Micromax invests in Bengaluru-based digital fitness company HealthifyMe

Micromax new logo

Micromax just announced that it has invested in HealthifyMe, one of the leading digital fitness providers in India. Based in Bengaluru, the company is focusing on mobile services to motivate people towards healthy behavior. This investment is part of Micromax’s vision of creating a mobile ecosystem that brings unique and innovative technologies from around the world to its consumers, said the company.

Micromax recently acquired minority stake in an analytics firm. At that time it said that it will be looking to invest in more start-ups and would provide between $0.5 million and $20 million to startups in exchange for 5% to 26% of the stake. The financial terms of the new investment has not been revealed.

Today the company said that it has set up an Mergers and acquisitions (M&A) team, headed by Kumar Shah, which has been actively sourcing and working with startups across major technology markets such as Silicon Valley, Europe, Israel and India to bring in the best products and capabilities.

Regarding the investment, Rahul Sharma, Co-Founder, Micromax, said:

The world is moving to smart devices and through these strategic investments we are ensuring that our consumers enjoy services that enrich their experience. We believe that India’s preventive healthcare needs transformational technologies. With our investment in HealthifyMe, we aim to create a technology platform to address the consumers’ wellness needs. We are very impressed with HealthifyMe’s team & product and look forward to working closely with them to build world class products for Micromax consumers.” He further added, “We want to invest in companies that are providing revolutionary solutions for our customers and give them scale and access to our ecosystem.

Tushar Vashisht, Co-Founder and CEO, HealthifyMe said,

We are on a mission to Healthify India and are excited to partner with Micromax looking at the possibilities they bring to the table. Together, we will help our customers eat better, get fitter and fight lifestyle issues effectively.

Author: Srivatsan Sridhar

Srivatsan Sridhar is a Mobile Technology Enthusiast who is passionate about Mobile phones and Mobile apps. He uses the phones he reviews as his main phone. You can follow him on Twitter and Instagram