Following in the footsteps of ecommerce and fintech startups, healthtech is another sector where the Indian tech startups have been successful in attracting huge investments. After Healthifyme recently raised $12 Mn in Series B funding from global investors, another healthtech startup HealthAssure has raised $ 1 Mn in a Pre-Series A round of funding led by The HR Fund.
Commenting on the funding, Varun Gera, Founder & CEO, HealthAssure, stated, “This fundraise will help us continue effectively on the mission to repair the fractured infrastructure of Indian primary healthcare”.
The company had recently announced its plans to invest $15 Mn in order to strengthen their already extensive primary care network and product capabilities. The company will use the funds to further develop new consumer products in primary healthcare, digitising the ecosystem, and building extensive distribution.
Utkarsh Joshi, CEO & Partner, The HR Fund said, “ HealthAssure is focused on health as a workplace value and this aligns perfectly with our mission to transform the Workforce. Currently, good health has become one of the top most priorities for corporate India, making this a timely and key investment for us.”
Founded seven years ago, the Mumbai-based HealthAssure is a healthtech startup that functions as an aggregator of primary care services for corporates and individuals and helps bring day-to-day care closer to individuals.
The startup claims to have been working with several firms in the insurance/corporate segments which includes Apollo Munich, Max Bupa, Cigna, ICICI Prudential, Royal Sundram, Loreal, FedEx, Deloitte, Max Life Insurance among many others.
Amalgamating AI, deeptech and IoT, healthtech startups have attracted huge funding and technology upgradation which is much required in the healthcare ecosystem of India. As per Inc42 Data Labs Funding Report 2017, healthtech witnessed 111 deals in 2017, making it the second most funded segment of 2017.
Facilitated by a Mumbai based Investment banking and advisory services firm Candle Advisors, the latest funding from the HR fund will help HealthAssure gain a stronghold not only in India, but also in other countries across South and Southeast Asia.