Mumbai-based digital therapeutics startup Wellthy Therapeutics said it has raised $4 million (around ₹30 crore) from Saama Capital, as part of its Pre-Series A round, for a 16% stake in the company.
Wellthy Therapeutics will use the funds to enhance product suite, for international expansion of its business and to expand into newer therapy areas.
Founded in 2015 by Abhishek Shah, Prayat Shah and Aradh Pillai, Wellthy Therapeutics works with leading insurance, pharmaceutical, medical device companies and large hospital systems to deliver clinically-validated digital therapies that improve the health outcomes and quality of life of those with a chronic condition.
“The success of our initial commercial launch inspires us to invest deeper into clinical validation, product and distribution. The funding will allow us to invest further into improving patient outcomes and generate further real world evidence, while expanding our therapeutic portfolio, geographic and stakeholder reach.” says Abhishek Shah, CEO and Co-founder of Wellthy Therapeutics.
Apart from utilising this raise to deepen its product-suite and expand geographically, the company will accelerate the launch of its respiratory digital therapeutic portfolio, which is especially relevant in the current situation.
“Wellthy Therapeutics is bringing technology enabled, affordable digital therapeutics to make patient outcomes more accessible. The company uniquely combines real world evidence with clinically validated care pathways, to deliver its digital therapeutics across multiple therapeutic areas, via leading enterprise partners in healthcare, to patients in multiple countries,” Suresh Shanmugham, managing partner at Saama Capital.
Wellthy Therapeutics raised ₹13.5 crore as part of its seed funding in March 2018, led by GrowX Ventures and the Ranjan Pai’s (Manipal) Family Office, along with participation from Beenext Ventures, Currae Healthtech fund and other strategic HNI investors.
In February, 2019, Cipla Limited participated as an extension to the seed round and invested ₹10.5 crore for almost 12% stake in the company.
