Healthcare SaaS Startup THB Raises $20 Mn Funding From Filter Capital, Edelweiss, Others

Healthcare SaaS startup THB (Technology l Healthcare l Big Data Analytics) has raised $20 Mn funding in a growth equity round led by Filter Capital and Edelweiss Discovery Fund Series – I.

The round also saw participation from Cornerstone Venture Partners Fund (CSVP) and HealthQuad, among others.

The startup will use the funds in expanding its operations globally and accelerating growth in existing countries across South Asia, Middle East and Southeast Asia. It is also looking at expanding its product portfolio and investing in growing global presence.

“Healthcare Big Data Technology presents an enormous opportunity for growth in this decade. THB aims to provide its customers with a comprehensive suite of data use-cases, enabling them to fully leverage their healthcare datasets and achieve tangible growth,” Akansh Khurana, MD and group CEO of THB said.

Founded in 2015 by Akash Khurana, Gagandeep Singh, Rohit Kumar and Rajesh Pachar, THB enables large healthcare enterprises to drive digital, data and technology adoption through its data management platform and a suite of software solutions. THB serves hospitals, pharmaceuticals, diagnostic labs, primary care, consumer health, payors, and med-tech companies across markets in emerging Asia including India, Bangladesh, Sri Lanka, UAE, KSA, Indonesia, Singapore, and Malaysia.

The startup announced its Series B fundraising from HealthQuad and Sealink Capital in 2021, without disclosing the investment amount. Back in 2018, THB raised $2.1 Mn (INR 14 Cr) funding from Blume Ventures and HealthQuad.

The latest fundraising comes at a time when the funding raised by Indian startups in April declined 66% year-on-year (YoY) to $888.45 Mn. The number of funding deals plummeted 60% YoY to 61 last month, according to Inc42 data.

However, from a stage-wise funding point of view, growth stage funding saw the lowest fall, declining to $586 Mn last month from $843 Mn in the year-ago month.

Tricog Health, Dozee, HealthPlix, are some of the healthtech startups which raised funds over the last couple of months. According to Inc42 data, India’s healthtech market is expected to reach a size of around $21 Bn by 2025.