Noida-based Fused Training is focused on the fitness of people living with Type 1 Diabetes
The deal is expected to improve Fused Training’s presence and automate many of its programmes
India’s healthtech market is estimated to reach $21.3 Bn by 2025
Healthtech startup Phablecare has acquired Fused Training, a Type-1 Diabetes health management startup. With this acquisition, Phablecare plans to strengthen its Type-1 Diabetes vertical.
Noida-based Fused Training is focused on the fitness of people living with Type 1 Diabetes, while Sahil Madan, the founder himself, is a Type-1 diabetic. The startup claims to have combined theoretical science and practical experience to tackle the disease.
“We’re thrilled to be able to add this diverse experience through Fused Training to our Type-1 Diabetes vertical. We are confident that Sahil will contribute to our mission and capability of assisting chronic disease sufferers in managing their illness better and at a lower cost to the Type-1 diabetes audience,” Mukesh Bansal and Sumit Sinha, cofounders of Phablecare, said.
Bengaluru-based Phablecare raised $12 Mn in its Series A round from Manipal Hospitals, in February 2021. At the time of the fundraising, the startup said it would be using this fund to enhance its technology and IP capabilities, increase its user base and expand into multiple cities. Later in the year, it raised $24.5 Mn in a fresh round led by Kaalari Capital, Inc42 reported.
“Being the only company working for T-1 Diabetes Management & Sports-Fitness in India, we are thrilled to begin this new journey with the Phablecare team. Fused Training’s vision remains unchanged, and this collaboration will help us improve our presence and automate many of our programmes during this transition,” Sahil Madan, founder of Fused Training stated.
Founded by Mukesh Bansal and Sumit Sinha in 2018, Phablecare is an app-based and specialised platform for chronic disease care. The disease management app aims to bridge the gap between doctors and patients through a full-stack solution. It currently claims to serve more than 3M patients and 10k+ doctors across India.
According to an Inc42 report, India’s healthtech market is estimated to reach $21.3 Bn by 2025, acquiring 3.2% of the global market. In the crowded market, Phable competes against multiple players such as Lybrate, Practo, Medibuddy among others. A few days ago, another healthtech startup Qure.ai raised $40 Mn in a strategic funding round led by Novo Holdings and HealthQuad.