India-based Manna Healthcare Pvt. Ltd which owns and operates Obino, a virtual weight loss coaching platform, has raised seed round of funding from US-based venture capital fund RoundGlass Partners. The financial figures of the investment have not been disclosed yet.
According to Obino's Founder and CEO, Ritu Soni Srivastava, the funds will be used to enhance the product and marketing activities.
Founded in August 2014, Obino offers weight-loss coaching services with the help of nutritionists on its platform. With the help of an artificial intelligence technology, the service personalizes content for each user. Right now, the company has two nutritionists on the platform with plans to have close to 40 in the next few months.
Obino claims to have 10,000 users with over 500 paid clients.The basic service that includes a calorie counter, recommendation for diet, exercise regime and reminders is free, while customized fitness plans and constant monitoring cost a premium, ranging from Rs.499 to Rs.1,499 depending on the level of engagement.
"We use mobile app-based technology so that the Obino coach is partnered directly with our users helping them learn to make simple, practical and sustainable lifestyle choices, every day," Srivastava said. "It gives our customers control over their health by providing them with the right information and tools to make better choices."
Obino claims to have 10,000 users with over 500 paid clients. The overall Indian healthcare market today is worth $100 billion and is expected to grow at a CAGR of 22.9% to hit $280 billion by 2020.