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.
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