It is targeting a CAGR of 14 per cent in the digital fitness & well-being apps segment over the next 5 years
Rewards based health tech platform hav., which has been operating in stealth mode has announced the launch of its operations formally. The company has raised $400,000 in a round led by US-based VC StartUp Health. The round also saw participation from other marquee angels
Funds raised will be used for growing the user base and achieving PMF. hav. is a free app that tracks various health parameters to help 20 to 40-year-olds middle income and below individuals to reduce the probability of lifestyle-related diseases.
Abdul Paravengal, Co-founder & CEO, hav. says, “Preventative care for masses in emerging countries clearly was a space with limited large players due to high CAC and perceived lack of monetisation route – a segment for which if well executed can lead to significant impact. We seem to be well positioned to deliver this with our unique insights, mission first and frugal approach.”
Unity Stoakes, Co-founder President, StartUp Health, says, “We believe that it’s not enough to invent a new, shiny solution that keeps people healthy if only a sliver of the world gets to benefit from it. Innovative health ideas are just the beginning. Getting them to the world, regardless of geography and economics, is just as crucial. For that reason, and many others, we’re proud to back Abdul Paravengal and his team at hav.”
The company aims to focus on expanding its base in the new markets where it will be launching operations and achieving unit level profitability in the next 12 months. It is targeting a CAGR of 14 per cent in the digital fitness & well-being apps segment over the next 5 years.