Elevate Now Secures Pre-Seed Funding Led By W Health Ventures

W Health Ventures, a healthcare focused VC that invests in and grows tech-enabled early-stage healthcare companies, has led a pre-seed funding round in Elevate Now, India’s first medical weight loss company. 

How The Funding Will Help Elevate Now?

The funding will help Elevate Now to expand its operations and deliver innovative weight loss solutions to more individuals across India. The company offers tailored and doctor-led medication-based weight loss programs, personalized health coaching, and habit coaching that aligns with clinical protocols designed for the Indian population. 

Focused on an omnichannel distribution strategy from the get-go, the company has already launched its first co-branded obesity clinic in Aurangabad, with the next set of clinics planned in Bangalore and Delhi. With this financing, Elevate Now plans to establish more offline partnerships to accelerate its nationwide expansion, aiming to set up over 10 clinics throughout India in 2023. 

By leveraging its innovative doctor-led approach to weight loss, Elevate Now is transforming the industry and empowering millions of individuals to achieve a healthier lifestyle.

Obesity is a major health concern in India, with approximately one in four Indians, i.e., ~340M Indians being overweight or obese. Rapidly changing and increasingly sedentary lifestyle, and genetic predisposition of Asians are adding to this burden at a faster pace. This unfortunate trend has dire consequences on life expectancy (~2M people die of reasons directly linked to obesity, more than heart attack related deaths), workforce productivity (~60% of workforce is estimated to be overweight) and quality of life (~70% obese patients have some form of mental health issues). Despite numerous weight loss solutions flooding the market, the problem remains largely unsolved, leading to massive customer frustration.

This is where Elevate Now comes in. It aims to revolutionize the weight loss industry in India with its doctor-led, medication-based weight loss program that combines medicines with personalized health and habit coaching. 

The company's approach is backed by advancements in science and clinical protocols tailored for Indians, making it a unique solution for the Indian market. These are the first protocols being created and documented for Indians by leading obesity specialists. Elevate Now doctors prescribe the right weight loss medicine ranging from INR 100 to INR 10k per month based on severity of condition, comorbidities, and affordability.  The company has an active clinical advisory board led by India's leading obesity specialists.

“We are thrilled to join forces with Elevate Now as they embark on their mission to fundamentally revolutionize the weight loss industry in India," said Pankaj Jethwani, Executive VP, W Health Ventures. 

"The weight loss market in India is massive with over $12B spent annually. Traditional weight loss solutions don’t work as a large majority (90-95%) gain the weight back in a few months. Elevate Now’s innovative approach, backed by advancements in science and clinical protocols tailored to Indians, presents a unique opportunity to transform the way India understands and treats weight-loss. We were impressed by the passionate founders' track record in scaling successful technology brands in India during their prior stints at Ola and Swiggy, respectively. Their expertise in building and scaling consumer businesses in India is best in class, and we are confident in their ability to successfully execute their nationwide expansion plan."

"Weight Loss is one of the most attempted sectors within healthcare in India but the solutions currently available are not leveraging the latest scientific advancements in the understanding of how weight gain and loss happens. Our unique approach with tailored clinical protocols supported by cutting-edge science, presents a significant opportunity to address a major health concern in India and positively impact the lives of millions of people” said Rahul Maroli, Co-founder and CEO, Elevate Now.

He further added, “We have treated over 300 patients via our easy-to-use and doctor-led program and every single patient has lost weight. By expanding our footprint across the country and partnering with leading healthcare providers, we aim to make a meaningful impact on life expectancy, workforce productivity, and quality of life for the Indian population. With Elevate Now, India’s first medical weight loss company, we’re redefining how our country loses weight sustainably."

(Disclaimer: TICE news did not write this content. It is based on a press release sent by the company or the organisation.)