The Series B funding round led by The Fundmentum Partnership led to the funding of Ayu Health Hospitals.
Ayu Health, a healthcare startup, has a network of over 70 hospitals in India. In the series B funding, an early growth stage fund founded by Nandan Nilekani and Sajeev Aggarwal, they raised $27 million.
This round also saw participation from some prominent investors. It saw the participation of US-based fund 57 stars, Rohit MA led Capier Investments and also different Angel investors. Some of them included Ashish Gupta, Khadim Batti, and Vara Kumar.
The funding also saw an active participation of existing investors, including Stellaris Venture Partners, Vertex Ventures and Alteria Capital.
With the fundraising, Prateek Jain of Fundamentum Partnership will also are joining the Health Board of Ayu.
Ayu Health was founded in 2019 by Himesh Joshi, Arjit Gupta and Karan Gupta, who sold their previous firm Zefo to Quickr. Ayu Health aims to acquire various speciality hospitals and rebrand them to create an entire network of hospitals.
The new funding round
In September, Ayu Health had already raised a Series A funding of $6.3 million from Vertex Ventures and Stellaris Venture Partners. They have bagged the series B funding in less than a year.
We have also seen an investment in the healthcare startup of PharmEasy from Fundamentum Partnership.
The funds raised from the fresh round of the investments will be used to expand Ayu Health’s hospital network. It will also be used to develop more innovative technological solutions for better patient experience. Also to offer efficient procurement and insurance processing.
The funding is also going to be aimed at clinical quality management of the hospitals. Seeing an addition of over 4,000 plus beds in multiple locations across India. The organisation is now set to become one of the largest hospital chains in the country by the end of 2022.
The startup currently works with over 70 hospitals that are distributed across Bengaluru, Chandigarh, NCR, and Jaipur.
What the Co-founder said
Himesh Joshi, the Co-founder, and CEO of Ayu Health quoted,
“We started Ayu Health in 2019 with a mission to build India’s most trusted hospital chain. Promising high quality patient outcomes, transparency on pricing, and world-class patient experience. With the support from new and existing investors, we are now well-positioned to take this model to more geographies, and are targeting a network of over 200 hospitals and 10,000 beds by Dec 2022 ensuring high quality healthcare for all.”
The startup is looking for a 10X growth by the end of 2022.
Arjit Gupta, Co-founder, and CTO of Ayi Health, say, “Tech hasn’t created a meaningful dent in the healthcare space so far, especially in-hospital care. We are focused on changing that,”
Prateek Jain, Principal of Fundamentim Partnership, said. “The last two years have demonstrated an urgent need for tech-driven disruption in the healthcare space in order to build solutions that can provide efficient, affordable, and quality care. Looking at the journey of Ayu Health in the last few years, it has the capability and capacity to address significant gaps in clinical care, in-hospital experience, and pricing for patients in India.”