Vaatsalya, a hospital chain focusing on affordable healthcare, has raised second round of funding from Oasis Fund and returning investor Seedfund. The funds will be used by Vaatsalya to expand hospital network across India. The amount of funds raised has not been disclosed. The firm had raised Rs 6 crore from Seedfund and Aavishkaar last year.
Oasis Fund is part of Swiss investment advisory firm Bamboo Finance which specialises in financing social entrepreneurship. It has also invested in Aavishkaar Micro-Venture Capital fund.
Vaatsalya presently operates primary and secondary healthcare services across seven districts in Karnataka – Hubli, Gadag, Karwar, Bijapur, Mandya, Raichur and Hassan. It is currently managing 300 beds, and plans to expand to 20 hospitals across southern region with the current round. The firm would also look to partner with existing nursing homes and hospitals that share its philosphy, said COO and co-founder Dr Veerendra Hiremath in a release.
Vaatsalya focuses on the core specialities of gynaecology, paediatrics, general surgery and general medicine at each of its hospitals. It also provides services dialysis, intensive care units, paediatric surgery, diabetology and neurosurgery depending on the need in area of its operation.
There have been some similar investments in the past. Acumen Fund has invested in LifeSpring, a network of maternity and child healthcare hospitals providing services at low cost.
“We are proud to be associated with Vaatsalya as its model has shown that low cost doesn’t necessarily mean low quality and that scalable and profitable business model can be built while providing lower priced health care services,” said Bharati Jacob of Seedfund in a release.