Eight Roads-backed healthtech firm bags fresh funds

Spry, a SaaS platform for physical therapists, has raised an undisclosed sum in a new funding round led by Eight Roads Ventures, with participation from F-Prime Capital and its existing investor Together Fund.

Spry founders Riyaz Rehman (left) and Brijraj Bhuptani / Photo credit: Spry

The latest investment, which pushes the company’s total funds raised to US$10 million, will be used to build a practice management tool for physical rehabilitation, the company said in a statement.

Founded in 2021 by Riyaz Rehman and former Ola CTO Brijraj Bhuptani, Spry supports a clinic’s end-to-end operations such as patient onboarding, scheduling, assessments, revenue cycle management, and patient lifecycle management, among others.

The healthcare startup’s self-assessment portal also uses computer vision to provide patients with a report of their mobility and flexibility via auto-generated scorecards, which helps the physical therapists manage their time effectively during an appointment.

“Spry’s comprehensive and omnichannel platform is a very compelling value proposition to the growing number of physical therapy practices who aspire to provide a continuum of care to their patients, in clinic and at home,” said Prem Pavoor, head of India and healthcare investments at Eight Roads Ventures.

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Spry employs 25 staff members across India and the US and aims to expand its team in the respective countries, especially across its engineering and go-to-market functions in the coming months.

In December 2021, Spry raised US$3 million in its seed round from investors including Together Fund, FJ Labs, Pareto, and Knowledge Capital, among others.