Wellthy raises $4 m in pre-series A funding from Saama Capital

By: |
Published: April 20, 2020 12:05:10 AM

The funds will be used to enhance its product suite and grow overseas business

Wellthy Therapeutics announced that it has raised a pre-Series A funding of $4 million from Saama Capital.

Consider this. Two out of three Indians die from poorly managed chronic health conditions which are aggravated by lifestyle and habits. Mumbai-headquartered Wellthy Therapeutics is making a concerted effort to bring in better health outcomes with its digital therapeutics. This digital therapeutics venture, which has operations in India and Singapore with its digital therapies currently available in multiple languages, empowers and enables patients to prevent, reverse and control chronic illnesses. It has active therapeutic indications in hypertension, dyslipidemia, ischemic heart disease, heart failure, Type II diabetes and chronic kidney disease, with an upcoming pipeline in respiratory indications.

Recently, Wellthy Therapeutics announced that it has raised a pre-Series A funding of $4 million from Saama Capital, an early-stage, sector-agnostic, India-focused venture capital firm investing since 2006. The Saama team is currently investing out of its fourth fund and has built significant knowledge in several sectors including financial services/fintech, consumer product companies and SaaS.

The funds will be deployed by Wellthy Therapeutics to enhance its product suite, build further real-world evidence, expand to newer therapy areas, and grow its international business. “The success of our initial commercial launch in FY2019-20 with our pharmaceutical, insurance, medical device, and healthcare systems partners has shown us the scope of what is possible in augmenting patient outcomes,” said Abhishek Shah, CEO and co-founder, Wellthy Therapeutics. “The success stories of our patients, their unique patient journeys and the data collected inspires us to invest deeper into clinical validation, product and distribution. The funding will allow us to invest further into improving patient outcomes and generate further real world evidence, while expanding our therapeutic portfolio, geographic and stakeholder reach.”

The startup works with leading insurance, pharmaceutical, medical device companies and large hospital systems to deliver clinically-validated digital therapies that improve the health outcomes and quality of life of those with a chronic condition. Apart from utilising this raise to deepen its product-suite and expand geographically, it will accelerate the launch of its respiratory digital therapeutic portfolio (amongst other new indications), which is especially relevant in the current situation.

Wellthy Therapeutics’ digital therapeutic platform is actively supporting prescribed patients in cardiology, diabetes and nephrology conditions. The company has over 20 publications on its real-world evidence in multiple therapeutic indications.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Planters seek moratorium on rubber imports
2IBC ordinance: No fresh default case for a year from Mar 25
3SBI Q4 net shoots up 327% year-on-year on one-time gain