Rajiv Dadlani Group and Blume Ventures provide HealthAssure with Rs50 crore

26 Aug 2022 , 08:43 AM

On August 25, the Rajiv Dadlani Collection, a group of angel investors, led a pre-series B investment round for the health tech firm HealthAssure, which raised Rs50 crore (about $6.2 million). The venture capital company Blume Ventures, the US-based impact fund Leo Capital, family offices, and high-net-worth individuals also participated in the round.

The firm stated in a statement that it plans to use this money to improve its product, enhance distribution, hone its outpatient department (OPD) insurance network, and invest in cutting-edge primary healthcare technologies. Additionally, HealthAssure stated that during the next three years, it plans to generate ten times its present income.

HealthAssure, a health-tech firm founded in 2011 by Varun Gera, claims to have serviced more than three million clients. It aggregates primary healthcare services and OPD insurance.

The faith that our current and future investors have in our distinctive business strategy and the potential of the sizable healthcare sector is demonstrated by the fact that we raised our largest round to date in such challenging market conditions. This encourages us to strengthen our market-leading position, take advantage of the opportunity, and further develop our assets. Gera, who is also the CEO of HealthAssure, stated, “We would want to thank our newest supporters and Blume for being part of our wonderful startup experience.

According to HealthAssure, it operates in 1,200 cities and has had year-over-year revenue growth of double. The business has so far raised Rs220 crores through its prior fundraising rounds. It also bought the fitness company FitMeIn in 2020.

The company claimed to have a number of business lines that cater to the primary care requirements of insurers like Life Insurance Corporation (LIC), State Bank of India (SBI) Life, and others. Additionally, it claimed to offer employee health insurance to a number of prestigious corporations, including GE, Deloitte, Deutsche Bank, and others.

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