Healthcare-based fintech startup Icanheal has secured funds worth Rs 15 crore from early-stage venture capital firm IvyCap Ventures.
These funds will be utilized to expand operations and geographically, employee recruitment, and invest in technology.
Founded by Girish Poddar and Amit Backliwal, the Mumbai-based startup provides customized healthcare financing solutions. The founders stated in a joint statement that the platform’s goal is to make healthcare more accessible and affordable in India.
IvyCap Ventures closed its third fund at Rs 2,100 crore, through which it plans to invest in 25 early-stage startups. The VC firm has invested in around 50 companies across the sectors of fintech, deep-tech, health-tech, space-tech, ed-tech, and agri-tech since its inception in 2011.
Vikram Gupta, founder and managing partner at IvyCap Ventures, who is set to join the startup’s board, commented, “Icanheal’s unique approach to improving healthcare affordability through customized financing solutions resonates deeply with our mission. By democratizing access to advanced medical treatments and enhancing patient adherence, Icanheal is poised to make a significant impact in the healthcare sector.”
Healthcare startups have witnessed a rise in fundings, with Cloudphysician raising $10.5 million led by Peak XV Partners, and Alyve Health securing $5.5 million from Axilor Ventures, existing investor 1Crowd Fund as Inhealth Ventures, both coming in June. Y-Combinator-backed fintech BharatX also made an entrance to the healthcare funding sector by acquiring healthcare finance firm Zenifi in May.
