Healthcare startup Glamyo Health on September 28 announced that it has raised $3 million in a Series A round led by Ananta Capital and with participation from Agility ventures, Udtara Ventures, We Founder Circle, and Dexter Angels.
Including the current round, Glamyo Health has raised in total $3.5 million since the end of 2019, reported Business Standard.
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"Due to the pandemic, there has been a huge backlog of elective surgeries. Lack of quality healthcare professionals and facilities is also a challenge in India. In the last three quarters we have witnessed 300 percentage surge in the business on our platform. Besides we have also grown 3x in a number of cities in the past three months," the business daily quoted co-founder at Glamyo Health Archit Garg as saying.
Other investors include Tej Kapoor (Managing Partner at Fosun), Vivek Gupta and Abhay Hanjura (Founders of Licious), Dhruv Kapoor (Partner at Sistema), Aditya Singh (Principal at Stride VC), Ayush Jain (Leading South India for AWS), etc.
Presently, the firm has presence in 10 cities such as Mumbai, Bengaluru, Hyderabad and Pune, and also Tier-2 cities like Indore, Bhubaneshwar, Chandigarh and Patna. The firm also is planning to scale up in 20 more cities in the next six months.
“We have grown with a monthly CAGR of about 35 percent in the past 18 months. The key reason for this growth is that we keep the patient at the centre of all our offerings. Surgical care in India is riddled with challenges like price opacity, pricing shocks, friction in patient experience, just to name a few," Co-Founder at Glamyo Health Dr Preet Pal Thakur said.
"We really liked the passion, vision and execution of Archit and Preet, as Glamyo has built its hospital network in 250-plus pin codes in 10 cities. It is a big achievement for the 1.5-year-old start-up, as many asset-heavy players in the industry still do not have such a diverse presence," the daily quoted Ananta Capital's Managing Partner Lovkesh Kapoor.
Agility Ventures co-founder Prashant Narang added Glamyo has used technology to deliver personalised patient care during the covid era. "We're confident that in the times to come, Glamyo will be a leading consumer-centric elective surgery provider in India," he said.