Healthtech Platform: BeatO raises Rs 27 Cr in debt via existing members
- ByStartupStory | April 29, 2022
BeatO, the Delhi-NCR based healthtech platform, has raised convertible debt of Rs 27 crore from their existing investors.
At issue price of Rs 1350 per debentures, the company has passed a special resolution to allot 1,99,538 Series A CCD in order to raise 27 crore or $3.6 million.
With 11.25 crore, the debt round is led by W Health Global LLC, followed by Sage Hill Investors and Kotak Investments with 3.75 crore and Rs 5 crore respectively.
About 13.40% will be held by W Health Global LLC post preferential issue, whereas post allotment percentage will be of about 1.80% and 1.35% of Kotak and Sage Hill respectively.
BeatO founded by Gautam Chopra, Yash Sehgal, and Abhishek Kumar, provides a full-stack diabetes management programme that helps the user manage exercising, medicine intake, diet, and diagnosis, and for instant real-time guidance connects the users with doctors and diabetes educators.
The startup claims to have paid members of about 300,000 on its platform, adding around 25,000 members every month.
In its pre-Series B round led by W Health Ventures, BeatO has raised Rs 42 crore in July last year.
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