Healthcare start up healthi raises USD 3.1 million from Montane Ventures
Bengaluru: Healthcare start-up healthi on Tuesday said it raised $3.1 million in a round of funding led by Montane Ventures, an early-stage venture capital firm associated with the Piramal family office.
Bangalore-based healthi offers preventive healthcare services online through tie-ups with healthcare providers and corporates, from where it sources its customers.
Healthi will use the funding for product development efforts and for hiring more talent in its product and technology team, it said in a statement on Tuesday.
The start-up, founded in 2014, connects healthcare providers with 120 corporate clients. Employees at these corporate firms and their family members are the company’s biggest customers, apart from individual users registering with the online platform, healthi co-founder Rekuram Varadharaj said in an interview.
Healthi is present in 180 cities across India and claims to have grown by 3.5 times in revenue terms over the last three years. It aims to roll out international pilots in the Asean and EMEA regions in the next 12 to 18 months.
The start-up was founded by Krishna Ulagaratchagan and Varadharaj, MBA graduates based out of Stanford University.
Customers can log in to the healthi website and choose from health check-up packages across categories like diabetes monitoring, weight management, heart disease prevention checkup and more. Users need to input basic details like gender, height, weight and others, and using predictive analytics, the platform suggests the most suitable health checkup package.
Healthi employs predictive analysis using data inputs like family health history, personal health history, health checkup results and other factors to present a comprehensive health report to the user. The report not only indicates how healthy the person is, but also other details like preventive health measures, and where to get medical help from.
“The burden of non-communicable disease is on the rise today, making preventive health extremely important. Historically, the focus of healthcare in India has mostly been curative in nature. As spending in the sector increases, prevention will play an increasing role where AI (artificial intelligence) and digital leveraged effectively, can enable that change,” Josh Bornstein, partner at Montane Ventures, said in a statement.
“Healthi is a game changer…They have developed an innovative digital health platform with significant IP around predictive analytics and personalized engagement, that has applicability in many realms going forward, as already demonstrated by the traction that they have witnessed,” Bornstein added.