Alyve Health Bags INR 45 Cr From Axilor Ventures, Others To Expand Healthcare Offerings

Mumbai-based healthtech startup Alyve Health has raised INR 45 Cr, (around $5.5 Mn) in a Series A funding round led by Axilor Ventures, along with participation from existing investor 1Crowd Fund and Inhealth Ventures.

The company also claims to have raised debt from Trifecta Capital as part of this round.

Alyve Health plans to use the fresh capital for growth and development in several key areas such as, platform enhancement, talent acquisition, expansion of operations, amplification of services and increasing member engagement.

Founded in 2020 by Shashank Avadhani, Sushant Roy and Vineet Mehta, Alyve Health provides comprehensive health plans which cover doctor consultations, diagnostics, medicine purchases, dental procedures, gym memberships and proactive well-being. 

The startup’s platform integrates with payers, intermediaries, and providers to offer tailored solutions. It currently serves over 1 Mn customers.

Vineeth Mehta, cofounder and CTO at Alyve said, “This funding will enable us to further fortify our platform and enhance our data, security, and AI capabilities.”

The startup had previously raised $900k in a seed round from Axilor Ventures and 1Crowd Fund in April 2022. With this Series A infusion, Alyve Health will scale its operations. 

Recently Aarogya Tech raised INR 15 Cr (around $1.8 Mn), Neodocs raised INR 16.6 Cr and Daffodil Health raised INR 3.7 Cr.

The health tech industry in the country is thriving roughly at the rate of 28.67% each year over the 9-year period from 2024 to 2033, according to a report.