Health Startup Grow Fit Closes Series A Funding of $4.5M from MEMG and Other Investors

Growth Story-backed mobile health company Grow Fit announced USD $4.5 million in Series A funding led by MEMG (Manipal Education and Medical Group), the PE arm of the Manipal Group. With this, Dr. Ranjan Pai, the MD & CEO of MEMG, will be joining the Board of Directors. The SAR Group and The Grover Trust, Grow Fit’s seed investors, also participated in this round.

Started in September 2015, Grow Fit is a full-stack health tech company committed to helping Indians achieve peak wellness through a combination of data science, medical expertise and personalised inputs. To help the over 300 million Indians who are at risk of contracting lifestyle disease, Grow Fit offers a comprehensive approach combining expert coaching, health foods and behavioral insights through their scalable technology platform. With a 80%+ success rate, the company is poised to take its unique approach further with this funding. The Grow Fit mobile app has been downloaded over 300,000 times (Android and iOS) and more than 150,000 diet charts have been generated for users. The company uses data science and machine learning to identify and validate strategies for customer success. Grow Fit recently also expanded into the Functional Beverages segment with the acquisition of Drink King, a nutritional beverage platform started in early 2015.

Jyotsna Pattabiraman, Founder and CEO at Grow Fit said, “Grow Fit combines data science, medical science and behavioural insights to help people achieve their health goals and live their best lives. We are an outcome-oriented company and have always stressed a science-and-data approach. I am delighted that leading professionals from the Manipal Hospital have validated our approach. Grow Fit now has the backing of one of the top medical groups in the country and we are excited about the next phase of growth with this investment."

The funding led by MEMG is also unique as the development marks a rare instance where an Indian health tech company has been validated by doctors as well as investors.

K Ganesh, Partner, Growth Story, the entrepreneurship platform that promotes high-potential ventures including Grow Fit said: “Companies which have the right genes can always raise funding, even in a somewhat tight market. Grow Fit’s laser-like focus on customer outcomes sets it apart from others. It takes a unique dedication to go against the conventional wisdom of transactions and the team at Grow Fit has demonstrated this commitment time and again."

Dr. Ranjan Pai, CEO and MD, MEMG said, “Grow Fit has the right approach to reach the millions of Indians who can benefit from better nutrition and coaching. I was impressed by their novel approach, their investment in R&D and their technology platform. Indians need to make drastic changes to their health habits and Grow Fit makes it effortless for them. This is a huge opportunity and we are looking forward to unlocking it."

Grow Fit has a comprehensive approach that addresses all aspects of wellness including nutrition, activity, skin/hair, sleep and mental wellness. Through their expert platform, users across India are connected with experts chosen based on their clinical/scientific background and experience with lifestyle diseases. In fact, Grow Fit has gone beyond advice to cover the last mile, formulating foods that have been shown to improve health metrics significantly in a matter of weeks.

Kris Gopalakrishnan, Co-Founder, Infosys and an early investor in Grow Fit, commented, “Grow Fit has the ability to address both national and international markets. As prosperity increases globally, our nutritional habits have to compensate for our sedentary lifestyle and dependence on fast foods. Grow Fit has a relevant model that could address this gap and be effective anywhere in the world.”

This investment comes at a time when countries the world over are grappling with healthcare costs. According to the World Economic Forum, in India alone, over six million lives are lost every year due to lifestyle diseases and the economic burden of lifestyle diseases has been estimated to be over $4.58 trillion by 2030.

Grow Fit's future plans include expanding solutions to fertility, joint health, stress management and more, all through the mobile. The venture also plans to integrate different sources of data from wearable technology and medical reports in order to make the app a one-stop, comprehensive companion for wellness.

GrowthStory Backed Health-Tech Startup Grow Fit Acquires Drink King

Mobile health company Grow Fit, which is committed to helping more than 300 million Indians at risk of contracting lifestyle diseases achieve peak wellness, has announced its expansion into Functional Beverages with the acquisition of Drink King. The acquisition, which was made for an undisclosed consideration of cash and stock, makes Grow Fit a one-stop solution for those seeking a companion on their preventive health and wellness journey.

Grow Fit is backed by entrepreneurship platform, GrowthStory.

Post the acquisition, Grow Fit’s offerings will span areas including expert health advice, customised diet plans, therapeutic and functional foods, and nutritional beverages.

Following the trend in the West, meal replacements are gaining popularity in India - especially among the younger generation interested in adopting a healthy lifestyle.  Analysts forecast the global meal replacement market to grow at a CAGR of 7.1% between 2016 -2020. According to a recent PWC report, India ranks among the top 10 global growth markets for nutrition F&B. With the fast paced lives of today’s generation and increasing focus on preventive healthcare, the category is expected to expand.

A nutritional beverage platform started in early 2015, Drink King provides millennials and busy professionals with wholesome beverages that could serve as a quick meal while also fulfilling daily nutritional requirements. Catering to committed gym-goers, Drink King offers customised options for special regimes like detox, muscle gain and weight loss.

Commenting on the acquisition, Jyotsna Pattabiraman, CEO at Grow Fit said: “Grow Fit combines data science, medical science and behavioural insights to guide people to a healthier, happier version of themselves. We are the onlymobile health solution that goes beyond giving advice to actual implementation. Our acquisition of Drink King augments our commitment to providing our 100,000 customers comprehensive and easy solutions for all their everyday health and wellness needs”.

Ritvik Sharma and Arpit Goyal, Co-Founders, Drink King, said: “Our alignment with Grow Fit helps us expand our service offering and meet the growing demand for healthy meal replacement options in India. We started Drink King after finding a lack of healthy options available both online and on-ground. What is available today is mostly either too high in sugar, or does not have enough protein, fat, or fiber. Drink King allows customers to order custom smoothies that are prepared fresh from organic fruits, green vegetables and vital supplements.”

There are around 3 million active gym goers/ health club members in India. The key to capturing this segment is customizing the health shakes to individuals that appeal to their needs and also providing them consultations round the clock. While there are plenty of options available in the market, each body reacts differently to foods and supplements. Understanding what works well for their body is of utmost importance and this is why a scientifically engineered diet is a must. The integration of Drink King into Grow Fit’s operations is a step forward in this direction.

Benefits of using meal replacement shakes and nutrition bars in weight management include:

• Individuals are provided with a pre-measured amount of food with a known calorie level, thus negating the need to measure or weigh meals or to estimate portion sizes;


• Food is easy to transport and prepare and requires no clean-up. Individuals can these simple, convenient preparations instead of devoting time and energy to planning, preparing, and cleaning up after a meal;


• Dieters have reduced contact with calorie-dense foods and the consumption of shakes ad bars involves less decision-making (e.g., consuming a shake or bar during a lunch break at work is easier than going to a restaurant and making a healthy food choice in the recommended portion size to meet weight loss goals);


• Interestingly, such shakes may further support weight loss via sensory-specific satiety. Sensory-specific satiety refers to the decreasing pleasure of tasting, smelling, or eating the same food or beverage until full or satisfied. Using monotonous meals or snacks (such as shakes or bars) triggers sensory-specific satiety, which may help individuals further decrease their caloric intake

Grow Fit is a mobile health companion that uses artificial intelligence to help over 300 million Indians achieve peak wellness. Its easy-to-use 1:1 chat-based coaching programme connects users all over India to experts in mental and physical health and covers sleep, skin and hair, nutrition and exercise. Besides physical health, Grow Fit also encompasses mental health through a separate app called Grow Self. In addition to the nutrition advice and customized diet plans, Grow Fit also offers fresh and packaged foods that help users improve their health, with dramatic measurable results. Backed by Growth Story, the venture-builder platform founded by K. Ganesh and Meena Ganesh; Grow Fit is a Bangalore based start-up that was launched in February 2016.