Ayu Health Hospitals has raised $27 million in its Series-B funding round, led by The Fundamentum Partnership.
The funding round saw participation from 57 Stars, Capier Investments and angel investors including Ashish Gupta, Khadim Batti and Vara Kumar. Existing investors Stellaris Venture Partners, Vertex Ventures and Alteria Capital also participated.
The company said it would use the funds to expand its hospital network and develop innovative technological solutions for patient experience, insurance processing, efficient procurement, and clinical quality management at network hospitals. The startup eyes 10X growth by the end of 2022. Ayu Health had raised $6.3 million in its Series-A round from Vertex Ventures and Stellaris Venture Partners in September 2021.
“With the addition of 4,000-plus beds in multiple locations across India, the organisation is set to become the largest hospital chain in the country by the end of 2022,” the company said in a press release.
Founded in 2019 by Himesh Joshi, Arjit Gupta and Karan Gupta, Ayu Health is a network of hospitals offering advanced treatments. It currently works with more than 70 hospitals across Bengaluru, Chandigarh, the National Capital Region and Jaipur, serving over 2,000 patients every day.
Himesh Joshi, Co-founder and CEO of Ayu Health, said,
“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.”
“Tech hasn’t created a meaningful dent in the healthcare space so far, especially in-hospital care. We are focused on changing that,” added Arjit Gupta, Co-founder and CTO at Ayu Health.
Prateek Jain, Principal at Fundamentum 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.”