Medical assistance company Credihealth has secured US$ 1.5 million in a pre-Series A funding round from Tolaram Inc, family office investment arm of Tolaram Group and Mountain Pine Capital.
Bala Swaminathan (Ex) KPMG partner, one of the earliest investors in the platform too has invested in this round as well.
With this round of funding, Credihealth aims to expand its operations and fund the new services to address the non-clinical pain points of patients.
Credihealth claims to have tie-ups with over 630 hospitals in Tier 1 as well as Tier 2 geographies and has partnerships with brands such as Fortis, Medanta, Columbia Asia, BLK, Paras, Artemis, etc. It provides extensive healthcare assistance to patients supporting them in managing all their hospital needs.
Commenting on the funding, Ravi Virmani, Founder and Managing Director, Credihealth said, “More than money, it is innovation and steady growth that are needed to survive in the market today. We are already a company with a consistent and positive cash flow and have achieved substantial growth in the past few quarters. The funding will primarily be utilized to augment technology and infrastructure to expand services and introduce new products. Most importantly, the guidance and mentorship of our investors is what we are looking forward to, for sustained evolution of Credihealth.”
Manish Tibrewal, CEO of Tolaram Inc said:
“The Indian startup landscape has exhibited exceptional growth across industries and we are glad to participate in such a vibrant market with a high-potential healthcare startup. There is an urgent need for drastic improvements in India’s healthcare delivery system and to bring transparency for the patients.”
He added, “Standing true to its name of providing credible healthcare assistance, Credihealth is currently one of the most disruptive healthcare startups in the Indian market, having achieved such phenomenal growth in a very short period of time. It is most certainly one of the few startups in India to watch out for.”