Samsung has recently been showing off its smart health apps on the new Galaxy S5 flagship device, with chic new add-ons like Galaxy Fit, urging Europeans to get moving. However, when it comes to gauging the food we stuff our stomachs with, it’s the Lifesum (formerly ShapeUpClub) that will claim the leadership position on the continent in the very near future.
The Stockholm-based company has grown tremendously across Europe since its foundations in 2008, reaching more than 4 million registered users so far and over 500,000 active users a month, press release announcing the closure of the first external funding round. It has earned a valuable Series A funding of $6.7 million yesterday from the German media giant, Bauer Media Group, and SparkLabs Global Ventures.
Germany is currently the biggest market for Lifesum, if we take Scandinavian countries separately. Austria and Switzerland follow these two in terms of usage rates. With the help of the money and networking opportunities the will come from multinational Bauer, the Swedish startup can now aim to expand internationally, making Germany the gateway to a global mobile health market, estimated to have totalled $6.3 billion in revenue last year and to reach $20.6 billion by 2018, according to MarketsandMarkets.
Lifesum is a health and fitness app that lets users track their approximate food and calorie intakes, as well as lifestyle data as they progress towards a healthier lifestyle and better waistline. The app has the ability to scan the barcodes of food items and add the info to intake data if the item is pre-stored in the app. It also suggests exercises to burn the calories taken in with that item. It’s pretty compelling to go global, especially when you consider Scandinavians are pretty behind the Americans and the Germans in terms of calorie-rich fast food, burgers and frankfurters.
Henrik Torstensson, CEO of Lifesum, said in a statement that the partnership will help the company to create a truly global product and brand, with more detailed insight and personalised guidance based on personal data — encouraging the adoption of positive habits and long-term behavioural change.
Hamburg-based Bauer publishes more than 600 magazines including InTouch, Cosmopolitan and Shape. SparkLabs is a new seed-stage investment fund.