Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by FindMyHealth.
Artificial Intelligence is now penetrating almost every existing domain. Finance, healthcare, education, transportation and many sectors are witnessing active use of AI. The idea of this startup was born when Gaurav Bhalotia realized there is a lot to health beyond medicine, and that our bodies need to participate very strongly to recover from any illness. Gaurav thus started FindMyHealth in 2018 with a vision to give individuals control of their health, and to help them stay healthy and recover quickly.
However, the seeds of the current product was sowed in April 2019 after the successful Proof of Concept (POC) of its computer vision technology. The platform allows users to get a peek into their inner health based on an Ayurvedic framework. It starts by analyzing the face to identify the body constitution and visual aging or obesity, which is followed by a conversation with its AI doctor to identify the state of the inner health.
Read this article to know more about the Journey of FindMyHealth along with its Business Model, How it works, Funding, Growth, Competitors & More.
FindMyHealth - Company Highlights
| Startup Name | FindMyHealth |
|---|---|
| Headquarter | Bengaluru, India |
| Sector | Healthcare Technology |
| Founder | Gaurav Bhalotia |
| Founded | 2018 |
| Parent Organization | MillionEyes Healthcare Technologies Private Ltd. |
| Website | findmyhealth.com |
FindMyHealth - About & How It Works?
FindMyHealth - Target Market Size
FindMyHealth - Products/Services
FindMyHealth - Founders & Team
FindMyHealth - Name, Tagline & Logo
FindMyHealth - Business & Revenue Model
FindMyHealth - User Acquisition & Growth
FindMyHealth - Startup Challenges
FindMyHealth - Competitors
FindMyHealth - Funding & Investors
FindMyHealth - Recognition & Achievements
FindMyHealth - Future Plans
FindMyHealth - Conclusion
FindMyHealth - FAQ's
FindMyHealth - About & How It Works?
The inspiration behind this idea is Gaurav’s health experiences (self and family) where he moved from being a skeptic towards alternative medicine to becoming a believer in the body’s power and participation in recovery. There is a lot of subjectivity in both discovery and assessment in the alternative medicine space today.
The journey started with an attempt to use technology to bring the power of Ayurveda and alternative medicine to more people. The biggest gap which Gaurav saw to start with was helping people identify what herbs to take, many people were consuming Ayurvedic herbs but most of it through ad-hoc recommendations from friends and family.
Over the last one year we have managed to use the knowledge from Ayurveda to build a framework for remote assessment, AI-driven recommendations, and doorstep delivery of Herbal Supplements, says Gaurav Bhalotia, founder of FindMyHealth.
FindMyHealth - Target Market Size
The healthcare market in India is expected to reach US$ 372 billion by 2022, driven by rising incomes, greater healthcare awareness, lifestyle diseases, and increasing access to insurance. We are combining AI and Ayurveda to build these solutions. Ayurveda market in India is expected to be around $9 billion by 2022.
There will be 130 million Health Conscious Individuals (HCIs) by 2022. Increasingly people will seek out more control over their health, as is showing up in fitness products today. There will be a demand for solutions that connect our everyday actions to health outcomes. E.g. what we eat, our lifestyles, etc. So essentially coupled with awareness, we will see greater participation in staying healthier.
FindMyHealth - Products/Services
FindMyHealth (website), the company's first offering allows users to get a peek into their inner health, based on an Ayurvedic framework of what health is. It starts with a face selfie analysis to identify the body constitution and visual aging/obesity, which is followed up by a conversation with their AI doctor to identify the state of the inner functional health.
This together is used to generate a detailed health fingerprint of the user and identify recommendations for herbs, foods, and a healthy lifestyle. They also offer a personalized supplement, which compounds all the recommended herbs into a single pill for supporting health and recovery.
FindMyHealth - Founders & Team
FindMyHealth is founded by Gaurav Bhalotia.
The founder, Gaurav Bhalotia, is an expert in information retrieval, personalization and building large scale systems. He is passionate about holistic health and traditional Indian Health Sciences and Medicine. FindMyHealth, a preventive healthcare platform (startup), grew out of his belief that everybody deserves a healthy lifestyle and that it is viable to take control of our own health through personalization and AI.
He likes to address his startup as a scorecard for one's inner health and their personalized supplement buddy. Gaurav is a graduate of Indian Institute of Technology - Mumbai - and has an MS in Computer Science from the University of California Berkeley.
On the core team, Dr. Payal Khandelwal is the resident Ayurveda expert. She has an MD in Ayurveda from Tilak Ayurveda Institute and is an Expert at treating lifestyle and chronic diseases. She won the National Herbal Research Award in 2010. The team currently is made up of engineers, data scientists, doctors and nutrition experts.
FindMyHealth - Name, Tagline & Logo
The team felt that the biggest problem that people have in healthcare is a lack of control. Health is so much of a personal thing. One has to be aware of one’s body and health work daily to maintain it. The company wanted to build something that gives people control of their health and helps them identify, interpret, and work with their inner balance. Hence, the name FindMyHealth (help find where the balance is and then help find a fix).
FindMyHealth - Business & Revenue Model
The FindMyHealth business model works on a freemium model, the assessment is free (so is the identification of the right herbs). They intend to monetize the personalized supplement that is custom-built for the user. They will also have personalized diet plans very soon. Right now, the company has two paid offerings on the website - personalized Ayurvedic herb mix for INR 999 and therapeutic (disease reversal diet plans) for INR 6,999.
FindMyHealth - User Acquisition & Growth
What has worked for FindMyHealth is the selfie analysis, people find it unique and it enables high click-through rates and reasonable acquisition costs. While the selfie brings users, their deep insights into inner health help keep them. According to the company, more than 60% of the users are going through completing the entire assessment, sometimes spending up to 10 minutes on it, which is a lot in terms of internet time.
The company has tied up with Hyderabad based Healtheeliving to provide them the technology platform for their therapeutic nutrition plans. One of the campaigns that went almost viral is their Corona Risk Calculator. They started seeing a lot of people share it on Facebook and WhatsApp and a significant proportion of traffic coming through these shares.
Chayanika Goswami
FindMyHealth - Startup Challenges
The biggest challenge has been the marriage of technology and medicine, to get Ayurvedic doctors and nutrition experts and engineers/data scientists to think and work on a common plane. FindMyHealth has built a very strong culture of data-based science, high ownership, and building for scale.
The next challenge has been creating awareness and sometimes a strong positive awareness of Ayurveda. A lot of people are exposed to Ayurvedic medicines and treatments but in a very ad-hoc manner, the startup wishes to make it easy and accurate to access and consume Ayurveda.
FindMyHealth - Competitors
There are other players in the space like 1balance delivering personalized supplements, and Jiva Ayurveda, Dr. Vaidya’s, Cureveda, Organic India, etc., trying to create a new-age brand for Ayurvedic supplements. On assessments, there are players like NadiTarangini and Ayurythm building technologies for Ayurvedic assessments of Individuals.
Personalization is the distinctive benefit of their AI, enabling them to identify the unique health situation of an individual and connect them to appropriate targeted actions drawn from the wisdom of Ayurveda and other natural techniques. An additional strong aspect of the company's technology is that it can be done in a non-invasive manner and remotely on the app.
FindMyHealth strongly admires CureFit which has been able to create an aspirational brand around health and fitness. They would like to similarly create a great brand that will help individuals take control of their inner health and use the platform for regular assessment, recommendations, and supplement needs.
Shubham Kumar
FindMyHealth - Funding & Investors
The company closed an angel round in July last year for an undisclosed amount. The team is focusing on fine-tuning the technology and monetization model before raising additional funds.
FindMyHealth - Recognition & Achievements
The company received the most promising healthtech startup of 2020 award by CIOReview India.
FindMyHealth - Future Plans
Having just launched, the company is nearing 20,000 completed assessments on the platform. Their target Market currently is India and they want to be the platform for personalized Ayurveda - starting from deep assessment to technology products that support individuals' journeys back to balance and good health.
"We are working on personalized diet plans driven off our AI, that will be Ayurveda compliant. Diet is a significant part of who we are and diet corrections can have a huge impact on healing and recovery", says Gaurav Bhalotia, owner of FindMyHealth.
FindMyHealth - Conclusion
Findmyhealth are on a mission to revolutionize healthcare delivery to individuals. They are a team of technologists, data scientists and Ayurveda experts. They combine modern technology and trusted science of Ayurveda to give users the tools to take control of their everyday health. Findmyhealth patented AI based selfie analysis and health score identifies the unique constitutional balance of an individual. They then offer users the ability to design their own personalized Ayurvedic herb mix for overall health and wellbeing.
FindMyHealth - FAQ's
How are our products differ from other nutritional supplements?
Nutritional supplements are used to cover for deficiencies of the essential nutrition that a person is not able to get from food. Ayurvedic herbs on the other hand have rejuvenated property, helping restore the body's balance towards equilibrium.
Will there be any side effects? Are these safe to be taken daily?
The products are 100% natural and have been time tested to have no unintended side effects. The herbs have no chemical ingredients and are designed to be taken twice daily. Regular and continuous use is necessary to induce the body’s recovery towards the natural balance.
How long will I have to take these supplements?
One can start seeing improvements in one month, however, findmyhealth recommends that you take them for a minimum of three months. If you take a three-month subscription, they will recommend you to retake the online assessment every month.
Can I take other medicine with FindMyhealth?
Yes, you can continue taking your regular medicine along with FindMyhealth supplements. Findmyhealth doctors do not recommend stopping or modifying the dosage of your current medication without consulting a doctor.
Do I need to consult a doctor before consuming them?
Findmyhealth system has been designed by experts in both Ayurveda and Computer Science and these recommendations have gone through thorough testing. In addition, every recommendation is individually reviewed by the doctors before getting shipped.
How do I contact Findmyhealth?
For any other questions, you may have, please write to contact@findmyhealth.com
Author: Rishabh Rathi
Source : https://startuptalky.com/findmyhealth-success-story/
Date : 2021-05-17T07:30:00.000Z