IvyCap Ventures, an early-stage venture capital firm, has contributed $1.8 Million to the healthcare financing business Icanheal.
The money will go towards expanding regionally, hiring additional staff, investing in technology, and scaling up operations.
The Mumbai-based firm, founded by Girish Poddar and Amit Backliwal, provides customised funding options for healthcare to meet the needs of individual patients.
“Healthcare in India is evolving rapidly and our platform aims to make advanced treatments more affordable and accessible to all patients. This funding will enable us to scale our operations and further our mission of improving healthcare outcomes nationwide,” the founders said in a joint statement.
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Since its founding in 2011, IvyCap Ventures has made investments in about 50 businesses across a variety of industries, including fintech, edtech, consumer tech, health tech, agritech, and spacetech. IvyCap Ventures declared the third fund’s final close at Rs 2,100 crore on April 30. The company intends to invest in roughly 25 early-stage firms using this fund.
Commenting on the investment, Vikram Gupta, founder and managing partner, IvyCap Ventures, said, “Icanheal’s unique approach to improving healthcare affordability through customised financing solutions resonates deeply with our mission. By democratising access to advanced medical treatments and enhancing patient adherence, Icanheal is poised to make a significant impact in the healthcare sector.”
A fintech startup sponsored by Y-Combinator, has entered the medical loan market by acquiring Zenifi, a healthcare finance company. Investors are also showing interest in healthtech firms.
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Peak XV Partners led a $10.5 million fundraising round for Cloudphysician, an online healthcare and technology solutions provider.
Alyve Health, a healthtech business, raised $5.5 million from Axilor Ventures, according to an article published on June 18 by ET.
About Icanheal
Icanheal provides innovative healthcare finance options tailored to specific patients to close this gap. Innovative access initiatives, simple installment payments, and claims reimbursement can enhance patient outcomes by enhancing accessibility and treatment adherence.
