The funds will be used to scale operations, recruit more employees, invest in technology, and expand geographically.
“This investment aims to bolster Icanheal’s platform, enhancing its capabilities to cater to millions of patients, particularly those facing critical care diseases like cancer, by providing customised healthcare financing solutions,” the company said.
Founded by Girish Poddar and Amit Backliwal, the Mumbai-based startup offers healthcare financing solutions tailored to each patient’s needs.
“Healthcare in India is evolving rapidly and our platform aims to make advanced treatments more affordable and accessible to all patients. This funding will enable us to scale our operations and further our mission of improving healthcare outcomes nationwide,” the founders said in a joint statement.
Commenting on the investment, Vikram Gupta, founder and managing partner, IvyCap Ventures, said, “Icanheal’s unique approach to improving healthcare affordability through customised financing solutions resonates deeply with our mission. By democratising access to advanced medical treatments and enhancing patient adherence, Icanheal is poised to make a significant impact in the healthcare sector.”
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Gupta will be joining the startup’s board.Founded in 2011, IvyCap Ventures has invested in around 50 companies spanning sectors such as healthtech, consumer tech, deeptech, fintech, edtech, agritech and spacetech. On April 30, IvyCap Ventures announced the final close of its third fund at Rs 2,100 crore. Through this fund, the firm plans to invest in about 25 early-stage startups.
On May 29, ET reported that Y-Combinator-backed fintech startup BharatX acquired healthcare finance firm Zenifi, marking its entry into the medical lending segment.
Healthtech startups are also seeing interest from investors.
On June 25, Cloudphysician, an online healthcare and technology solutions provider, raised $10.5 million in a funding round led by Peak XV Partners.
On June 18, ET reported that Healthtech startup Alyve Health raised $5.5 million from Axilor Ventures, with participation from existing investor 1Crowd Fund as well as healthcare-focused fund Inhealth Ventures.
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