HealthAssure, a health-tech startup that integrates primary healthcare services and OPD insurance, has raised Rs 50 crore ($6.2 million) in a pre-Series B funding round led by Rajiv Dadlani Group.
Blume Ventures and Leo Capital, a US-based Impact Fund, reputed family offices, and high net-worth individuals participated in the round.
The company plans to use the funds to develop products and strengthen its distribution network and the OPD insurance network. The startup will also invest in building its primary healthcare technology.
HealthAssure said it is targeting the $40 billion OPD and insurance market in India by “productizing” the HMO ecosystem of primary care it has developed over the last ten years in 1,200 cities, acknowledging that insurance in India does not cover day-to-day life.
Founded in 2011 by Varun Gera, HealthAssure claims to be the first company to launch innovative insurance-underwritten OPD products. In 2019, the health-tech startup had raised $2.5 million in funding from Blume Ventures.
In 2019, HealthAssure secured $2.5 Mn Series A funding from Blume Ventures. Prior to this, it received $1 million from The HR Fund in 2018.
As per a report, the country’s health-tech industry is projected to become a $21.3 Bn market, growing at a CAGR of 39.6% by 2025.
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