Healthtech startup WatchYourHealth (WYH) raised $2.2 million in funding from Conquest Global Ventures. The investment aims to drive innovation, foster global expansion, and revolutionize consumer engagement in the healthcare industry.
About startup
Founded in 2015 by Ratheesh Nair, WYH provides customer engagement services to healthcare delivery and healthcare financing businesses through its SaaS platform with a phygital (physical and digital) approach.
The newly raised funds will be utilized to fuel the next phase of WYH’s growth and expansion plans. The investment will support product development, geographic 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.
Notably, WYH has achieved profitability in the fiscal years 2021 and 2022 as a bootstrapped entity, showcasing a remarkable track record.
Founder Ratheesh Nair commented on 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 that WYH intends to expand operations beyond India and target key markets such as Japan, Singapore, UAE, Indonesia, and Bangladesh.
The Indian healthcare market presents significant opportunities for 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 rise in prominence.
Recently, one of WYH’s competitors, Mykare, secured $2.01 million in seed funding to enhance the patient experience. Another healthtech startup, Karma Primary Healthcare, also 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.
In addition, HealthifyMe, a leading player in the healthtech sector, recently raised $30 million in its Pre-Series D funding round.
The influx of investments in healthtech startups reflects the growing demand for innovative solutions and digital platforms in the healthcare industry. These companies are well-positioned to transform the way consumers engage with healthcare services and contribute to the overall development of the sector.
