Venture Vultures

Mayank, Alessandro and I started Even with a vision of building India’s leading integrated healthcare solution. We truly believe healthcare should be proactive, preventive and comprehensive. In the last 12 months, we have grown to hundreds of thousands of members with our B2C and B2B offerings, strengthened our network of doctors and Even Clinics, and enhanced our technology stack. In the coming months, with the new funding, while our focus remains on scaling our offerings and continuously improving our member experience, we will also take the big step of launching Even Hospitals, starting with Bengaluru. This will ensure we complete the full paradigm of care that we set out to build for when we started on this journey. Today, we want to thank our investors for their continued faith and support and our incredible team that makes it all possible.

🔴 Deepinder Goyal Ventures into HealthTech 🔵 ℹ Zomato Co-Founder and CEO, Deepinder Goyal, has incorporated a new startup named Continue, with a focus on health tracking and mental wellness. ▶ According to a report by Moneycontrol, the startup aims to position itself as "The Ultimate Health Tracker," though it remains in stealth mode, with limited public information available. ▶ Incorporated in April 2023 under the name Upslope Advisors Pvt Ltd, filings with the Ministry Of Corporate Affairs list Goyal as Director, alongside two Zomato employees, Akriti Mehta and Simrandeep Singh, who are named as Additional Directors. ▶ While specific features of the platform have yet to be disclosed, it is expected to focus on key areas such as nutrition tracking, sleep monitoring, and preventive healthcare. ▶ Notably, Goyal is already an investor in Ultrahuman, a wearable tech startup that tracks vital health metrics like sleep and heart rate. 🚨 Zomato has clarified that "Continue" is a personal venture of Goyal, independent of his role at the company. 🔽 Check out the article below (posted by moneycontrol.com) to learn more! https://lnkd.in/eFMAamip #FlyHigh with #VentureVultures #IndiaPE #IndiaVC #Healthcare #HealthTech #Startups #PE #VC

🔓 Unlocking The Future Of Indian Healthcare - Top HealthTech Startups 🔓 ℹ When the global pandemic stretched India’s public healthcare system too thin, healthtech startups rose to the challenge and bridged a critical gap by bringing affordability, accessibility, and innovation into the fold. Prior to this, India’s primary care was riddled with challenges like – lack of preventive care, lack of healthcare infrastructure (specially in rural areas), and an acute shortage of doctors and nurses. But with startups revolutionising the healthcare sector that scenario is now changing for good. ℹ The number of Department for Promotion of Industry and Internal Trade -recognised healthtech startups in India grew at a CAGR of 127% between 2016 and 2023, with over 10,000 startups as of 2023. Interestingly, 47% of these startups are from tier 2 and tier 3 cities, showcasing a widespread geographical presence. According to a report from Boston Consulting Group (BCG), India’s healthcare market could generate $37 billion in revenue by 2030. ❓So What’s Causing The Rise of HealthTech Startups in India❓ ▶ Growing Popularity Of Telemedicine ▶ Investment & Support ▶ Patient Centric Care ✨ Here's a list of the 10 most notable startups in the healthcare space - Tata 1mg, HealthifyMe App, Onsurity, MediBuddy, HealthKart, Pristyn Care, Practo, Netmeds.com, Innovaccer, & Docplexus ✨ 🔽 Check out the article below (posted by Onsurity) to learn more about the above listed startups and dive deeper into the sector's drivers! https://lnkd.in/engTHDDF #FlyHigh with #VentureVultures #IndiaPE #IndiaVC #Healthcare #HealthTech #PE #VC

🇮🇳 SEBI Approves Joint Venture Of Jio Financial & Blackrock 🌑 ▶ Jio Financial Services, the de-merged financial services entity of Mukesh Ambani-led Reliance Industries Limited is set to enter India's flourishing mutual fund industry. On October 3rd, 2024, Jio Financial Services received Securities and Exchange Board of India (SEBI)'s in-principle approval to co-sponsor and set up mutual fund business with BlackRock as its 50:50 joint venture partner. ▶ The joint venture, to be known as Jio BlackRock, will entail an initial investment of US$ 150 million each from Jio Financial Services and BlackRock. ▶ Backed by Reliance's enormous capital and Jio's vast distribution network and massive consumer base from its telecom and retail businesses, Jio BlackRock can easily cross-sell investment products such as mutual funds and insurance to existing users. It can also benefit from the decades of asset management expertise of BlackRock. However, this may not necessarily result in market disruption. ▶ To become a significant player in the mutual fund industry Jio BlackRock will have to establish a credible and trustworthy track of superior performance in the coming years with well-established investment processes and risk-management techniques in place. Ultimately, it is the returns and risk mitigation strategies that decide the success of a fund house. 🔽 Read the article below (posted by PersonalFN - Mutual Fund Research & Financial Planning and contributed by Divya Grover) to learn more! https://lnkd.in/en4eSqtH #FlyHigh with #VentureVultures #IndiaPE #IndiaVC #FinancialServices #Finance #FinTech #PE #VC

🥚 IVF Healthcare Provider Secures Growth Funding 🥚 ℹ A4 Hospitals and Fertility Centre, founded by Dr. Aruna Ashok & Dr. Ashok Kumar, covers the entire fertility journey, from IVF treatments to maternity and perinatal care. Currently operating in eight centres, the hospital chain aims to expand its footprint further, bringing advanced fertility treatments across South India. ▶ Tamil Nadu based A4 Hospitals has raised growth capital funding from 360 ONE’s healthcare and life sciences-focused Healthcare Opportunities Fund ▶ A4 Hospitals, will use the funds to expand its operations across southern India over the next few years, the company stated in its release. 🔽 Check out the article below (posted by YourStory Media and contributed by Trisha Medhi) to learn more! https://lnkd.in/e2YffGiv #FlyHigh with #VentureVultures #IndiaPE #IndiaVC #Healthcare #PE #VC

🌍 Africa-Focused PE Firm Leads Funding In India's M2P Fintech 🇮🇳 ▶ Indian banking technology infrastructure provider M2P Fintech has closed its Series D financing, raising Rs 850 crore ($102 million) in a mix of primary and secondary capital, led by Africa-focused private equity firm Helios Investment Partners. The round also saw participation from marquee banks across Asia, with existing investor Flourish Ventures doubling down on the company. ▶ Chennai-headquartered M2P Fintech plans to use the funds to improve market leadership in India, besides helping grow its international franchise, particularly in Africa. It also plans to accelerate its growth by improving its technology stack, focusing on leveraging artificial intelligence and building out advanced data capabilities. It believes that investments in these areas will also help it scale its partnerships with financial institutions. ▶ Founded in 2014 by Madhusudanan R, Muthukumar A, and Prabhu Rangarajan, M2P Fintech started as an API infrastructure company. It later turned into a banking-as-a-service company and formed partnerships with banks, lenders, fintech, and consumer technology companies. 🔽 Read the article below (posted by VCCircle and contributed by Aman Rawat) to learn more! https://lnkd.in/gEwe7Y6S #FlyHigh with #VentureVultures #IndiaPE #IndiaVC #Finance #Banking #FinTech #PE #VC

🏥 India’s rapidly evolving healthcare startup ecosystem 🏥 Key Themes: ▶ Vertically Integrated, Omnichannel Solutions: In early 2024, 24 single-therapy-focused companies raised $183M, driving holistic patient care and better LTV/CAC for startups. ▶ India for the World: GenAI is poised to drive innovation in India-US and global healthcare corridors, focusing on healthcare operations, patient experience, and clinical care enablement. ▶ Funding Trends: Post-2021 slowdowns are prompting startups to build sustainable, scalable business models over rapid growth fueled by external capital. The enterprising cohort of start-ups in India is on the rise as the healthcare entrepreneurial ecosystem is committed to creating a better future for the millions in our nation. Venture studios like 2070 Health have been fortifying India's healthcare start-up ecosystem, by driving the operational framework from ideation to growth. Backed by their extensive research support, and their in-house product development expertise they have impacted many profitable start-ups, especially in the fields of pain management, diabetes, oncology and AI-driven health technologies. In a recent interview with IndiaMedToday, 2070 Health's CEO, Pankaj Jethwani, MD MBA shares invaluable insights on this evolving landscape. ⬇ Visit the link below to read the article (by Sonali Patranabish) and learn more! https://lnkd.in/gfYE5wmb #FlyHigh with #VentureVultures #IndiaPE #IndiaVC #Healthcare #HealthTech #MedTech #VentureStudios

💳 Global Fintech Fest 2024: 5 Key Takeaways From PM Modi’s Address On India’s FinTech Boom And Global Impact 💳 ℹ The Global Fintech Fest, a 3-day event, from 28th to 30th August 2024, is one of the largest FinTech conferences, organised annually by the Payments Council of India (PCI), the National Payments Corporation Of India (NPCI), and the Fintech Convergence Council (FCC). Key Highlights of PM Modi's Speech at GFF: ▶ India’s Fintech Boom: During his address, PM Modi praised the transformative journey of India’s FinTech industry, which has seen a staggering 500% growth in the past decade. He also added that this success is attributed to the accessibility of cheap data, widespread use of mobile phones, and the introduction of zero-balance Jan Dhan bank accounts. ▶ Investment and Impact: The Prime Minister also added that over USD 31 billion has been invested in the country's FinTech industry over the last decade. It has not only fuelled the growth of startups but also positioned India as a global leader in the financial technology, he added. ▶ Pradhan Mantri MUDRA Yojana: Another key feature his speech was the success of the Pradhan Mantri MUDRA Yojana (PMMY). Adding to it, he said that loans worth Rs 27 lakh crore have been disbursed under the scheme, with 70% of the beneficiaries being women. ▶ Global Reach of India’s Fintech Products: He also in his speech pointed out the influence of India's FinTech solutions in the global market, especially the Unified Payments Interface (UPI), which became one of the global benchmarks of digital payments. Setting an example for other nations, he added that even during the pandemic period, India's banking section continued to function smoothly. ▶ Policy Support and the Future of FinTech: Lauding the commitment of his government to supporting the FinTech sector, PM Modi added the announcement of the abolition of the Angel Tax to foster innovation. He also in his speech highlighted the importance of challenges posed by Artificial Intelligence. Furthermore, he also addressed the importance of digital literacy and also the need to combat cyber fraud to have sustainable development in the FinTech sector. 🔽 Read the article below (posted by ET NOW and contributed by Sarmeeli Mallick) to learn more! https://lnkd.in/dwWX-WgR #FlyHigh with #VentureVultures #IndiaPE #IndiaVC #GlobalFintechFest #GFF2024 #Finance #FinTech #PE #VC

❌ Kenko Health Folds: Financial Woes & Licensing Issues Lead To Shutdown ❌ ℹ Mumbai-based Healthcare startup, Kenko Health, which raised over $13.7 million across three funding rounds from key investors such as Peak XV Partners, Orios Venture Partners and BEENEXT, was once valued at approximately $60 million. Key Factors Leading to Closure: 1️⃣ Financial Difficulties: ▶ Cash Crunch: Kenko Health ran out of funds and failed to secure additional equity capital. ▶ Legal Action: The startup faced legal proceedings by a debt investor at the National Company Law Tribunal (NCLT). 2️⃣ Regulatory Challenges: ▶ Insurance License: Kenko Health was unable to obtain the necessary insurance license from RDAl, crucial for its planned insurtech operations. 3️⃣ Operational Shutdown: ▶ Office Closures: Kenko Health's offices in Bengaluru and Mumbai have been shut down. ▶ Communication Breakdown: The startup's website and other communication channels are currently unresponsive. 🔽 Read the article below (posted by moneycontrol.com and contributed by Naina Sood & Preeti Kulkarni) to learn more! https://lnkd.in/dpFX2NmY #FlyHigh with #VentureVultures #IndiaPE #IndiaVC #Healthcare #HealthTech #InsurTech #PE #VC

🏦 TransBnk Raises $4 Million In Series A Round 🏦 ▶ Banking solutions fintech TransBnk - Transaction Banking Platform raised $4 million in Series A funding led by early-stage venture capital fund 8i Ventures. The round was co-led by Accion Venture Lab, a global impact investor backing early-stage fintech startups, along with participation from GMO VenturePartners,Inc., Ratio Ventures Limited, Force Ventures LLP, and a group of family offices, institutions, and angel investors. ▶ Founded by Vaibhav Tambe, Lavin Kotian, Pulak Jain, and Sachin Gupta, TransBnk is a Transaction Banking Platform enabling Corporate, Commercial & Institutional clients to make agile, secure & robust Transactions with Embedded Finance & SaaS. ▶ The company plans to use the recently raised funds for the expansion of banking partners’ networks. It plans to expand into the Middle Eastern and Southeast Asian markets. It also plans to strengthen its tech infrastructure and developments to improve its product stack. 🔽 Read the article below (posted by Business Standard and contributed by Ajinkya K.) to learn more! https://lnkd.in/gAXeq2vG #FlyHigh with #VentureVultures #IndiaPE #IndiaVC #BFSI #Finance #FinTech #PE #VC