Mumbai, June 18, 2024: Alyve Health, India’s fastest-growing health tech platform, has announced a Series A funding round of $5.5 million. The round was led by Axilor Ventures with participation from 1Crowd Fund, Inhealth Ventures, and venture debt from Trifecta Capital. This funding will drive strategic growth initiatives, platform enhancements, talent acquisition, and service amplification.
Alyve Health offers comprehensive healthcare plans covering doctor consultations, diagnostics, medicines, dental procedures, gym memberships, and proactive well-being. The platform integrates seamlessly with insurers, brokers, clinics, and fitness studios, providing personalized and cashless healthcare experiences to over 1 million members.
Founded in May 2020 by Shashank Avadhani, Sushant Roy, and Vineet Mehta, Alyve Health aims to simplify healthcare coverage. The company has received accolades such as Dun and Bradstreet’s LEAP India Trailblazer and IHW Council’s Healthcare Startup of the Year.
“We are thrilled to secure more fuel for our growth,” said Shashank Avadhani, Co-founder & CEO. “This investment empowers us to continue innovating our product and technology.”
Sushant Roy, Co-founder, CBO & COO, added, “Securing this funding marks a pivotal moment for our company. We thank our members, clients, partners, and investors for their support.”
Vineet Mehta, Co-founder & CTO, emphasized the importance of fortifying their platform with enhanced data, security, and AI capabilities.
Prachi Sinha, Principal at Axilor, noted, “Alyve’s customer-centric approach and tailored OPD services give the company the right to win in a market needing beyond hospitalization benefits.”
Anil Gudibande, Co-founder of 1Crowd Fund, stated, “Alyve Health can redefine health plans, and we are privileged to continue backing this pioneering team.”
Lavanya Bhamidipati, Principal at InHealth Ventures, expressed excitement to support Alyve Health in democratizing healthcare access.
Nilesh Kothari, Co-founder, and Managing Partner of Trifecta Capital, highlighted Alyve Health’s unique positioning to address the rising awareness of insurance and healthcare in India.
Alyve Health serves individuals, employers, and businesses with preventive and medical care services, catering to 400+ corporates and over 1 million users in India. Its mobile app and web portal offer customized health plans, outpatient care, cashless payments, 24/7 doctor consultations, diagnostic scans, annual check-ups, habit coaching, and lifestyle improvement programs.
Alyve Health aims to disrupt traditional healthcare models with a customer-centric approach, leveraging technology and human expertise. Recognizing the vast opportunity in India’s healthcare industry, Alyve Health focuses on simplifying comprehensive healthcare coverage for modern workforces.
The Indian healthcare industry, valued at $370 billion in 2020, is expected to exceed $610 billion by 2026, presenting significant growth potential for Alyve Health.
