- Qatar’s Droobi Health and India’s Smit.fit merge to form DroobiSmit, headquartered in Singapore.
- DroobiSmit focuses on digital health solutions for diabetes, prediabetes, and hypertension in the GCC and South Asia.
- With a $5 million investment, DroobiSmit expands globally, establishing a presence in Saudi Arabia and pursuing a B2B2C growth strategy in collaboration with over 25 healthcare entities.
Doha, Qatar, 10 January, 2024:
Droobi Health, a prominent digital diabetes player based in Qatar, and Smit.fit, a leading figure in India’s digital health landscape, have merged to create DroobiSmit, headquartered in Singapore. This strategic move positions DroobiSmit as the premier digital diabetes solution provider across the GCC and South Asia, supported by key investors including 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 260 million people diagnosed with either diabetes or prediabetes, 163 million have confirmed diabetes cases. By 2030, this number is expected to reach 320 million, with diabetes cases accounting for 208 million.
DroobiSmit aims to transform the lives of those battling chronic diseases by leveraging digital health services to enhance health, manage chronic conditions, and reduce care costs. Their offerings cater to prediabetes, diabetes, and hypertension, utilizing 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 HbA1c levels – a blood test used to diagnose type 2 diabetes.
With an investment backing of approximately USD 5 million, 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 organizations 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 at QSTP, emphasized the significance of Droobi Health’s merger with Smit.fit, stating that it underscores the influence of Qatar’s vibrant innovation ecosystem. The merger reflects global confidence in locally developed technologies that can substantially impact both regional and global levels. Ramadan also highlighted the pivotal role of essential resources, critical funding, and a supportive environment in fostering the growth and development of aspiring tech start-ups. The successful collaboration between Droobi Health and Smit.fit is a tangible example of the positive outcomes achievable under these conditions.
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 organization 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 stated that the company is pursuing a B2B2C growth strategy. They have formed collaborations with more than 25 prominent healthcare entities in the GCC and India. These include top-tier hospitals, clinic chains, insurance companies, and employers. The company is currently exploring opportunities to introduce its unique model to emerging markets, with a particular focus on Saudi Arabia.
QSTP is a member of the Qatar Foundation. To know more about QSTP’s Tech Venture Fund, please visit: https://qstp.org.qa/tech-venture-fund/
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Last Updated on January 31, 2024 by Safiya K
