A joint report released by ASSOCHAM and RNCOS reveals that the Indian healthcare sector stood at $110 billion and is expected to grow at a CAGR of 22 per cent which will result in increasing the valuation of the sector by three times i.e. $372 billion by 2022. In this sector, a Bengaluru-based health tech startup healthi has raised $3.1 million funding in a round led by Montane Ventures.
In 2014, the startup healthi was founded by Krishna Ulagaratchagan and Rekuram Varadharaj. The startup offers a set of tools to help customers make smart choices about their health. The fund raised by the startup will be utilised to improve their product and technology so that more customers can engage with them and take the health advice.
Healthi founders said, "This funding round, led by Montane Ventures, gives us the confidence and resources to power forward in our mission to empower millions of users to live fuller lives by taking control of their health.
They added, The feedback and increasing traction that we have seen to date reinforces our vision that a strong focus on user experience and the right combination of technology and analytics can effectively help users to lead healthy lives.
The startup aims to get about 1.4 million users on board by the end of this year. The startup has attracted the interest from providers in ASEAN and EMEA regions for its analytics and engagement platform. The startup is also planning to roll out international pilots to this end in the next 12 to 18 months.
Josh Bornstein, Director, Montane Ventures, said, "Montane Ventures stemmed from the idea of supporting companies like healthi that aim to create an impact in crucial areas. We are committed to supporting them in scaling out this technology and its applications."
In this space, recently a health technology startup eKincare has also raised $1.5 million funding from a clutch of investors that include Ventureast, Endiya Partners, Eight Roads, Touchstone equities and Cyient founder BVR Mohan Reddy.