate of Rs 70 crore.
This growth is supported by a sharp increase in patient engagement. The average BeatO member measures their blood sugar about 9 times a month, which is three times more than the Indian average and can get the sugar level under control within three months. This is largely due to BeatO’s easy-to-use app (which makes it easy to measure and track blood sugar levels), real-time actionable insights, and data-driven proactive intervention by its health trainers and doctors.
More engagement leads to better clinical outcomes. BeatO’s hands-on, evidence-based studies have been published in the prestigious American Diabetes Association and in the Advanced Technologies and Treatment for Diabetes forums. These large population-based studies from India showed that BeatO’s program can reduce the average blood sugar level by 10% and the incidence of hypoglycemia by 52% in patients prone to hypoglycemia within 30 days.