New Delhi-based healthtech startup Crysta has raised INR 10 Cr ($1.4 Mn) Pre-Series A funding round led by the family office of Ruchirans and Anuraag Jaipuria. Mumbai-based Green Shots Capital and Alfa Ventures, Delhi-based Real Time Ventures and NGB Diagnostics, Dubai-based Petrotech, Steel City Securities and a clutch of angel investors also participated in the funding round.
The investment will help Crysta in scaling up operations to other cities in India. Crysta, which is a part of Delhi-based Redcliffe Life Sciences, will also invest in increasing market reach and technological capabilities. Speaking about the investment, Dheeraj Jain, founder of Redcliffe Life Sciences, said that the funding will help the company in building an end-to-end reproductive health platform covering all relevant aspects of pregnancy and fertility care.
Founded in 2018, the startup offers various diagnostic and screening services. It also offers regular counselling and clinical data management services. Crysta claims that it is gradually scaling up across all aspects of mother and child health care.
After this funding round, Jain said that the company is also preparing for the $10 Mn Series A round for a much larger expansion in the mother and child segment. “Our scientific team works with all major hospitals and research institutes for long-term collaboration,” Jain added.
In the last two years, Redcliffe Life Sciences has also diversified its focus areas to include rare disorders, oncology, and clinical gene sequencing. The startup claims that it has processed over 5000 samples within its first year of operations.
Healthtech startups have been witnessing an influx of funding recently. While Meddo raised $3 Mn in Pre-Series A funding round in September 2019, Indian Angel Network (IAN) invested in Hyderabad-based healthtech startup PlusPin in the same month. NestaVera Group of companies also pumped funds into Bengaluru-based healthtech startup ProPhysio.
According to Datalabs by Inc42, there are a total of 4,892 startups in the Indian healthtech space. It also estimates that the total market size of the healthcare industry in India stood at $202 Bn in 2019. Datalabs by Inc42 also noted that healthtech startups had raised $1.9 Bn across 405 deals between 2014-H1 2019.