Homegrown healthtech startup Visit Health has raised over Rs 250 crore ($30 million) in a combination of capital infusion from various investors and secondary purchase of stake in the company held by PB Fintech’s arm Docprime Technologies.
In addition, the startup has announced its second ESOP (Employee Stock Ownership Plan) buyback.
The company said that it will use the latest investment to expand its business which involves a strategic partnership with health and wellness platform TatvaCare.
“With the strengthened partnership with TatvaCare, we are poised to expand our cashless network, services, and enhance our commitment to delivering accessible, high-quality healthcare to everyone,” Vaibhav Singh, Co-founder and MD of Visit Health, said in a statement.
The startup was founded in 2015 by BITS Pilani graduates Singh, Shashvat Tripathi, Chetan Anand, and Anurag Prasad. Visit Health lets corporate workers manage their healthcare needs using their smartphones.
The startup allows people to connect with doctors while travelling or at work. The company provides wellness & OPD services to more than 400 corporate firms, 4,500 SMEs, and 15 insurers via a vast cashless network of medical service providers across the country.
“Our partnership with Visit Health aligns perfectly with our vision of transforming healthcare delivery. By working closely together, we can leverage our combined strengths to offer innovative solutions that meet the evolving needs of patients,” said Manoj Balaji, TatvaCare’s CEO.
Visit Health’s revenue for the fiscal year ending in March 2023 (FY23) almost tripled from Rs 17.55 crore to Rs 53 crore. In FY23, the company managed to keep losses below Rs 1 crore.