Indian healthcare SaaS startups gain investor interest, HealthPlix and SigTuple raised funds

• ByStartupStory     |    March 23, 2023

W Health Ventures, a healthcare-focused venture capital firm, has provided strategic funding of $4 million to Reveal HealthTech, a healthtech SaaS platform. The investment will be utilized by Reveal HealthTech to expand its operations, hire more personnel, enhance its service portfolio, develop its foundational technology capabilities, and grow its customer base.

Reveal HealthTech, a healthtech SaaS platform, has raised $4 million in a strategic funding round from W Health Ventures, a venture capital firm focused on healthcare. The funds will be used to expand operations, recruit talent, develop services, establish a wider customer base, and enhance foundational technology capabilities. 

Reveal HealthTech’s CEO Sanchit Mullick said that W Health Ventures’ expertise and focus on healthtech will help accelerate the company’s journey towards being an industry leader. Pankaj Jethwani, partner at W Health Ventures, praised Reveal HealthTech’s differentiated approach and extensive expertise in technology, healthcare strategy, and care delivery, calling the company an ideal player to drive positive change in the tech-driven healthcare ecosystem.

 

Reveal HealthTech, co-founded by Sanchit Mullick, Salim Afshar, and Andrew Bravo earlier this year, provides engineering and strategy support to global healthcare firms, primarily in the US. Reveal HealthTech’s healthcare expertise enables its clients to create technology solutions without being concerned with outsourcing or complying with local regulations. Its tech team operates mostly from India, and it claims to collaborate with 150,000 Indian engineers who have designed healthcare products for the US market. The firm also states that it works with top-tier tech talent in India and has a significant US-based tech expert pool.

Reveal HealthTech claims that this is W Health Ventures’ first investment in the healthcare technology services sector. The company’s main target market is the US, where it aims to capitalize on the increasing demand for healthcare SaaS offerings. 

Renewed investor interest in Indian healthcare SaaS startups has resulted from the cost-effective alternatives they provide to their US counterparts. Bengaluru-based HealthPlix recently secured $22 Mn in a funding mix, while SigTuple raised $4.3 Mn earlier this month. These are indicative of the Indian enterprisetech ecosystem, which remains dominated by healthcare SaaS. According to a report, the healthcare SaaS market is expected to reach a value of $3.5 Bn by 2025.

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