WatchYourHealth (WYH), a promising healthtech startup, has successfully raised $2.2 million in funding from Conquest Global Ventures. The investment marks a significant milestone for WYH as it seeks to drive innovation, expand globally, and revolutionize consumer engagement in the healthcare industry.
Founded in 2015 by Ratheesh Nair, WatchYourHealth offers customer engagement services to healthcare delivery and financing businesses through its SaaS platform, adopting a phygital (physical and digital) approach. With this recent infusion of capital, WYH is poised to embark on the next phase of growth and expansion.
The newly acquired funds will be utilized to fuel various growth initiatives, including product development, geographical expansion, sales and marketing efforts, office spaces, and inventory enhancement. WYH aims to shape the future of consumer engagement in the healthcare industry through its integrated B2B SaaS platform and B2C marketplace.
What sets WYH apart is its notable achievement of profitability in the fiscal years 2021 and 2022, even as a bootstrapped entity. This track record demonstrates the startup’s ability to navigate the competitive healthcare landscape effectively.
Founder Ratheesh Nair expressed his excitement about the startup’s growth plans, stating, “As we surpassed the milestone of 10 million users on our SaaS platform at the beginning of FY24, we recognized the need to strengthen our product offerings and expand into similar geographies worldwide.” Nair further revealed WYH’s intentions to extend operations beyond India and target key markets such as Japan, Singapore, UAE, Indonesia, and Bangladesh.
The Indian healthcare market presents significant opportunities for both startups and established players due to the country’s large population. Despite regulatory measures and funding challenges faced by e-pharmacies, healthtech startups continue to gain prominence and attract investments.
In a recent development within the industry, WYH’s competitor Mykare secured $2.01 million in seed funding to enhance the patient experience. Additionally, Karma Primary Healthcare raised an undisclosed amount in a Series A funding round to increase awareness, promote preventive healthcare, improve supply chain efficiencies, and enhance curative service delivery. Meanwhile, HealthifyMe, a leading player in the healthtech sector, recently concluded its Pre-Series D funding round, securing an impressive $30 million.
The influx of investments into healthtech startups reflects the growing demand for innovative solutions and digital platforms within the healthcare industry. These companies are well-positioned to transform the way consumers engage with healthcare services, contributing to the overall development and advancement of the sector.
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