Health-tech company Credihealth, is today announcing that it has closed its Pre-Series A funding round by raising $1.5 million from Tolaram Inc., family office investment arm of Tolaram Group and Mountain Pine Capital.
Bala Swaminathan (Ex) KPMG partner, one of the earliest investors in the platform, has also invested in this round as well. Within just three years of operations, Credihealth claims to have already achieved break even and has been maintaining a positive cash flow from an early stage.
With this round of funding, Credihealth is aiming to expand its operations and fund the new services to address the non-clinical pain points of patients.
Commenting on the funding, Mr Ravi Virmani, Founder and Managing Director, Credihealth said,
More than money, it is innovation and steady growth that are needed to survive in the market today. We are already a company with a consistent and positive cash flow and have achieved substantial growth in the past few quarters. The funding will primarily be utilised to augment technology and infrastructure to expand services and introduce new products.
Manish Tibrewal, CEO of Tolaram Inc. said,
The Indian start-up landscape has exhibited exceptional growth across industries and we are glad to participate in such a vibrant market with a high-potential healthcare startup. There is an urgent need for drastic improvements in India’s healthcare delivery system and to bring transparency for the patients. Standing true to its name of providing credible healthcare assistance, Credihealth is currently one of the most disruptive healthcare startups in the Indian market, having achieved such phenomenal growth in a very short period of time.
Mountain Pine Capital’s Spokesperson Sasha Breen said,
India currently has one of the most innovative start-up industries in the world. The health-tech sector particularly has been growing rapidly. Credihealth has a robust business model, a consumer-centric approach and is backed by a superior team and tech infrastructure. We are determined to help in developing India’s healthcare industry by helping the company build on its expertise and expand the consumer base with its dynamic offerings.
Credihealth leverages technology to offer complete support for all medical needs of consumers. The company claims to be the only Indian healthcare company to have tie-ups with over 630 hospitals in tier 1 as well as tier 2 geographies and has partnerships with leading names such as Fortis, Medanta, Columbia Asia, BLK, Paras, Artemis, etc. It provides extensive healthcare assistance to patients supporting them in managing all their hospital needs. The Tech Portal had covered Credihealth a couple years back. Have a look at our full feature here.
The company ultimately aims at becoming a health care platform which would not only help in getting information about various hospitals and doctors in the vicinity, but will in fact serve as a friendly companion throughout the treatment and even after that, during rehab through its own teams of various specialists and doctors.
