Early backers including Micromax Informatics are receiving 15-times returns on their investment in the health management app developer.

Mobile device maker Micromax Informatics is selling stock in India-based wellness management app developer HealthifyMe through a $12m share repurchasing plan, the Economic Times reported today.

Early investors including Micromax and Gopal Srinivasan will get up to 15-times returns in the deal, which will allow nearly 100 of HealthifyMe’s current and previous employees to receive liquidity, according to company CEO Tushar Vashisht.

Incubated by software provider Microsoft’s Accelerator, HealthifyMe runs an artificial intelligence-infused health and fitness app that is equipped…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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