Brains Behind the Gains: Meet the Minds Building a Healthier Tomorrow

Tushar Vashisht 

Tushar Vashisht is a visionary entrepreneur and the co-founder and CEO of HealthifyMe. Tushar has led HealthifyMe for over 13 years, steering its growth from a startup to a major player in health and wellness. Born in Karnal, Haryana, Tushar completed his early education in Haryana and New Delhi. He earned a Bachelor of Applied Science in Computer Science from the University of Pennsylvania in 2007. Before founding HealthifyMe, Tushar worked with UIDAI as a Manager of Project Strategy, as an Analyst in Technology Investment Banking in San Francisco and later as an analyst in Corporate Finance for Financial Institutions Group (FIG) & Principal Investments in Singapore. Tushar Vashisht

Mathew Cherian

Mathew Cherian is a seasoned entrepreneur and technology executive with over 15 years of product and operational leadership experience. He holds an MS in both Computer Science and Technology & Policy from the Massachusetts Institute of Technology (MIT). He was the Chief Product Officer and also served as a Co-Founder of HealthifyMe from 2011 – 2013. Later, he joined BitSight, where he held multiple executive roles, including Vice President and General Manager, and played a crucial role in scaling the company to over $100 million in revenue. Known for his expertise in business strategy and product management, he continues to mentor various startups. Mathew Cherian

Sachin Shenoy

Sachin is a seasoned engineer with about two decades of experience, including six years at Google. He holds a B.Tech in Electrical and Electronics Engineering from the University of Calicut and has extensive experience in building, managing, and leading high-performing engineering teams. He served as the Chief Technology Officer (CTO) and Co-founder of HealthifyMe from 2012 – 2022. Sachin Shenoy

The Founding Story

The idea for HealthifyMe emerged from Tushar Vashisht’s personal experience. After returning to India, he gained significant weight and struggled to find a calorie-tracking app suitable for Indian diets. Recognizing this gap, Tushar and Mathew began compiling an extensive database of Indian foods and their nutritional values. They started with an Excel sheet and, with Sachin’s technical expertise, developed it into a comprehensive digital platform.

In 2012, they launched HealthifyMe in Bengaluru, aiming to provide personalized health and fitness guidance to users. The platform combined technology with human expertise, offering features like calorie tracking, meal logging, and access to nutritionists and fitness coaches. Over time, HealthifyMe expanded its services and user base, becoming a leading health and wellness app in India and Southeast Asia.

Global mHealth Apps Market : Riding the Digital Wellness Wave

The mobile health (mHealth) apps market is booming, transforming healthcare delivery worldwide. In 2023, the global mHealth apps market was valued at approximately USD 67.85 billion. Experts project it to grow at a Compound Annual Growth Rate (CAGR) of 17.8% from 2024 to 2032, reaching around USD 296.40 billion by 2032. Expert Market Research

Several factors drive this rapid growth. The widespread adoption of smartphones and improved internet access have made mHealth apps more accessible. Additionally, the COVID-19 pandemic accelerated the need for remote healthcare solutions, boosting mHealth app usage. mHealth apps offer various services, including fitness tracking, disease management, and telemedicine consultations. They empower users to monitor their health, access medical information, and connect with healthcare providers conveniently. This convenience has led to increased user engagement and satisfaction.

The market is also witnessing technological advancements. Integration of Artificial Intelligence (AI) and machine learning enhances personalized health recommendations. Wearable devices sync with mHealth apps, providing real-time health data. These innovations improve user experience and health outcomes.

However, challenges exist. Data privacy concerns and regulatory hurdles pose obstacles. Ensuring user data security and compliance with health regulations is crucial for sustained growth. Despite these challenges, the future of the mHealth apps market looks promising. Continuous technological advancements and increasing health awareness among individuals are expected to drive further growth. As more people embrace digital health solutions, mHealth apps will play a vital role in global healthcare.

Mission Nutrition: HealthifyMe’s Vision and the Power of Precision Health

Mission

HealthifyMe’s mission is to empower individuals to take control of their health and well-being through personalized nutrition and fitness solutions. They aim to make healthy living accessible and sustainable for everyone.

Vision

The company’s vision is to create a world where everyone can achieve their health goals and live their best life. They strive to revolutionize the way people approach health and wellness by leveraging technology to provide personalized and data-driven solutions.

Problems They Solve

HealthifyMe addresses several health and wellness challenges:

• Obesity and Weight Management: By offering personalized diet and fitness plans, the app helps users manage weight effectively.
• Lifestyle Diseases: The platform provides tools to monitor and improve conditions like diabetes and hypertension through diet and exercise tracking.
• Lack of Personalized Guidance: HealthifyMe combines technology with human expertise to offer tailored health advice, filling the gap left by generic fitness apps.

Business Model

HealthifyMe operates on a freemium model:

• Free Features: Users can access basic features like calorie tracking and meal logging at no cost.
• Premium Subscription: For advanced features, including personalized health plans and direct consultations with experts, users can opt for a paid subscription.

Additionally, HealthifyMe has a B2B2C model, partnering with corporates and healthcare institutions to offer wellness solutions to employees and clients. This approach diversifies their revenue streams and expands their user base.

From Smart Plans to Sugar Scans: HealthifyMe’s Toolbox for Total Wellness

HealthifyMe offers a comprehensive suite of products and services designed to assist users in achieving their health and wellness goals. It offers personalized diet plans, fitness routines, and real-time coaching from nutritionists and trainers.

The core of HealthifyMe’s offerings is its mobile application, available on Android and iOS platforms. The app provides personalized diet plans, fitness routines, and real-time coaching from nutritionists and trainers. Users can track their calorie intake, monitor physical activity, and receive tailored advice to meet their health objectives. HealthifyMe App 

Personalized Diet and Workout Plans

HealthifyMe offers tailored diet and workout plans crafted by certified nutritionists and fitness coaches. The app considers your lifestyle, body metrics, and health data to build personalized plans that aim to help users lose weight, improve immunity, and reach fitness goals. Users receive guidance on the right food choices and workouts that fit their schedules and preferences​.

AI-Powered Nutritionist: Ria

HealthifyMe introduced Ria, an AI-driven virtual nutritionist, to provide users with instant responses to their health and fitness queries. Ria leverages data from millions of food logs and interactions to offer personalized recommendations, making health guidance more accessible and efficient.

Cutting-Edge Health Tech: Smart Scale and CGM

For a deeper health assessment, HealthifyMe integrates advanced tools like the Smart Scale and Continuous Glucose Monitoring (CGM). The Smart Scale provides 12 body metrics, including body fat percentage and muscle mass, to give a comprehensive view of body composition. CGM monitors blood glucose in real-time, helping coaches create data-driven, precise dietary plans based on the user’s metabolic responses​.

Advanced Tracking Tools

The app includes a variety of lifestyle trackers, such as a Nutrition Tracker, Workout Tracker, Water Tracker, and Weight Tracker, to help users monitor their daily habits. The Nutrition Tracker boasts a database of over 10,000 Indian foods, allowing users to accurately track macronutrients like protein, carbs, and fats, essential for achieving balanced nutrition.

HealthifySmart Plan

The HealthifySmart Plan offers intelligent meal tracking, personalized diet plans, adaptable fitness programs, and access to a vast library of nutritious recipes. It also includes AI-powered nutritional guidance from Ria and consistent progress reports to keep users motivated.

HealthifyMe Store

The HealthifyMe Store is an extension of the app, offering health devices, healthy foods, and health plans designed to support users in their wellness journey. Products include health devices like the CGM, healthy food options, and various health plans tailored to individual needs..

Integration with Wearable Devices

HealthifyMe integrates with popular wearable devices, allowing users to sync data seamlessly. This integration enables comprehensive tracking of physical activities, sleep patterns, and other health metrics, providing a holistic view of one’s health.

Raising the Health Bar: An Impact Worth Applauding

HealthifyMe has significantly influenced the digital health and wellness sector. As of 2024, the app boasts over 35 million downloads, reflecting its widespread adoption. CXO Today

In 2015, the app received the Google Play “Top Developer” badge, recognizing its excellence in app development. It was also named among Google Play’s “Best Apps – Made in India” in 2016 and 2017. In 2017, HealthifyMe received the Google Play “Editor’s Choice” award in the Health & Fitness category, highlighting its quality and user satisfaction. Money Inc.

In 2021, Tushar Vashisht, CEO and co-founder, was honored with the Hindustan Times Trailblazer Award for his efforts in helping many Indians normalize their body weights, adopt a healthy diet, and become fit amid the pandemic. Hindustan Times

Abbott Collaboration

In February 2022, HealthifyMe partnered with Abbott, a global healthcare leader, to provide holistic diabetes management like glucose monitoring solutions to millions of people living with diabetes. Abbott

Swiggy Partnership

In December 2023, HealthifyMe joined forces with Swiggy, a leading food delivery platform. This partnership aimed to offer tailored meal options to users, aligning with their dietary preferences and health goals. Swiggy

Corporate Wellness Programs

HealthifyMe has collaborated with various corporations to provide wellness solutions for employees. These programs include personalized diet and fitness plans, contributing to improved employee health and productivity. 

Dollars and Cents of Health: HealthifyMe’s Climb to Success

HealthifyMe has raised significant funding over the years, amassing around $150 million through nine funding rounds. These funds have propelled its growth in the mHealth sector, supporting product enhancements, geographical expansion, and innovative health solutions. Tracxn

Early Investments and Initial Growth

HealthifyMe’s funding journey began with angel investments in 2012, raising $250,000 from Sashi Parvatha Reddi, Arun Seth, and others. In 2016, they secured a $6 million Series A round, backed by Blume Ventures, Chiratae Ventures, and Inventus Capital Partners. This early-stage funding was vital in building HealthifyMe’s app and expanding its user base.

Expanding through Series B and Venture Debt

HealthifyMe’s Series B rounds in 2018 raised $12 million and $6 million, attracting investors like Sistema Asia Capital, Samsung NEXT, and Athera. The company also raised undisclosed venture debt from Innoven Capital that year. By this stage, HealthifyMe’s annual revenue had grown to $5.5 million.

Series C Success and Major Partnerships

In July 2021, HealthifyMe achieved its most significant funding round, raising $75 million in Series C financing. This round was led by Khosla Ventures, LeapFrog Investments, and Sistema Asia Capital, with facilitation by DC Advisory.

Continued Series C Funding

In June 2023, HealthifyMe secured another $30 million in Series C funding from investors such as Finnfund, Unilever Ventures, Chiratae Ventures, and HealthQuad. They also raised an undisclosed venture debt amount

Latest Round and Future Plans

Most recently, in October 2024, HealthifyMe raised an additional $20 million in Series C financing. This round included funding from Khosla Ventures, LeapFrog Investments, and Claypond Capital, supporting its continued expansion and technology development.

Revenue

In FY 2019-20, HealthifyMe reported revenue from operations of $6.4 million. The following year, FY 2020-21, saw a significant increase in revenue, reaching $10.4 million. This 62.5% growth can be attributed to the rising adoption of digital health solutions, especially during the COVID-19 pandemic. The most recent fiscal year, FY 2022-23, saw HealthifyMe’s revenue from operations reach $22.1 million. 

A Journey For A Healthier Tomorrow, Today

Imagine a personal health coach in your pocket—HealthifyMe makes that a reality. The company’s digital platform offers a complete health and wellness solution, transforming how people approach fitness and nutrition.

HealthifyMe uses artificial intelligence and real-time coaching to deliver personalized diet plans, fitness routines, and health advice. The app’s AI nutritionist, Ria, offers instant responses, analyzing data from millions of users to provide tailored recommendations. Whether it’s tracking calories, monitoring glucose levels, or staying on top of fitness goals, HealthifyMe puts users in control.

By integrating with wearable devices, HealthifyMe makes health tracking easy. Its app syncs with fitness trackers and monitors, offering a holistic view of health. Plus, real nutritionists and trainers work alongside the app’s technology to guide users every step of the way.

If you’re inspired by HealthifyMe’s journey, it’s time to act on your ideas. The digital health market is thriving, and there’s room for innovation. Start brainstorming, refine your concept, and explore how tech can drive positive change. And if you need more inspiration, check out other articles on Venture Kites. Explore stories of groundbreaking ventures and get motivated to work on your dreams!