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Glamyo Health, a Delhi based Asset Light healthcare startup operating in the field of elective surgeries has raised $3 million in Series A round funding led by Ananta Capital.
The round also saw the 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 including others.
Started at the end of 2019 the brand has raised in total USD 3.5 Mn Including the current round.
Speaking on the investment, 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 the core. In the last three quarters, we have witnessed a 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 center of all our offerings. Surgical care in India is riddled with challenges like price opacity, even pricing shocks, friction inpatient experience – just to name a few. Glamyo Health is essentially solving this trust deficit” Dr. Preet Pal Thakur, Co-Founder at Glamyo Health added.
Commenting on the investment in Glamyo, Lovkesh Kapoor, Managing Partner at Ananta Capital said, “At Ananta, we like to partner with founders who are chasing large market opportunities and building strong businesses with fundamental economics intact. We 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.”
“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,” Prashant Narang, Co-founder, Agility Ventures added.
Further talking about the funding, Ankit Lakhotia, Partner at Udtara Ventures, said, “Glamyo health has disrupted the healthcare industry with its asset-light infrastructure and highly capital-efficient business model, enabling the company to grow at 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.”