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Droobi Health, a leading digital diabetes player in the Middle East from Qatar, and Smit.fit, a frontrunner in India's digital health landscape, have merged to form DroobiSmit, with its headquarters in Singapore.
This strategic move positions DroobiSmit as the premier digital diabetes solution provider across the GCC and South Asia regions, with support from key investors, including Qatar’s premier hub and international destination for technology development, innovation, and entrepreneurship, Qatar Science & Technology Park (QSTP), Qatar Development Bank (QDB), and Singapore’s M Venture Partners (MVP).
In both regions, diabetes rates are among the highest globally, with numbers rising rapidly. Currently, out of the 260mn people diagnosed with either diabetes or prediabetes, 163mn have confirmed diabetes cases.
By 2030, this number is expected to reach 320mn, with diabetes cases accounting for 208mn.
With a mission to transform the lives of those battling chronic diseases, DroobiSmit leverages digital health services to enhance health, manage chronic conditions, and reduce care costs. Their offerings cater to prediabetes, diabetes, and hypertension, leveraging modern technology, personalized coaching, and data-driven insights.
Since their inception, Droobi and Smit.fit have positively impacted about 40,000 users. Independent research highlights the effectiveness of the services, showcasing user improvements in key health metrics such as blood pressure, weight, cholesterol, and the levels of HbA1c – a blood test that is used to diagnose type 2 diabetes.
With an investment backing of approximately $5mn to date, DroobiSmit has garnered support from notable entities, including QSTP, QDB, Barzan Holding, Doha Tech Angels, MVP, and a syndicate of nearly 20 reputed angel investors.
QSTP, QDB, and MVP were key investors during Droobi Health’s and Smit.fit's seed stage, providing steadfast support throughout the merger process and facilitating its successful execution. The organisations continue to finance the newly established entity and its expansion efforts.
QSTP has supported Droobi Health through its Tech Venture Fund (TVF) – a strategic venture capital fund designed to support local innovative startups and attract international startups to scale in the MENA region.
Danny Ramadan, investment director, QSTP, commented: “Droobi Health’s merger with Smit.fit is a testament to the impact of Qatar’s thriving innovation ecosystem. It showcases international trust and value in homegrown technologies with the potential to drive regional and global impact.
It also demonstrates the importance of what can be achieved when aspiring tech start-ups are provided with the essential resources, critical funding, and a conducive environment to grow and develop their offerings.”
Droobi Health was founded by Abdulla al-Misnad, an alumnus of Stanford and Massachusetts Institute of Technology (MIT) who was an early entrepreneur in the Qatari innovation ecosystem, while Smit.fit was founded and led by Sujit Chakrabarty, formerly a partner and leader of McKinsey's Digital and Technology Practice in India.
Chakrabarty will lead DroobiSmit, and Dr Hessa al-Jaber, former Minister of Telecommunications in Qatar, will be a valuable member of the company’s Board. The organisation is further strengthened by a highly skilled team of approximately 60 dedicated professionals.
DroobiSmit is expanding globally and driving healthcare innovation. Establishing a new office in Saudi Arabia marks a significant milestone and highlights opportunities in South Asia and the Middle East. The newly merged entity will expand its market share by leveraging AI, including predictive health, advanced monitoring, and personalized interventions integrated with digital twin technology. In doing so it will scale its provision of individualized healthcare solutions, emphasizing its dedication to diabetes reversal and transformative health journeys.
Chakrabarty said: “The company adopts a B2B2C growth strategy and has collaborated with over 25 leading healthcare players across the GCC and India, encompassing top-tier hospitals, clinic chains, insurance companies, and employers. We are actively exploring avenues to introduce our unique model to emerging markets, notably Saudi Arabia.”
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).This strategic move positions DroobiSmit as the premier digital diabetes solution provider across the GCC and South Asia regions, with support from key investors, including Qatar’s premier hub and international destination for technology development, innovation, and entrepreneurship, Qatar Science & Technology Park (QSTP), Qatar Development Bank (QDB), and Singapore’s M Venture Partners (MVP).
In both regions, diabetes rates are among the highest globally, with numbers rising rapidly. Currently, out of the 260mn people diagnosed with either diabetes or prediabetes, 163mn have confirmed diabetes cases.
By 2030, this number is expected to reach 320mn, with diabetes cases accounting for 208mn.
With a mission to transform the lives of those battling chronic diseases, DroobiSmit leverages digital health services to enhance health, manage chronic conditions, and reduce care costs. Their offerings cater to prediabetes, diabetes, and hypertension, leveraging modern technology, personalized coaching, and data-driven insights.
Since their inception, Droobi and Smit.fit have positively impacted about 40,000 users. Independent research highlights the effectiveness of the services, showcasing user improvements in key health metrics such as blood pressure, weight, cholesterol, and the levels of HbA1c – a blood test that is used to diagnose type 2 diabetes.
With an investment backing of approximately $5mn to date, DroobiSmit has garnered support from notable entities, including QSTP, QDB, Barzan Holding, Doha Tech Angels, MVP, and a syndicate of nearly 20 reputed angel investors.
QSTP, QDB, and MVP were key investors during Droobi Health’s and Smit.fit's seed stage, providing steadfast support throughout the merger process and facilitating its successful execution. The organisations continue to finance the newly established entity and its expansion efforts.
QSTP has supported Droobi Health through its Tech Venture Fund (TVF) – a strategic venture capital fund designed to support local innovative startups and attract international startups to scale in the MENA region.
Danny Ramadan, investment director, QSTP, commented: “Droobi Health’s merger with Smit.fit is a testament to the impact of Qatar’s thriving innovation ecosystem. It showcases international trust and value in homegrown technologies with the potential to drive regional and global impact.
It also demonstrates the importance of what can be achieved when aspiring tech start-ups are provided with the essential resources, critical funding, and a conducive environment to grow and develop their offerings.”
Droobi Health was founded by Abdulla al-Misnad, an alumnus of Stanford and Massachusetts Institute of Technology (MIT) who was an early entrepreneur in the Qatari innovation ecosystem, while Smit.fit was founded and led by Sujit Chakrabarty, formerly a partner and leader of McKinsey's Digital and Technology Practice in India.
Chakrabarty will lead DroobiSmit, and Dr Hessa al-Jaber, former Minister of Telecommunications in Qatar, will be a valuable member of the company’s Board. The organisation is further strengthened by a highly skilled team of approximately 60 dedicated professionals.
DroobiSmit is expanding globally and driving healthcare innovation. Establishing a new office in Saudi Arabia marks a significant milestone and highlights opportunities in South Asia and the Middle East. The newly merged entity will expand its market share by leveraging AI, including predictive health, advanced monitoring, and personalized interventions integrated with digital twin technology. In doing so it will scale its provision of individualized healthcare solutions, emphasizing its dedication to diabetes reversal and transformative health journeys.
Chakrabarty said: “The company adopts a B2B2C growth strategy and has collaborated with over 25 leading healthcare players across the GCC and India, encompassing top-tier hospitals, clinic chains, insurance companies, and employers. We are actively exploring avenues to introduce our unique model to emerging markets, notably Saudi Arabia.”