ProPhysio, a healthcare firm, has raised an undisclosed amount in its Series A funding from the NestaVera Group of companies, an investment firm with interests in sectors such as education, co-working and real estate.
The startup will use the funds for accelerating its growth and building new products and services apart from exploring artificial intelligence-based technology to treat health issues, ProPhysio said in a statement.
Company co-founder Pramod Ravindra said ProPhsyio was looking to build a new physiotherapy paradigm involving consultants coaching people about their overall health.
“We aim to provide the most effective and efficient healthcare services at affordable prices so that everyone can access the best quality in healthcare,” he said.
Separately, Manas Mehrotra, managing director at NestaVera Group, said the firm was confident about its investment because of ProPhysio’s positioning in the segment and the credibility. “We believe there is immense potential health solutions focused on lifestyle; we want our investments to go beyond capital investments and also lead to a positive impact on society,” he added.
ProPhysio, which is operated by Pro Physio Healthcare LLP, focusses on physiotherapy and rehabilitation services.
The Bengaluru-based company claims to have helped over 3,000 patients through its customised solutions, and targets to serve over a million patients by 2023.
Deals in the health-tech segment
There has been constant investor activity in the healthcare-technology segment as startups seek to differentiate themselves by addressing gaps in traditional healthcare models as well as offering frontier technology-based solutions.
In July, HealthAssure Pvt. Ltd, an online aggregator of primary healthcare services, raised $2.5 million (Rs 17.15 crore) from early-stage venture capital firm Blume Ventures in its Series A round of funding.
Similarly, that month, the Bengaluru-based health technology startup mfine raised Rs 31 crore ($4.5 million) in debt funding from venture debt firm Alteria Capital. The company uses its artificial intelligence-powered platform to connect patients with doctors for virtual consultations.
In June, Wysa, an artificial intelligence-based chat platform which focuses on mental health, raised Rs 15 crore (around $2.15 million) in a pre-Series A funding round led by pi Ventures. Early-stage specialist Kae Capital, an existing investor in Wysa, also participated in the round.
