Dubai-based wellness-focused insurtech platform Wellx has concluded a US$2 million seed funding round, which will be channeled toward expanding in the region and developing its technology infrastructure.
Led by Dubai Future District Fund, the seed round was participated by DASH Ventures, Annex Investments, 500 Global/Sanabil Investment, Plus VC, Aditum Investments, Loyal VC and Plug and Play Ventures as well as angel investors.
Co-founded by Vaibhav Kashyap, Javed Akberali and Dr Anushka Patchava in 2022, Wellx provides insurance services; notably, it embeds behavioral science and gamification direct to consumers, and through personalized rewards, incentivizes healthier habits and lifestyles.
The start-up will invest the funding in intuitive design and AI coaching as well as in hiring new talent.
“This $2 million investment will reinvigorate our brand as we continue work toward 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,” commented Javed Akberali, who is also the managing director of Wellx.
Wellx offers Islamic insurance products, the start-up confirmed with IFN Fintech.