Glamyo Health Raises USD 3 Million in Series A
On the investment Mr. Archit Garg, Co-Founder at Glamyo Health said “Due to the pandemic, there has been a huge backlog of elective surgeries. The lack of quality healthcare professionals and facilities is also a challenge in India. At Glamyo Health, we are bridging the Gap by keeping quality at core"
Glamyo Health, an Asset Light healthcare start-up operating in the field of elective surgeries has raised USD 3 Mn in Series A. The start-up has raised the round from an array of esteemed investors and led by Ananta Capital and participation from Agility ventures, Udtara Ventures, We Founder Circle, Dexter Angels, Tej Kapoor - Managing Partner at Fosun, Vivek Gupta & Abhay Hanjura - Founders of Licious, Dhruv Kapoor - Partner at Sistema, Aditya Singh – Principal at Stride VC, Ayush Jain – Leading South India for AWS and others. Started in end 2019 the brand has raised in total USD 3.5 Mn Including the current round.
On the investment Mr. Archit Garg, Co-Founder at Glamyo Health said “Due to the pandemic, there has been a huge backlog of elective surgeries. Lack of quality healthcare professionals and facilities is also a challenge in India. At Glamyo Health, we are bridging the Gap with keeping quality at core. In the last three quarters we have witnessed 300% percentage surge in the business through our platform. Besides we have also grown 3x in Number of Cities in the last 3 months.”
“We have grown with a monthly CAGR of ~ 35% in the last 18 months. The key reason for this growth is that we keep the patient at the centre of all our offerings. Surgical care in India is riddled with challenges like price opacity, even pricing shocks, friction in patient experience - just to name a few. Glamyo Health is essentially solving this trust deficit” said Dr Preet Pal Thakur, Co-Founder at Glamyo Health
“At Ananta we like to partner with founders who are chasing large market opportunities and building strong businesses with fundamental economics intact. We really liked the passion, vision and execution of Archit and Preet, as Glamyo has built its hospital network in 250 + Pin Codes in 10 cities. It is a big achievement for the 1.5-year-old start-up as many asset heavy players in the industry still do not have such a diverse presence” said Mr. Lovkesh Kapoor, Managing Partner at Ananta Capital.
"In this covid era, Glamyo has used technology to deliver personalized patient care. We're confident that in the times to come, Glamyo will be a leading consumer-centric elective surgery provider in India,” Mr. Prashant Narang, Co-founder, Agility Ventures.
On the investment Mr. Neeraj Tyagi, Co-Founder, We Founder Circle said "Elective surgery market in India remained unexplored for a long time. Glamyo Healthcare comes with great technology, surgeon network and professionals to provide the latest and finest treatment to the audience. Given the fact that after a long time the field is getting disrupted, the scope is huge and thus it makes for a good investment."
“Glamyo health has disrupted the healthcare industry with its asset light infrastructure and highly capital efficient business model, enabling the company to grow @ 40%+ month on month. We are sure that Glamyo will soon grab a significant market share in the fragmented healthcare infrastructure and services category, driving larger benefits to its consumers” said Mr. Ankit Lakhotia, Partner - Udtara Ventures.
The company currently has presence in 10 cities which includes Mumbai, Bangalore, Hyderabad, Pune and also Tier 2 cities like Indore, Bhubaneshwar, Chandigarh & Patna. Glamyo team has plans to scale up in 20+ cities in the next 6 months.
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