Using the funding, FlexifyMe will develop progressive exercises that address chronic pain, a global health issue that affects over 2 billion people worldwide.
FlexifyMe, a chronic pain management platform, has concluded its seed funding round, raising INR 10 Cr from key investors IvyCap Ventures and Flipkart Ventures. Other notable participants include GSF, Chandigarh Angels, Venture Catalyst, and Ah Ventures.
The funding will be strategically deployed to enhance FlexifyMe's technology, focusing on progressive exercises to address the global challenge of chronic pain affecting over two billion individuals.
In a joint statement, Manjeet Singh and Amit Bhayani, cofounders, FlexifyMe, said, "Leveraging AI, machine learning, and data analytics, we offer personalised chronic pain management. The gratitude we feel for the investment round and the trust placed in our vision by investors is immense. Our commitment is to leverage advanced technology in healthcare to assist one million individuals in finding relief from chronic pain by 2027."
FlexifyMe, founded in October 2021 by entrepreneurs Manjeet Singh and Amit Bhayani, employs patented AI-based software to analyse joint movements. The platform connects users with expert Orthos, Physiotherapists, and Yoga therapists, offering a permanent solution to chronic pain. The startup claims to boast a user base exceeding 50,000 from 26 countries.
Additionally, the funds will be directed towards deploying advanced technology and introducing progressive exercises to elevate workplace wellness and enhance employee productivity.
Speaking about the investment, Vikram Gupta, founder and managing partner of IvyCap Ventures, said, "FlexifyMe's innovative approach convinced us of its potential to bring about significant change in healthcare. We believe in the efficacy of FlexifyMe's unique platform, supported by its dedicated team, to improve the lives of millions grappling with chronic pain. The ambitious goals set by the founders align seamlessly with our vision for impactful investments."
FlexifyMe aims to achieve clinical validation and FDA approval in the short term while establishing strategic partnerships with insurance companies, hospitals, and multinational corporations for global accessibility in the long term.
Moreover, the startup aims to provide lasting relief by comprehending ergonomic challenges, eradicating postural misalignments, and contributing to stress alleviation.
FlexifyMe secured additional funding on December 23 from ah! Ventures Angel Platform, contributing to the company's 5X expansion over the past 12 months. The funds, supported by Flipkart Ventures GSF, iHub Anubhuti, Chandigarh Angels (CAN), Venture Catalyst, and individual investors, will play a crucial role in advancing FlexifyMe's trajectory.
Previously, FlexifyMe had secured $1 million in funding led by Flipkart Ventures. The funds were directed towards enhancing the AI motion coach and expanding the platform's reach in the MENA and North American regions.
FlexifyMe's growth trajectory aligns with its impressive 5X expansion over the last 12 months. Notable contributors to this funding initiative include GSF, iHub Anubhuti, Chandigarh Angels (CAN), Venture Catalyst, and OneCapital.
The health-tech sector largely is witnessing increased funding activities. CureBay, a healthtech startup, recently raised INR 62 Cr (approximately $7.4 million) in its Series A1 funding round, led by existing investor Elevar Equity. The funds will be utilised to develop a robust health data platform and hire professionals in various domains.
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