Health-tech Startup Ayu Health Raises $21 Million From Fundamentum Partnership

• ByStartupStory     |    April 28, 2022

Bengaluru-based health tech startup Ayu Health is raising USD 21 Million in its Series B round of funding. Nandan Nilekani’s Fundamentum Partnership is leading the new investment round. The funding will also see participation from, Vertex Ventures, Stellaris Venture Partners, Capier Investments, Waao Partners, among others.

With this investment, the Fundamentum Partnership will hold a 17.91 percent stake on a fully diluted basis in Ayu. Angel investors such as Hemant Jodha, Khadim Batti, and Ashish Gupta, will also participate in the round.

In the general meeting, held on April 23, the startup decided to allot 65,029 Series B compulsory convertible preference shares and ten equity shares to 13 of its investors to raise USD 21 Million (Rs 160.6 Crore).

The fresh development comes nearly 8 months after Ayu Health raised $6.3 Million in a Series A round. Earlier, the funding round was led by Stellaris Venture Partners and Vertex Ventures.

The round also saw participation from angel investors, including Helion’s Ashish Gupta, Mamaearth’s Varun Alagh and EyeQ Hospitals’ Rajat Goel, among others.

Ayu health was founded in 2020 by Himesh Joshi, Karan Gupta, and Arjit Gupta and at present has a chain of 20 hospitals with 1000 plus beds in Bengaluru and Chandigarh. Ayu health claims that its proprietary tech allows hospitals to serve patients at lower rates and maintain high medical quality standards.

The Indian health tech market is currently estimated to reach USD 21 Billion by the year 2025, which is just 3.3 percent of the total addressable healthcare market, pegged to reach USD 638 Billion in 2025.

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