Blume Ventures-Backed HealthAssure bags Rs 50 cr in funding from Rajiv Dadlani Group, others
HealthAssure, a healthcare aggregator based in Mumbai, has secured $2.5 million in pre-series B funding round led by the Rajiv Dadlani Group. The financing round also saw participation from Blume Ventures, Leo Capital, along with a US-based impact fund, reputed family offices and high net-worth individuals.
According to the company, it plans to use these funds to improve the product, boost distribution, sharpen the OPD insurance network, and make investments in cutting-edge primary healthcare technologies.
“Raising our largest round yet in such difficult market conditions displays the confidence which our existing and new investors have in our unique business model, and the potential of the large healthcare market ripe for disruption. This motivates us to build further on our assets, capitalise on the opportunity, and solidify our leadership position in the market. We would like to thank our newest backers and Blume for being part of our fulfilling startup journey.”said Varun Gera, Founder and CEO, HealthAssure.
From the Family Office of the Rajiv Dadlani Group, Rajiv Dadlani said, “We have tracked HealthAssure’s impressive growth journey for a while. Varun and the HealthAssure team have a strong pedigree and rich experience and have built a strong foundation; they are well poised to be a leading brand in the healthtech and insurtech industry.”
HealthAssure is aiming for the $40 billion OPD and insurance market in India by ‘productising’ the HMO ecosystem of primary care it has developed over the past 10 years in 1,200 cities, realising that insurance in India does not cover day-to-day health. The company asserts that it can access a $3 billion total addressable market right now by developing unique items and selling them through a variety of distribution channels.
Additionally, the company wants to double its present sales within the next three years.
It is worth noting that Through its prior funding rounds, HealthAssure has so far raised Rs 220 million. Furthermore, it has also acquired the fitness startup FitMeIn.
In order to provide healthcare plans for business employees the Mumbai based startup, HealthAssure was founded in 2011 by Varun Gera, the director of the company is Ninad Rajewhich. The startup is India’s top primary healthcare aggregator, has a vast network of 4,500 centres spread across 1,500 cities. Their goal is to make some of the best medical facilities easily accessible to people across the nation.
HealthAssure seems to be an interesting startup with spurring new development on wellness and fitness services platform. Congratulations on your startup. May this new business bring you huge success and fulfillment.Shishir Gupta, Founder and CEO, StartupLanes
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