Healthtech platform SynergyX bags angel funding
SynergyX team

SynergyX, a healthtech startup operated by IVY Prohealth Solutions Pvt Ltd, has raised an angel round of funding.

The external capital was raised from Asha Tripathi, wife of Ananad Tripathi, chief manager, Bank of India, SynergyX founders told VCCircle.

SynergyX will use the fund for product development and expansion.

The Mumbai-based startup was founded in November last year by Santosh Dwivedi, Randhir Kumar Singh, Roshni Singh and Parwati Dwivedi.

It is a business to business (B2B) health-tech platform which provides healthcare services and products like medicines, diagnostic test and doctor services.

Santosh Dwivedi has over 18 years of experience in the healthcare space, having worked with companies such as Zydus and Fresenius Medical Care.

He is also a serial entrepreneur, having previously founded Diacare Solutions, Quality Kidney Care and DB Healthcare.

Randhir Kumar Singh, who's also had an entrepreneurial stint before, has over 22 years of experience in production, designing, operations, and management in different sector.

Roshni Singh is a graduate with experience in administration of companies and Parwati Dwivedi is a graduate with experience in human resources management.

Asha Tripathi said that SynergyX is unilaterally cutting cost and heling spread quality healthcare services to all stake holders from doctors, pathologist,pharmacists to pateints.

Devansh Lakhani, director, Lakhani Financial Services Director, which advised the startup on the funding, said that platform has been doing a monthly revenue of Rs 35 lakh and 50 deliveries in the business to business (B2B0 space by opening new smart pharmacies.

"The B2B business is expected to grow substantially in the next few months. The startup also has plans to foray in the B2C (business to consumer) segment soon," he added.

The coronavirus pandemic has provided tailwinds to the healthtech segment, prompting even traditional healthcare focused funds like Quadria Capital to say that Covid-19 has sparked a pivot towards healthtech investments.

This year also saw e-pharmacy startup PharmEasy signing a definitive agreement to acquire a majority stake in diagnostics firm Thyrocare Technologies for Rs 4,546 crore ($613 million), in a defining deal that will see a startup buying a traditional listed company in India.

Other major funded B2B healthtech platforms in India include Medikabazaar and Akna.

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