Glamyo Health raises $3 mn in Series A led by Ananta Capital

The company functions in the area of elective surgeries and claims to have had a 300% surge in business on its platform

Healthcare startup Glamyo Health has raised $3 million in a Series A round led by Ananta Capital and with participation from Agility ventures, Udtara Ventures, We Founder Circle, and Dexter Angels. Others investors include Tej Kapoor (Managing Partner at Fosun), Vivek Gupta and 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.

Since the end of 2019, the brand has raised in total $3.5 million, including the current round.

On the investment 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. In the last three quarters we have witnessed 300 percentage surge in the business on our platform. Besides we have also grown 3x in a number of cities in the past three months.”

The company currently has presence in 10 cities such as Mumbai, Bengaluru, Hyderabad and Pune, and also Tier-2 cities like Indore, Bhubaneshwar, Chandigarh and Patna. Glamyo team has plans to scale up in 20-plus cities in the next six months.  

“We have grown with a monthly CAGR of about 35 per cent in the past 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, 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

“We really liked the passion, vision and execution of Archit and Preet, as Glamyo has built its hospital network in 250-plus 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 Lovkesh Kapoor, Managing Partner, Ananta Capital.

"In this Covid era, Glamyo has used technology to deliver personalised patient care. We're confident that in the times to come, Glamyo will be a leading consumer-centric elective surgery provider in India,” said Prashant Narang, co-founder, Agility Ventures.

“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 per cent-plus  month-on-month. We are sure Glamyo will soon grab a significant market share in the fragmented healthcare infrastructure and services category, driving larger benefits to its consumers” said Ankit Lakhotia, Partner, Udtara Ventures.