Elfie, a digital therapeutics startup, is looking to raise US$4 million for its series A round.
The plan follows Elfie logging US$1 million in annual recurring revenue less than 12 months after its launch, the company said in Tech in Asia‘s fundraising startups list.
Photo credit: Elfie
Elfie’s platform that acts as a chronic disease management system, rewarding its users for self-monitoring their condition. The free app helps patients by making personalized health plans, among other services.
With every interaction on the app, the firm offers “Elfie coins,” which give users access to gift cards, discounts, as well as free products and services.
Founded in 2020 by Ofir Ejnes and Jean-Francois Legourd, Elfie said that its system has already been approved by multiple medical associations worldwide. Since its establishment, Elfie has expanded to Brazil and Vietnam.
Last year, the firm raised US$1 million in pre-seed funding from FEBE Ventures.
The healthtech market was valued at US$175.6 billion in 2021, and it is set to expand at a compound annual growth rate of 27.7%.
See also: An unknown Singapore healthtech firm’s dubious $583m valuation
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Editing by Miguel Cordon and Lorenzo Kyle Subido
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