Health – Scoopearth : Startup Story | Startup News | Trending Business News | Latest Tech News https://www.scoopearth.com Embrace the World of Start-ups, Technology, Business, Finance and Economy Mon, 30 Dec 2024 16:42:51 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://www.scoopearth.com/wp-content/uploads/2023/11/cropped-favicon-sc-32x32.png Health – Scoopearth : Startup Story | Startup News | Trending Business News | Latest Tech News https://www.scoopearth.com 32 32 Healthcare startup Pristyn Care crossed Rs 601 crore in revenue with a loss of Rs 381 crore in FY24 https://www.scoopearth.com/healthcare-startup-pristyn-care-crossed-rs-601-crore-in-revenue-with-a-loss-of-rs-381-crore-in-fy24/ Mon, 30 Dec 2024 12:26:00 +0000 https://www.scoopearth.com/?p=347352 Pristyn Care is a healthcare firm that provides an online booking platform for appointments with medical experts. This startup announced a 32.7 percent increase in its operating revenue to Rs 601 crore in FY24. The firm uses advanced technologies on its online platform for online consultation services. The startup also allows patients to connect with healthcare experts for consultation regarding medical treatment. The income from the sale of medical services and healthcare products is the company’s primary source of revenue.

The startup also earns its income from medical devices and non-operating activities which stood at Rs 31 crore. The income from healthcare services was around Rs 332 crore in FY24, accounting for 55.24 percent of the overall revenue. This income increased the total revenue to Rs 632 crore in this financial year. The online app-based platform follows a hybrid model while setting up its own clinics and using third-party hospital infra for surgeries. The mobile application allows users to track surgery details and appointments.

Pristyn Care has raised around $181 million across multiple funding rounds since its inception, including $100 million secured during its series E funding round from Tiger Global Management, Epiq Capital Advisors, and other investors. After this funding round the company’s post-money valuation crossed 1.38 billion USD, achieving unicorn status. The company’s investors include Peak XV partners, Tiger Global Management, Hummingbird Ventures, and Epiq Capital. The online platform uses advanced technologies to provide a seamless user experience.

The company claims to offer its services in over 40 cities while treating patients in its 350 partner hospitals and managing 100 clinics. This healthcare platform enables patients to get medical advice from experts. The cost of procurement of medical devices increased to Rs 264 core in FY24. This cost accounted for 26 percent of the total expenses. The advertisement cost decreased by 21 percent to Rs 183 crore in FY24. The legal, travel, surgery, doctor fees, and other expenses increased the total cost by 15.6 percent to Rs 1,014 crore in the same duration. 

The Gurugram-based startup is focused on improving its platform while offering innovative healthcare solutions and positioning itself well in the healthcare market. The employee benefit decreased by 3.5 percent to Rs 192 crore in FY24. However, the company reduced its workforce by 7 percent to remain profitable for its initial public offering. The EBITDA margin stood at -54.59 percent while the ROCE was around -114.15 percent in the same period. The company faces competition with other online healthcare platforms such as First Cure and Mykare Health.

Conclusion :

Pristyn Care announced a 32.7 percent increase in its revenue from operations to Rs 601 crore in FY24. This healthcare firm offers an online platform for booking medical appointments. The sale of medical and healthcare-related services is the company’s major source of revenue. The healthcare platform reported around a 0.5 percent decrease in its loss to Rs 381 crore in FY24. The firm’s total expenditure increased by 15.6 percent and crossed Rs 1,014 crore in the same duration. Pristyn Care competes with other healthcare companies like First Cure.

]]>
Healthtech startup, Fibroheal Woundcare secured Rs 6.3 crore in a pre-series A funding round https://www.scoopearth.com/healthtech-startup-fibroheal-woundcare-secured-rs-6-3-crore-in-a-pre-series-a-funding-round/ Mon, 16 Dec 2024 11:58:20 +0000 https://www.scoopearth.com/?p=346810 FibroHeal Woundcare is a silk protein-based medical device startup that raised Rs 6.3 crore in its pre-series A funding round from its new and existing promoters. The funding round also saw investment from medical professionals, bankers, and surgeons. The startup plans to use these fresh proceeds to scale its operations, recruit more people, expand its network, and develop a market presence. The company will use some of this investment to improve its go-to-market strategy and enhance its platform services.

The startup offers innovative solutions and develops silk proteins as biomaterials for wound healing. FibroHeal uses biomaterial application of silk proteins for advanced and active wound care products to heal chronic and acute wounds. The startup aims to provide top healthcare solutions to its customers with a product range addressing various stages of wounds. The platform is designed to empower healthcare and medical professionals by offering innovative healthcare solutions. 

FirbroHeal Woundcare wants to revolutionize healthcare management and improve its product pipeline in the medical devices segment. This Bengaluru-based startup has raised around 1.59 million USD across seven funding rounds since its inception, including $552k secured during its seed funding round from KITVEN, Karnataka Trustee, and other investors. The firm offers its products in more than 500 hospitals across India. The company claims to provide its products through its centers in 19 states and various e-commerce platforms.

The startup currently provides products including mesh, foams, and powders to treat different wounds like acute, traumatic, chronic, non-healing, and others. This investment will enable the health-tech startup to enhance its market presence and boost its product development while developing new treatment solutions. The company focuses on expanding its services and product line. The company also committed a Rs 10 crore round from its new and existing investors. 

The investment shows the Investor’s trust in Fibroheal Woundcare’s market potential and business model. This startup provides the best healthcare-related solutions and helps patients treat wounds even if its infection c-section wounds. The startup provides solutions across different sectors including in the healthtech market. The company faces competition from other healthtech companies including OSPT, Serigen, and KLISBio. The startup aims to become a leading player in the healthtech industry and receives investment from CCAMP, Telama Investments, and KITVEN.

Conclusion :

Fibroheal Woundcare is a healthtech startup that secured Rs 6.3 crore in its pre-series A funding round. The funding round saw the participation firm’s existing and new investors including some surgeons, bankers, and medical professionals. This healthtech startup intends to use this fresh capital to scale its business, increase its product pipeline in the medical device sector, hire more people, and enhance its platform while developing healthcare solutions. 

The firm offers its products through e-commerce platforms and its stores in around 19 states across India. The company aims to revolutionize the healthtech sector and wound treatment industry. The company offers its products in over 500 hospitals. The Bengaluru-based startup has secured around $1.59 million to date, excluding the recent funding round, and it competes with companies like Serigen.

]]>
Healthtech startup, Redcliffe Labs reported a revenue of Rs 350 crore with a 28 percent slip in its losses in FY24 https://www.scoopearth.com/healthtech-startup-redcliffe-labs-reported-a-revenue-of-rs-350-crore-with-a-28-percent-slip-in-its-losses-in-fy24/ Tue, 10 Dec 2024 12:54:43 +0000 https://www.scoopearth.com/?p=346758 Redcliffe Labs is a health tech startup offering a diagnostic platform that announced an 11 percent increase in operational revenue to Rs 348.4 crore in FY24. The company provides a home-based diagnostic test. The application allows users to book lab services and collect samples from the doorstep. The sale of these services and products is the company’s primary source of revenue. The startup also provides doctor advisory and consultation services for personalized medicines.

The firm also earns its revenue from operating income and the sale of products. The non-operating income contributed Rs 5.3 crore to the total revenue for this financial year. The company has secured over 113 million USD across multiple funding rounds since its inception, including $42 million raised during its series C funding round led by IFU and LeapFrog Investments with the participation of other investors. The startup also offers diagnostic lab tests and specializes in pathological testing across several branches of radiology and biochemistry.

The data intelligence platform, tracxn mentioned that the startup’s post-money valuation to around 270 million USD. The platform is designed to assist doctors and radiologists in diagnosing diseases. The laboratory test cost increased by 62.2 percent In FY24. However, the advertising expenses decreased by 45 percent and stood at Rs 65.38 crore in the same duration. The cost of materials also decreased by 15 percent to Rs 106.31 crore in this financial year.

The firm’s total expenditure declined by 14.1 percent to Rs 556.2 crore in FY24. The startup reported a 38.5 percent decrease in its losses which stood out at Rs 249.85 crore in the same duration. Meanwhile, the depreciation cost increased by three times compared to the last year. The Noida-based startup saw increased investor interest. The costs of materials, travel, legal, advertising, and other expenses brought the total cost to Rs 556.16 crore in FY24.

The company receives investment from investors including Y Combinator and LetsVenture. Redcliffe Lab’s existing investor IFU is the largest institutional investor of the firm. The health tech sector in India saw increased investor interest. The EBITDA margin stood at -57.55 percent in FY24 while the ROCE was around -544.68 percent in the same duration. Redcliffe Labs faces competition from other diagnostic and healthtech platforms in the same market segment as Thyrocare, 1mg, and Healthians.

Conclusion :

Redcliffe Labs is a home-based service offering an online platform for diagnostic tests that announced an 11 percent increase in its revenue from operations to Rs 348.8 crore in FY24. This Noida-based startup offers a network of laboratories specializing in tests across several branches of radiology and biochemistry. The sale of these lab services and healthcare products is the firm’s major source of revenue.

The company saw a 14.1 percent decrease in its total expenditure in FY24. The firm managed to control its losses and saw 27.7 percent decline to Rs 249.85 crore in the same duration. The company has raised 113 million USD across multiple funding rounds since its inception and competes with platforms like Thyrocare.

]]>
Employee benefit and healthcare startup, Plum Insurance crossed Rs 45 crore in revenue with a 54 percent slip in its losses in FY24   https://www.scoopearth.com/employee-benefit-and-healthcare-startup-plum-insurance-crossed-rs-45-crore/ Sat, 07 Dec 2024 11:04:45 +0000 https://www.scoopearth.com/?p=346726 Plum Insurance is a healthcare platform that offers healthcare and wellness services. The startup announced a 154.7 percent increase in its operational revenue to Rs 41.3 crore in FY24. The firm provides health benefits like yoga sessions with group insurance solutions. The company’s primary source of revenue was the sales from its insurance services and interest commissions.

The startup also earns its income through health benefit services which increased by 79.9 percent to Rs 2.9 crore in the last fiscal year. The company provides group insurance solutions to startups and small companies with health benefits like health check-ups. The firm also earned Rs 4 crore through interest income. These increased costs pushed the total revenue to Rs 45.3 crore in FY24. However, the net loss also decreased by 53.8 percent compared to the last fiscal year and stood at Rs 25.52 crore in FY24. 

Plum covers medical expenses such as hospitalization, ICU, and other services for employees and their families. The company also provides plans for COVID coverages, tax benefits, and more. The software license cost decreased by 29.8 percent to Rs 3.44 crore with rent cost increasing by 26.1 percent to Rs 3.04 crore in FY24. Meanwhile, the firm’s total decreased by 53.8 percent and crossed Rs 70.8 crore in FY24. The employee benefits accounted for 76.7 percent of the total cost and decreased by 14.1 percent to Rs 54.3 crore in the same duration.

The Bengaluru-based startup has raised around 20.7 million USD across multiple funding rounds since its inception, including $15.7 million secured during its series A funding round from Surge and Tiger Global Management. The employee health benefits firm focuses on improving its brand presence and service. The startup managed to control its losses for this financial year. India Internet Fund is the firm’s largest institutional investor.

The EBITDA margin improved and stood at -53.64 percent in FY24, while the ROCE was reported to be around -39.23 percent in the same duration. Plum Insurance posted cash and bank balances of Rs 2.19 crore. The startup earned Rs 38.46 crore from sales of insurance commission increasing the total income in this fiscal year. The company faces competition with other employee health benefit platforms such as Accolade, Hinge Health, and Heath Equity. 

Conclusion :

Plum Insurance is an employee health benefits platform that reported a 154.7 percent increase in its revenue from operations to Rs 41.3 crore with a net loss of Rs 25.52 crore in FY24. This cloud-based platform offers group insurance solutions and employee health management services. These insurance services and interest on commissions are the company’s major sources of revenue.

The startup’s total expenditure decreased by 12.6 percent and crossed Rs 70.8 crore in FY24. Employee benefits decreased by 14.1 percent in this financial year to Rs 54.3 crore in the same duration. The company offers healthcare benefits to startups and small businesses. Plum Insurance competes with other healthcare and employee benefit platforms such as Share Care and Hinge Health. 

]]>
Healthcare firm, CitiusTech reported a revenue of Rs 3,551 crore with 6 times increase in its profit in FY24 https://www.scoopearth.com/healthcare-firm-citiustech-reported-a-revenue-of-rs-3551-crore-with-6-times-increase-in-its-profit-in-fy24/ Thu, 28 Nov 2024 11:16:05 +0000 https://www.scoopearth.com/?p=346613 CitiusTech is an online healthcare and consulting platform that announced a 1.1 percent increase in operational revenue to Rs 3,536.2 crore in FY24. The startup provides analytical solutions and technology services for healthcare providers. The healthcare analytics platform offers features like shared risk management, population health management, and more. Software development, support services, and implementation are the company’s primary source of revenue. 

The firm also earns its revenue from maintenance and sales of software licenses which declined by 53 percent to Rs 38 crore for this financial year. The company has secured over 1.07 billion USD across multiple funding rounds since its inception, including $960 million raised from Bain Capital Private Equity during its PE round. The platform also provides financial, operational, clinical, and regulatory reporting. The sales of support and software services accounted for 98.8 percent of the total operating revenue in FY24.

CitiusTech also earns Rs 15.7 crore through its non-operating services bringing the total revenue to Rs 3,551 crore in this fiscal year. The platform specializes in providing healthcare providers with several predictive analytics tools such as Claim Analytics and population viewing. The employee benefits accounted for 75 percent of the total expenses and increased in FY24. These costs grew by 4.2 percent to Rs 2,226 crore in the same duration. The depreciation cost increased by 6.2 percent to Rs 136 crore in FY24.

The total expenditure of the firm saw a growth of 3.3 percent and crossed Rs 2,968.3 crore in this financial year. The startup reported a 530.3 percent increase in its profit which stood out at Rs 350.28 crore in the same duration. The Mumbai-based startup was acquired for 955 million USD by Baring Private Equity, after filing an IPO in the US in 2022. The company aims $1 billion target for FY28 with all possible avenues including acquisitions for its fund.

The healthcare solutions and consultation platform has two institutional investors including Bain Capital Private Equity and General Atlantic. The healthcare sector in India saw increased investor interest. The EBITDA margin of the firm stood at 20.01 percent while the ROCE was around 37.67 percent in FY24. CitiusTech faces competition from other healthcare platforms offering analytical solutions for healthcare such as Health Catalyst and AssitRx.

Conclusion :

CitusTech is an online consultation and healthcare platform that announced a 1.1 percent increase in its operational revenue to Rs 3,536.2 crore in FY24. This Mumbai-based startup provides solutions including consulting, engineering, and software to hospitals and health organizations. The non-operating services contributed Rs 15.7 crore to the total revenue for this year.

The sale of software, support services, and implementation is the firm’s major source of revenue. The company’s profit increased by six times to Rs 350.28 crore in FY24. However, the employee benefits increased by 4.2 percent and stood at Rs 2,226 crore in this fiscal year. The firm’s total expenditure saw a 3.3 percent increase and crossed Rs 2,968.3 crore in the same duration. 

]]>
Diagnostics startup, Healthians reported a revenue of Rs 243 crore with a 65 percent decrease in its losses in FY24 https://www.scoopearth.com/diagnostics-startup-healthians-reported-a-revenue-of-rs-243-crore/ Fri, 22 Nov 2024 11:32:24 +0000 https://www.scoopearth.com/?p=346540 Healthians is an online at-home diagnostic test and health checkup startup that announced an 8.5 percent increase in operational revenue to Rs 243 crore in FY24. The startup provides full body checkups, blood tests, and sample collection services. The application offers doctor consultations for customized diet and nutrition plans. The sale of these running laboratories for pathological tests stood at Rs 240.5 crore in FY24 and was the company’s primary source of revenue. 

Entrackr mentioned in its report that the firm also earns Rs 2.2 crore from sales of supplements. The interest income of the firm stood at Rs 10 crore and brought the total revenue to Rs 253 crore in this financial year. The company has secured over 80.8 million USD across multiple funding rounds since its inception, including $797k raised during its series C funding round led by Brand Capital and other investors. The startup also provides a platform that enables users to browse through different checkups based on age, body condition, location, and other factors.

The data intelligence platform, tracxn mentioned that the startup’s post-money valuation was around 53 million USD as of Jan 31, 2023. The platform is designed to offer diagnostics and blood test services at home. The employee benefits accounted for over 40 percent of the total expenses and decreased in FY24. These costs saw an 11.8 percent decline to Rs 120 crore in the same duration. The advertisement costs also decreased by 62 percent and stood at Rs 39 crore in this financial year. 

The firm’s total expenditure decreased by 18.4 percent to Rs 298 crore in FY24. The startup reported a 65.1 percent decrease in its losses and stood out at Rs 45 crore in the same duration. Meanwhile, the employee benefits decreased compared to the last year. The Gurugram-based startup offers services for diagnostic tests while meeting market demands. The costs of materials, information technology, rent, legal, and other expenses stood at Rs 298 crore in FY24.

The startup data intelligence platform, tracxn mentioned that WestBridge Capital is the largest institutional investor of the firm. The diagnostic sector in India saw increased investor interest. The EBITDA margin stood at 0 percent marking its breakeven in FY24. However, the ROCE was around -20.41 percent in the same duration. The startup faces competition from other healthcare platforms in this market segment such as Hindustan Wellness and Lifewell.

Conclusion :

Healthians is an online platform for diagnostic tests and health checkups that announced an 8.5 percent increase in its operational revenue to Rs 243 crore in FY24. This Gurugram-based startup offers at-home diagnostic services across 250 cities in India. The company claims to have done more than 10 crore tests since its inception. 

The sale of supplements and running laboratories for tests are the firm’s major sources of revenue. The loss decreased by 65.1 percent to Rs 45 crore in FY24. The total expenditure of the firm also declined by 18.4 percent and crossed Rs 298 crore in the same duration. 

]]>
Health and nutrition platform, HealthKart secured $153 million in fresh capital from ChyrsCapital and Motilal Oswal Alternates https://www.scoopearth.com/health-and-nutrition-platform-healthkart-secured-153-million-in-fresh-capital/ Mon, 18 Nov 2024 11:36:53 +0000 https://www.scoopearth.com/?p=346510 HealthKart is an omnichannel nutrition platform that has secured 153 million USD from Motilal Oswal Alternates and ChrysCapital in its ongoing funding round. This round saw the participation of several investors including Neo Group and A91 Partners. HealthKart provides an online platform for sports, health, and nutritional supplements. The startup plans to use these proceeds to scale its operations, enhance its platform, and expand its services.

The company aims to strengthen its position in the healthcare and nutritional market segment. The startup allows users to search and purchase health-related products online. The online platform also offers vitamins, supplements, sports nutrition, herbs, and more. The startup provides a healthcare services platform offering gym equipment, fitness accessories, and other health-related services. This investment shows investors’ trust in HealthKart’s market potential and business model.

The startup data intelligence platform, thekredible reported that the firm has raised around 360 million USD across multiple funding rounds since its inception, including $135 million raised from existing investors A91 partners, Temasek, and others during its series H funding round in 2022. The company has several nutrition brands, including HKVitals, Gritzo, and MuscleBlaze. The startup offers its products in 200 retail stores across 90 cities in India. 

The Gurugram-based firm also announced its $6.5 million first ESOP buyback plan for current and former employees. HealthKart started as a generic drug search business that later on developed as a healthcare and nutrition brand. The company plans to use some of this investment to enhance its online platform and develop its market presence. The development came just after the nutritional platforms saw increased investor interest.

The healthcare startup posted an increase in its revenue threshold to Rs 1,000 crore for this financial year. The company is yet to announce its official report for FY24. The startup posted revenue of Rs 832 crore in FY23 with a loss of Rs 76 crore in the same duration. The firm also secured $25 million from Sofina and others in the series G funding round. HealthKart wants to transform the nutritional and healthcare market segment using its advanced technologies. 

The data intelligence platform, tracxn mentioned that the firm has around 13 institutional investors including Peak XV partners, Intel Capital, and Kae Capital. The company faces competition from other healthcare products offering platforms such as Bright LifeCare and SastaSundar.

Conclusion :

HealthKart is a healthcare and nutrition startup offering nutritional supplements. The startup got fresh capital of $153 million from ChyrsCapital and Motilal Oswal Alternates. The funding round had participation from other investors including Neo Group and A91 Partners along with new investors. The company also announced its Employee ESOP buyback plan of $6.5 million for its employees. 

The firm intends to use this investment to scale its operations, enhance its platform, and advance its technology. The company has raised around $360 million across multiple funding rounds since its inception. The startup claims to have its offline presence in 200 stores across 90 cities in the country and competes with other healthcare product offering platforms like Bright LifeCare.

]]>
Healthcare startup, Qure.ai reported a revenue of Rs 141 crore with a 38 percent decrease in its losses in FY24 https://www.scoopearth.com/healthcare-startup-qure-ai-reported-a-revenue-of-rs-141-crore-with-a-38-percent-decrease-in-its-losses-in-fy24/ Thu, 17 Oct 2024 10:59:05 +0000 https://www.scoopearth.com/?p=345774 Qure.ai is an artificial intelligence-based health tech startup platform that announced an 83.1 percent increase in operational revenue to Rs 141 crore in FY24. The startup provides AI-based support tools for diagnostic images. The application offers products like qER, qXR, and more. The sale of these tools and software is the company’s primary source of revenue. The startup also provides digital pathology solutions to distinguish malignant from various tumor types.

Entrackr mentioned in its report that the firm also earns its revenue from sales of healthcare products. The software and sales of tools accounted for 87.23 percent of the total revenue for the last financial year. The company has secured over 123 million USD across seven funding rounds since its inception, including $65 million raised during its series D funding round led by 360 One and Lightspeed Venture Partners with the participation of other investors. The startup also offers radiology solutions including disease diagnosis from MRIs, CT scans, or X-rays.

The data intelligence platform, tracxn mentioned that the startup’s post-money valuation to around 233 million USD. The platform is designed to assist physicians and radiologists in diagnosing critical conditions like lung cancer, stroke, and tuberculosis. 

The employee benefits account for more than 50 percent of the total expenses and increased in FY24. These costs increased by 66.2 percent to Rs 108 crore in the same duration, this includes the Rs 12 crore allocated to the employee stock option plan via non-cash component.

The total expenditure of the firm increased by 18.2 percent to Rs 201 crore in FY24. The startup reported a 38.5 percent decrease in its losses which stood out at Rs 48 crore in the same duration. Meanwhile, the employee benefits increased compared to the last year.

The Mumbai-based startup offers support tools for diagnostic images while meeting market demands. The costs of materials, travel, Communication, legal, advertising, and other expenses amounted to 18.2 percent of the overall expenditure and brought the total cost to Rs 201 crore in FY24.

The startup data intelligence platform, tracxn mentioned that Sequoia Capital is the largest institutional investor of the firm. The health tech sector in India saw increased investor interest. The EBITDA margin stood at -22.73 percent. Qure.ai faces competition from other healthcare platforms in this market segment such as Viz.ai and Perspectum.

Conclusion :

Qure.ai is an AI-based decision support tool offering an online platform for diagnostic images that announced an 83.1 percent increase in its operational revenue to Rs 141 crore in FY24. This Mumbai-based startup offers various AI-based solutions to assist physicians and radiologists in diagnosing conditions like tuberculosis.

The sale of these services and healthcare products is the firm’s major source of revenue. The loss also decreased by 38.5 percent to Rs 48 crore in FY24. The total expenditure of the firm increased by 18.2 percent and crossed Rs 201 crore in the same duration. The company controlled its losses by effective cost control. 

]]>
Mental Health Platform Lissun Raises $2.5 Mn In Pre-Series A Funding Led By RPSG Capital Ventures https://www.scoopearth.com/mental-health-platform-lissun-raises-2-5-mn-in-pre-series-a-funding-led-by-rpsg-capital-ventures/ Mon, 30 Sep 2024 10:21:11 +0000 https://www.scoopearth.com/?p=345320 Lissun, a prominent mental health company recently closed pre-Series A funding at $2.5 million. This round was led by RPSG capital ventures-angular ventures new investors included Multiply ventures, Atrium Angels, Ivycap ventures, Rainmatter, and Sucseed ventures. This round of funding takes Lissun up to $5m in total funding to date, proof of increasing investor interest in the platform and its new modalities for digital healthcare. 

Vision of Lissun

Lissun was founded in 2021 by Dr. Krishna Veer Singh and Tarun Gupta and has quickly entered the mental health field with its services. The company based in Gurgaon partners with healthcare, corporate, and educational entities to offer holistic solutions for high-stress situations including diseases, exams, and working pressures. The proposed all-encompassing plan of Lissun includes a division named Sunshine by Lissun that provides Child Development services for ASD, ADHD, and Learning disorders.

Funding Details

The funding of $2.5 Million in this pre-Series A round will be instrumental in scaling up a network of Lissun’s centers, improving technology support to centers, and diversifying services offered to clients. It aims to utilize the funds to get newcomer who may be lacking information about their mental health and developmental state, to provide customized and full-spectrum care at the exact time they require it.

The Co-founder & Chief Executive Officer of Lissun, Krishna Veer Singh said, “This Pre-Series A funding reinforces Lissun’s mission to solve mental health at scale. It equips us with the crucial resources needed to expand our services, enhance our technology, grow our team, and increase our reach. With this investment, we are further empowered to deliver high-quality, accessible mental health care to those who need it most, driving significant advancements in the field and setting new benchmarks for excellence in mental health care across India.”

Quotation Source: BWDISRUPT  

Innovative Growth Model

Lissun has transformed over 75,000 people’s lives by providing over 100,000 mental health sessions. Lissun’s “phygital” strategy has been linked to the establishment of a sustainable and accessible platform for mental health care. This approach has eased the task of asking for help and made it easier for minority and excluded customer groups. 

The Founder and Managing Partner, of IvyCap Ventures, Vikran Gupta said, “Our continued investment in Lissun reflects our unwavering confidence in their mission and the immense potential they hold to transform mental health care across India. Lissun’s dedication to addressing both awareness and accessibility issues within mental health, especially through the Sunshine division, sets them apart in the industry. As they scale their impact on mental health and development issues, we believe they are poised to make notable strides in offering critical support where it’s most needed, fostering a positive change in the mental health landscape.”

Quotation Source: BWDISRUPT  

Success Story and Market Impact

The mental health sector is also in a process of transformation in India due to rising awareness levels and the integration of technology. Lissun’s success story may characterize the increasing appreciation of mental health and the necessity for the availability and efficacy of treatment services. Technology and a broad concept in executing the vision make Lissun ready for effecting change in the changing environment. The ability to combine physical and digital services, allows the company to meet the vast majority of people’s needs in mental health, from chronic diseases to exams stress and workplace stress. This approach not only adds value to care and heals people but also provides the possibility to avail more and more people.

Conclusion

The latest financial investment of $2.5 million raised pre-Series A funding round vis-a-vis RPSG Capital Ventures can be regarded as a major step forward in Lissun’s mission of changing mental health care in India. By emphasizing the importance of innovation, accessibility, and the provision of comprehensive care, Lissun is set to leave its mark on the mental health space. 

]]>
Healthy bread brand The Health Factory raises $3.5 million from Peak XV’s Surge https://www.scoopearth.com/healthy-bread-brand-the-health-factory-raises-3-5-million-from-peak-xvs-surge/ Wed, 25 Sep 2024 11:45:14 +0000 https://www.scoopearth.com/?p=345059 The Health Factory, a leading brand in the healthy bread niche, has raised its seed round at $3.5 million. The round was raised by Surge, a scale-up program for early-stage startups by Peak XV, with the couple by angel investors Kartik Mehta, Ali Tambawala, and Sunil Tulsiani. 

Vision and Mission of the Health Factory

The Health Factory was founded in 2018 and it is led by partners Vinay Maheshwari and Mohit Sankhala and mentor Jos Vast, who specializes in bakes and desserts. Being an upcoming brand, the Health Factory has been on the campaign to revolutionize the market segment with a concern for the value, genuineness, and overall wholesome health of the bread consumers.

The brand has come to the forefront for its wide portfolio of products such as the first Protein Bread of India and the Vegan Protein Bread. There are no chemicals or preservatives in the products and this meets the criteria of the increasing number of health-aware consumers. 

The mission of the Health Factory is to deliver healthy bread and to achieve multiple objectives. The firm is committed to the improved well-being of consumers which is why it presents products that are both healthy and tasty. According to the business model, The Health Factory will provide consumers with delicious meals made of quality ingredients and use new recipes for a healthy diet. 

Funding Details

The $3.5 million funding will be effectively channeled to increase product innovation and research and development. This will also help The Health Factory in developing new segments of its products, and give a boost to other products as well. The company intends to strengthen its distribution via general and modern trade along with investing more in technology for logistics and operations to support the accelerated growth phase.

Innovation and Expansion in the Market Presence

TheHealth Factory products are available in large metropolitan centers including Mumbai, Pune, Bangalore, Delhi, Chandigarh, Ahmedabad, Lucknow, Hyderabad, and Chennai. They are available on e-commerce applications such as Zepto, Swiggy Instamart, and BlinkIt. The currently evolving consumer demand for healthier bread brands is now targeting the expansion of its coverage within Tier 1 and Tier 2 markets.

The Health Factory has remained innovative in the bread market in the recent past. Its portfolio comprises products like zero maida bread no refined flour, and the Presence of other health-wise specialties. These products are comprehensible in meeting the customers who are more anxious to buy healthily beneficial products such as food products. This has applied pressure on the company to provide quality and innovation to compensate for the tough market. 

Surge, Peak XV’s Scale-up Program

Surge, the scale-up program of Peak XV, focuses on helping startups that appear to have a high growth rate. Thus, Surge’s decision to lead this funding round is a clear indication of the company’s belief in The Health Factory’s direction and ability to challenge the already saturated bread market. The debt financing from Surge and other angel investors will offer The Health Factory the working capital and support it needs to expand beyond its niche successfully. 

Conclusion

The latest funding round at Health Factory includes $3.5 million and can be considered a major achievement for the company. The healthy bread market in India has huge potential. The Health Factory is set to transform the healthy bread market in India by involving Peak XV’s Surge and other angel investors. Targeting innovation, quality, and consumer welfare, the company is destined to leave an indelible mark in the world of food and help to build a better future for everyone.

]]>