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UAE’s Wellx raises $2M Seed to expand its wellness-focused platform with embedded insurance

July 26, 2023

Co-created by Vaibhav Kashyap, Javed Akberali and Dr Anushka Patchava, Wellx brings embedded behavioural science and gamification direct to the consumer, and through personalised rewards, empowers and incentivises long-lasting sustainable habit formation, driving healthier lifestyles for its users.

This $2 million seed funding secured, when technology funding has been declining since the COVID-19 pandemic boom, will play a pivotal role in fuelling Wellx's growth trajectory, permitting it to continue orchestrating innovation in new technologies. By investing in intuitive design, and emerging tech including AI coaching, Wellx will strengthen its customer-centric approach, disrupting the insurance industry and providing seamless, personalized insurance experiences that deliver exceptional value to its customers.

Funding 💰

Round $2M
Seed
Lead investor(s) Dubai Future District Fund (DFDF)
Also participating DASH Ventures, Annex Investments, Sanabil 500 MENA Seed Accelerator, Plus VC, Aditum Investments, Loyal VC, Plug and Play

Quotes 💬

“
We are thrilled to have the opportunity to work in this sector and through our intense focus on customer-centric design, change the way customers experience insurance - from a grudge to a great purchase! This funding empowers us to accelerate our growth plans and expand our global customer base.
— Vaibhav Kashyap, co-founder and CEO of Wellx
“
This $2 million investment will reinvigorate our brand as we continue to work towards spearheading the adoption of healthier habits in alignment with the UAE's National Strategy for Wellbeing 2031. We are fully charged to take on the market, and excited to expand our product lines and services.
— Javed Akberali, Co-Founder and Managing Director of Wellx
“
With this significant seed funding, we can accelerate the development of new functionality, and innovative experiences for our customers and to do so we need to bring on board great people, with greater capabilities to do even greater things. The investment will fuel our relentless pursuit of making healthy fun and health hassle-free.
— Dr. Anushka Patchava, Co-Founder and Chief Product Officer

About 🏢

Wellx is an insur-tech company that has developed a wellness-focused platform with embedded medical insurance. As such, it molds the way forward for insurers, bringing in a new dimension to underwriting and pricing. It brings embedded behavioral science and gamification direct to the consumer and, through personalized rewards - empowers and incentivizes long-lasting sustainable habit formation, driving healthier lifestyles for its users. Wellx is measuring users' activities with smart bands and watches, provided by its partners WHOOP and Fitbit. more
source

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