The parent company of healthi.in, an online platform which offers customised and technology-backed preventive health checkup packages, has raised $3.1 million (around Rs 20 crore) from Montane Ventures, a venture capital firm that counts Ajay Piramal's family office as an anchor investor.
Bengaluru-headquartered Svasth Life Pvt Ltd, which operates healthi.in, said in a statement that the four-year-old startup will use the funds to fastrack its product development, bolster its product and technology teams and scale up efforts to reach customers.
“As spending in the sector increases, prevention will play an increasing role where AI and digital leveraged effectively, can enable that change [from curative to preventive healthcare],” said Josh Bornstein, partner at Montane Ventures.
Healthi was founded in 2014 by Krishna Ulagaratchagan (chief executive officer) and Rekuram Varadharaj (chief operating officer). It offers health prevention packages based on a customer's specific needs. These include diabetes prevention, vitamin check-up, heart disease prevention, obesity prevention and anemia prevention, among others.
The startup uses predictive analytics and personalisation algorithms to give users a clinically-validated overall picture of their health including paramaters such as genetic disposition, quality of nutrition and sleep, and level of physical activity.
Healthi.in also offers its packages to corporates and insurance groups. Through its partnerships with healthcare brands, healthi.in has a presence in 180 cities across the country.
The company said it is on track to sign up about 14 lakh users in 2018.
Apart from growing its India user base, healthi.in also has plans to offer its analytics and engagement platform to the 10 ASEAN countries and EMEA (Europe, the Middle East and Africa). The company will roll out international pilots in the next 12 to 18 months.
Other startups in the healthtech space have also raised funding in the recent past.
Last week, Bengaluru-based Axio Biosolutions Pvt. Ltd, which makes a sponge-like bandage that helps blood clot instantly when pressed against cuts or wounds, raised $7.4 million (Rs 47 crore) in a Series B round led by Ratan Tata’s RNT Capital Advisors.
A few days before that, ERC Eye Care Pvt. Ltd, which provides low-cost eye-care services for the bottom-of-the-pyramid (BoP) market, received follow-on investment from one of its existing investors, Ennovent India. The amount was undisclosed.