Ayu Health—a healthtech startup with a network of hospitals providing high-quality, affordable healthcare—on Thursday announced that it has raised $6.3 million in Series A financing from Vertex Ventures and Stellaris Venture Partners. The round also saw participation from angel investors including Varun Alagh, Mamaearth, Ashish Gupta, Helion and Rajat Goel, EyeQ Hospitals.
This fund infusion will help the platform to expand its hospital network and build new technology solutions to enable insurance processing, efficient procurement and clinical quality management at network hospitals.
“Our mission at Ayu is to democratize hospital care by using technology to improve both the quality, efficiency and reach of stand-alone hospitals. Our partner hospitals use our technology platform to improve clinical quality, procure medicines and consumables, and process insurance claims; this results in better clinical outcomes, a smooth in-hospital experience and transparent pricing for patients. We are thrilled to partner with Stellaris and Vertex, as well as our angel investors to take our cause forward,” said Himesh Joshi, co-founder, Ayu Health.
Founded in 2019, Ayu Health has over 20 hospitals in Chandigarh and Bengaluru – all accredited by National Accreditation Board for Hospitals and Healthcare Providers (NABH) – making it one of the largest hospital chains in these cities.
“We have partnered with Himesh, Karan, and Arjit previously when they were running Zefo, and have very high regard for their capabilities. Their plan to tech-enabled the $100 billion private hospital market and create India’s largest branded hospital chain resonated deeply with us. With their technology-led approach, they can provide high-quality and affordable hospital care to the mass market of patients,” shared RiteshBanglani, partner, Stellaris Venture Partners.
The startup enables its network hospitals with technology to maintain high clinical standards and provide a better patient experience at an affordable cost, the platform claims.
“At Vertex, we are continuously looking for ways in which technology can drive efficiencies in healthcare by demystifying complex tenets of care such as pricing, insurance and non-medical interventions. We are excited to partner with Ayu Health on this mission, especially with evolving customer behavior towards healthcare in the post-pandemic world,” added Piyush Kharbanda, partner, Vertex Ventures Southeast Asia, and India.
Ayu Health is expected to grow its business tenfold in FY22 and expand its bed capacity to more than 5000 beds in 6 cities by December 2022.
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