Healthtech startup hav. secures $400K in funds led by US-based StartUp Health
- ByStartupStory | July 1, 2022
The rewards-based health tech platform hav., which has been operating covertly, has formally begun operations. In a round that was dominated by US-based VC StartUp Health, the company has raised $400,000. To increase the user base and reach PMF, the funds raised will be put to use.
Famous angel investors also participated in the round, including Navio Group Chairman Sudheer Nair, Chargebee Ex-Board Member Vijay Seshadri, Oracle Ex-Divisional CIO Sudi Navile, Freshworks Ex-Co-Founder Shihab Muhammed, Dentsu Indonesia Board Member Rahul Nambiar, PayPal Ex-Board Member Stan Kuruvilla, Samagra CEO Madhu Bhaskaran, NeoITO CEO Faiz Mohamed Hanee (IAS).
Abdul Paravengal, co-founder and CEO of hav. said, “Due to high CAC and a perceived lack of a monetisation route, preventative care for the masses in emerging countries was clearly a market with few large players. However, if well executed, this segment has the potential to have a significant impact. With our distinctive insights, mission-first mindset, and frugal approach, we appear to be well-positioned to deliver this.”
The future of health innovation is just beginning. It is equally important to get them into the world, regardless of geography or economics. A free app called hav. was created in 2021 to assist 20 to 40-year-olds from middle-class and lower socioeconomic backgrounds in lowering their risk of developing lifestyle-related diseases.
The firm officially began operations in India with co-branded cards in collaboration with Pine Labs and RuPay that enable users to accrue extra coins for their purchases and convert those coins into cash. According to hav., 1 million downloads have already been recorded in Indonesia and India.
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