The round will also see participation from existing investors Stellaris Venture, Vertex Ventures, and Waao Partners
Nandan Nilekani’s Fundamentum Partnership will own 17.91% in the startup
In September 2021, Ayu Health bagged $6.3 Mn in its Series A round
Bengaluru-based healthtech startup Ayu Health is raising $21 Mn in its Series B round of funding. The fresh investment round is being led by Nandan Nilekani’s Fundamentum Partnership. It will also see participation from Stellaris Venture Partners, Vertex Ventures, Waao Partners, Capier Investments, among others.
With this investment, Fundamentum Partnership will hold 17.91% stake on a fully diluted basis in the startup. Angel investors such as Khadim Batti, Ashish Gupta, Hemant Jodha will also participate in the round.
In its extraordinary general meeting, held on April 23, 2022, Ayu Health decided to allot 65,029 Series B compulsory convertible preference shares and 10 equity shares to 13 of its investors to raise $21 Mn (INR 160.6 Cr).
The fresh development comes almost eight months after Ayu Health raised $6.3 Mn in a Series A round. Back then, the funding round was led by Vertex Ventures and Stellaris Venture Partners.
The round also saw participation from angel investors including Mamaearth’s Varun Alagh, Helion’s Ashish Gupta and EyeQ Hospitals’ Rajat Goel, among others.
Founded in 2020 by Himesh Joshi, Arjit Gupta and Karan Gupta, Ayu Health currently has a chain of 20 hospitals with 1000+ beds in Chandigarh and Bengaluru. The startup claims that its proprietary technology allows hospitals to serve patients at lower costs, and maintain high medical quality standards.
The Indian healthtech market is estimated to reach $21 Bn by 2025, which is just 3.3% of the total addressable healthcare market, pegged to reach $638 Bn in 2025.
