News and Insights | Why We Invested

Why We Invested:

April 29, 2024

By Karan Mohla, General Partner and Deepanshu Pattanayak, Principal, B Capital

B Capital’s HealthTech Focus

Last year, B Capital released a report in partnership with BCG that focused on trends in India’s healthcare sector. The report highlighted the need for digital healthcare solutions, especially those that employ an omnichannel approach.

Sugarfit embodies this concept by addressing one of India’s most prevalent chronic health concerns through a balanced approach combining product innovation with appropriate human intervention – thereby fostering the trust and adherence that is essential to deliver positive clinical outcomes.

Addressing the Challenges of Diabetes Care in India

India is known as the diabetes capital of the world. According to a recent report by ICMR (Indian Council of Medical Research), more than 100 million Indians aged 20 or older are currently diagnosed with diabetes, accounting for ~11% of the total population, while another 136 million are pre-diabetic. The actual number is potentially much higher as there are many more who remain undiagnosed.

After speaking with more than 150 diabetics, we learned more about the key issues faced when managing this disease. More than 50% of respondents acknowledged the importance of nutrition and exercise, while noting challenges in two critical areas:

  1. Deciding what and when to eat, managing portion sizes and timing meals
  2. Understanding how specific food items affect their blood glucose levels

These are the challenges that our portfolio company Sugarfit is trying to solve.

Sugarfit’s Personalized Diabetes Management Platform  

Sugarfit is a full-stack personalized digital platform that uses continuous glucose monitoring (CGM) for managing Type 2 diabetes, the form of the disease that typically develops over time due to lifestyle factors. Sugarfit has carefully designed its program in collaboration with doctors with years of endocrinology experience in India and across the globe.

Patients use Sugarfit to track the real-time impact of their lifestyles and diets on glucose levels and receive personalized guidance for fitness and nutrition. Sugarfit is available through an annual subscription package that includes:

  • A non-invasive CGM device;
  • Access to a nutritionist and doctor for periodic consultations; and
  • Live classes, as well as a video library of fitness sessions for diabetic adults.

Market Leadership in Diabetes Management

Since its founding in 2021, Sugarfit has emerged as a leader in diabetes management. With a product- and patient-first approach, the company has focused on driving the behavioral changes that result in improved healthcare outcomes. Currently, 90% of Sugarfit users with high blood glucose levels (Hba1c >9) experience a drop of ~20% in Hba1c levels within the first 90 days of enrolling and using the care program – which brings their diabetes level from severe to mild and manageable.

This early success in Type 2 diabetic adults has been studied and featured in publications by the American Diabetes Association, BMC (part of Springer Nature) and International Journal of Diabetes Technology (IJDT), among others.

Looking Forward

Leveraging its strong brand recognition, Sugarfit is focused on launching several new strategic initiatives.

First, Sugarfit has begun opening physical retail outlets, and currently operates a number of clinics across Bangalore. This allows patients to meet with doctors and nutritionists in person, which helps to build trust and improve outcomes. Second Sugarfit has launched its own digital commerce store for healthy, low-calorie foods to help diabetics tackle the issue of “deciding what to eat.

By providing a comprehensive suite of services, Sugarfit aspires to reverse Type-2 diabetes for individuals across India.

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