Startup Ayu Health raises $6.3 mn in funding for expanding services

Ayu Health, a startup in health technology, has raised $6.3 million in funding that it will use for improving services at hospitals.

Ayu got the Series A financing from Vertex Ventures and Stellaris Venture Partners. The round also saw participation from angel investors Varun Alagh (of Mamaearth); Ashish Gupta (Helion) and Rajat Goel (EyeQ Hospitals).

Ayu Health was found in in 2019 to work with more than 20 hospitals in Chandigarh and Bengaluru. The company said it enables its network hospitals with technology to maintain clinical standards and serve patients at an affordable cost.

This fund infusion will help Ayu expand its hospital network and build new technology solutions to enable insurance processing, efficient procurement and clinical quality management at network hospitals. Ayu Health expects to grow its business ten fold in FY22 and expand its bed capacity to 5000+ beds in six cities by December 2022, said the company in a statement.

“Our partner hospitals use our technology platform to improve clinical quality, procure medicines and consumables, and process insurance claims,” said Himesh Joshi, co-founder at Ayu Health.

Ayu was co-founded by Joshi, Arjit Gupta and Karan Gupta: a trio that previously founded used-goods marketplace Zefo.

Ritesh Banglani, Partner at Stellaris Venture Partners said, “We have partnered with Himesh, Karan and Arjit previously when they were running Zefo, and have a very high regard for their capabilities.”

Piyush Kharbanda, Partner at Vertex Ventures Southeast Asia and India said, “At Vertex, we are continuously looking for ways in which technology can drive efficiencies in healthcare.”