Glamyo Health raises $3M in Series A round
Glamyo Health, an asset-light healthcare startup, announced that it has raised $3 million in a Series A round.
Ananta Capital led the round along with participation from Agility ventures; Udtara Ventures; We Founder Circle; Dexter Angels; 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; and others.
Founded at the end of 2019, the startup has raised a total of $3.5 million in funding so far.
Speaking about the funding, Archit Garg, Co-founder at Glamyo Health, said, “Due to the pandemic, there has been a huge backlog of elective surgeries. The lack of quality healthcare professionals and facilities is also a challenge in India. At Glamyo Health, we are bridging the gap by keeping quality at the core. In the last three quarters, we have witnessed a 300 percent surge in the business through our platform. Besides, we have also grown 3x in the number of cities in the last three months.”
Dr. Preet Pal Thakur, Co-founder at Glamyo Health added, “We have grown with a monthly CAGR of 35 percent in the last 18 months. The key reason for this growth is that we keep the patient at the center of all our offerings. Surgical care in India is riddled with challenges like price opacity, even pricing shocks, friction in patient experience – just to name a few. Glamyo Health is essentially solving this trust deficit.”
Currently, the company is present in 10 cities including Mumbai, Bengaluru, Hyderabad, Pune, and Tier-II cities like Indore, Bhubaneshwar, Chandigarh, and Patna. The Glamyo team is looking to scale up in 20+ cities in the next six months.
Commenting on the investment, Lovkesh Kapoor, Managing Partner at Ananta Capital said, “We really liked the passion, vision, and execution of Archit and Preet, as Glamyo has built its hospital network in 250+ pin codes in 10 cities. It is a big achievement for the 1.5-year-old startup as many asset-heavy players in the industry still do not have such a diverse presence.”
“In this covid era, Glamyo has used technology to deliver personalized patient care. We’re confident that in the times to come, Glamyo will be a leading consumer-centric elective surgery provider in India,” stated Prashant Narang, Co-founder, Agility Ventures.
Ankit Lakhotia, Partner, Udtara Ventures said, “We are sure that Glamyo will soon grab a significant market share in the fragmented healthcare infrastructure and services category, driving larger benefits to its consumers.”
Glamyo Health seems to be an interesting platform in the healthcare segment offering unique solutions. I’m sure the company will continue to reach new heights of success in its journey ahead. My best wishes to the team of Glamyo Health.Shishir Gupta, Founder and CEO, startupLanes
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