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Alfie Raises $2.1M for AI-Powered Virtual Health Platform for Sustained Weight Loss – AlleyWatch

42% of Americans suffer from obesity. All states in the Union have at least 20% obesity rates in their populations. The costs of obesity-related chronic diseases such as heart disease, diabetes, stroke and certain types of cancer are estimated to exceed $1.76 trillion annually. Alfie is a virtual weight management platform that blends AI, telemedicine and behavior change to drive sustainable weight loss. This platform takes a holistic approach to develop initial treatment protocols based on robust metabolic profiles to understand why patients gain and maintain weight. With this assessment, his Alfie’s ObesityRx system, a clinical decision support tool, leverages his AI to develop a combination of precision medicine and behavior modification. A cohort of 300 patients lost an average of 10-15% of their body weight over 9 months using Alfie. These results are comparable to those using fad injection drugs such as the GLP-1 (glucagon-like peptide-1)-based Ozempic.

alley watch We spoke with CEO Alfie Alexander Shin To learn more about the business, the company’s strategic plans, recent funding rounds, and more…

Who are the investors and how much did you raise?
We led and raised $2.1 million Nina Capital and Y Combinatorwith participation from Goodwater, Phoenix FoundationAngels, including one of the founders of Opentrons.

What products or services does Alfie offer?
Alfie Health is a virtual obesity management clinic that uses proprietary AI clinical decision support technology to recommend a combination of precision medicine and behavior modification to help patients lose weight sustainably . Alfie provides ongoing medical supervision and support through regular telemedicine visits.
Developed with input from obesity experts at Mass General and the Cleveland Clinic, the unique ObesityRx™ system leverages AI to run a patient’s metabolic profile to understand why they are gaining and maintaining weight. I understand. The system makes precision medicine recommendations (GLP-1 is often not the primary treatment) and suggestions for behavioral changes. Alfle’s team of experts and coaches provide ongoing telemedicine support. All recommended treatments are reviewed by Alfie’s medical team.

What inspired you to start Alfie?
my co-founder Rohit Rustagi I met him through my undergraduate thesis. Dr. Hassan SaidOur third co-founder, he was our dissertation advisor and has always been passionate about applying scalable technology to medicine.
During the pandemic, I was working at the FDA and started looking at new anti-obesity drug options. I was intrigued by the data on these drugs, and he reunited with Rohit, who was on his way to Stanford Medical School at the time. As the third co-founder, we’ve seen the effects of obesity first-hand (both personally and in families). Hasan Seed He was a surgeon and was aware of the risks of obesity and how it could lead to debilitating illness. It also avoids life-changing procedures, as they increase the risk of complications. )

How are you different from Alfie?
Alfie uses technology to determine the right treatment at the right time for each patient.
ObesityRx, our clinical decision support system, leverages advanced AI algorithms to review patient histories. laboratory data. Vital information via remote monitoring and patient-reported results (PRO) that addresses satiety, satiety, and other aspects of metabolism and determines a patient’s individualized metabolic profile.
The platform then recommends an initial treatment for each patient based on each patient’s unique metabolic profile. Analyzes include GLP-1 plus lifestyle changes (nutrition, exercise, sleep, etc.) and drugs alone or in combination such as phentermine, topiramate, naltrexone, bupropion, and metformin as needed.
An internal cohort of 300 patients showed an average weight loss of 10-15 percent by following Alfie Health’s holistic approach, similar to the GLP-1 results.

What markets is Alfie targeting and how big is it?
We focus on more severely obese (BMI >35) patients, who often also have multiple other chronic conditions. This alone creates a $156 billion market opportunity for him in the US.

What is your business model?
We work with our channel partners to support patients who may not have access to obesity treatment or who are receiving inappropriate advice to manage their obesity.
We are currently working with large cardiology groups to manage weight loss for many obese patients, as well as large corporate clients who refer appropriate patients to Alfie.

How are you preparing for a potential economic slowdown?
We focus on building a strong pipeline with our channel partners, aiming for profitability as soon as possible, and minimizing unnecessary spend.

What was the fundraising process like?
While the funding environment is definitely slowing, many investors see obesity management as a hot topic and form early on what the potential winners in this space are and are not. ing. This is a huge tailwind for iterating on products and building scalable obesity management.

What was the biggest challenge you faced while fundraising?
The biggest challenge we faced was keeping our heads up when our investors said no. It took a mindset shift to really think of it as “not now.” “No” doesn’t mean “no” forever. This allowed us to keep investor feedback in mind while iterating on product development in the background.

What factors about your business made investors write checks?
At this stage, I think investors were mostly motivated by our team. Regardless of the strengths of our team across AI and healthcare and our background from top institutions, our focus is on a long-term strategy to grow this business and our ability to adapt to the market and pivot at any time. I was able to show investors something. where you need it.
In addition, our two biggest differentiators are our technology-driven approach and business model. How we apply AI technology to help clinics and other medical institutions treat obese patients has helped convince investors that we have a valuable and scalable technology. .

What milestones do you plan to achieve in the next six months?
Over the next six months, we will continue to focus on expanding our channel partnerships with clinics and other healthcare organizations.

What advice would you give to New York companies that haven’t recapitalized their banks?
Communication network. Communication network. Communication network. The greatest progress we’ve made so far comes from the advice of other founders, medical leaders and advisors. Investors who have not invested in Alfie also provide important referrals and support to the company.You can make a great product, but often customers no come. Leveraging and growing your network will help create continued success.

Where do you see the company going in the short term?
In the short term, as I mentioned earlier, we will continue to focus more on expanding our partnerships. The company has proven to early partners that it has created a scalable, technology-driven, and holistic approach to successfully managing obesity in patients, and will build on these results to grow.

What are your favorite summer destinations in and around the city?
In my spare time, I like to go surfing at Rockaway Beach.

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