Alyve Health Secures $5.5 Million to Enhance Platform and Expand Operations

Mumbai, India Health tech startup Alyve Health has announced raising $5.5 million from investors to drive initiatives in platform enhancement, talent acquisition, and operational expansion. This funding round was led by Axilor Ventures, with participation from existing investor 1Crowd Fund and healthcare-focused fund Inhealth Ventures. Additionally, Alyve Health secured venture debt funding from Trifecta Capital.

Cofounder and CEO Shashank Avadhani expressed enthusiasm about the investment, stating, "We are in a very large market with significant opportunities. To build and scale the platform as per our aspirations, we need to invest in people, predominantly engineers, product managers, and deep technology."

Founded in 2020 by Shashank Avadhani, Sushant Roy, and Vineet Mehta, Alyve Health offers comprehensive health plans that include services such as doctor consultations, diagnostics, medicine purchases, insurance, dental procedures, and gym memberships—all on a single platform. The startup integrates with insurers, brokers, financial institutions, digital platforms, clinics, diagnostic centers, and fitness studios to provide tailored healthcare services to individuals and employers.

Alyve Health's platform currently serves over 1.1 million users. The company operates from four offices and employs 108 staff members, with plans to increase its workforce by 30 to 50 employees within the current financial year.

Prachi Sinha, Principal at Axilor Ventures, highlighted Alyve Health’s unique position in the market, saying, "With rising incomes and awareness, consumers are asking for offerings beyond just hospitalization benefits. In a market fraught with noise, Alyve’s customer-centric approach to enhancing the healthcare experience while offering tailor-made, high-utilization OPD services gives the company the right to win. We have been early partners with Alyve and are proud to support them in their next stage of growth."

Alyve Health previously raised $900,000 in seed funding from Axilor Ventures and 1Crowd Fund in April 2022. The company cites an International Trade Administration report noting that the Indian healthcare industry, valued at over $370 billion in 2020, is expected to surpass $610 billion by 2026.

Axilor Ventures, founded by former Infosys cofounders Kris Gopalakrishnan and SD Shibulal, has a history of backing healthcare startups such as Medfin, Numen, and 5C Network.

With the new funding, Alyve Health is poised to accelerate its growth and continue its mission to transform the healthcare experience for millions of users.