Lokesh Choudhary · · 2 min readIndia-based Alyve Health secures $5.5m to streamline healthcare processes
(From left) Alyve Health co-founders Vineet Mehta, Sushant Roy, and Shashank Avadhani / Photo credit: Alyve Health
India’s healthtech industry has surged since the Covid-19 pandemic. According to a report by the International Trade Administration, the sector is projected to reach a market size of US$610 billion by 2026, up from US$370 billion in 2022.
As the market matures, consumers increasingly seek convenience in their healthcare needs. One platform aiming to streamline the healthcare process is Alyve Health.
Founded in May 2020 by Shashank Avadhani, Sushant Roy, and Vineet Mehta, Alyve Health offers various health plans, which include services such as medical consultations, medication access, gym memberships, and wellness programs.
Recently, the startup raised US$5.5 million in a series A funding round led by Axilor Ventures, with support from existing investors 1Crowd Fund and Inhealth Ventures. Trifecta Capital also joined the round, providing venture debt.
The new funds will help Alyve Health enhance its platform, expand its team, and broaden its operations.
According to Avadhani, the platform has more than 1.1 million users. Alyve Health operates four offices and employs 108 people, with plans to increase the employee count by around 30 to 50 in the current financial year.
The fundraise follows the firm’s seed round in April 2022, when it secured US$900,000 from Axilor Ventures and 1Crowd Fund.
See also: Mirxes records $58.7m operating losses and $24.2m revenue in lead up to HK listing
Editing by Miguel Cordon and Lorenzo Kyle Subido
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