Healthtech startup QubeHealth, on Wednesday said it has secured an undisclosed amount in a pre-series A round, co-led by US-based venture capital firm New Horizon Ventures and Singaporean investment firm ThinKuvate, with existing investor Keiretsu Forum.
The fundraise also saw participation from Axiomatic Ventures, Inflection Point Ventures and other angel investors from India and the US.
The Mumbai-based platform will use the fresh funds for expansion, scaling up its business and to further invest in building technical stack.
Founded in 2016, QubeHealth is a platform focused on solving financing problems for healthcare expenditure that is not covered under medical insurance. It claims to offer interest-free healthcare finance to employees of corporates that subscribe to its service. The startup aims to onboard 100,000 subscribers by the end of March next year.
“This funding round sets us up to deliver on the business metrics we have been chasing and beyond. The inbound interest we have seen from marquee institutional investors since early this year, has been overwhelming, and we are excited to close our Series-A within the next six months,” said Chris George, Co-founder and chief executive at QubeHealth.
“Healthcare financing that tackles out-of-pocket medical expenses is an area that is grabbing attention globally. QubeHealth is solving a massive problem for the Indian market, providing credit-on-tap to employed Indians, in a manner that does not put them into a debt trap,” said Subbu Meiyappan at New Horizon Ventures.
Business-to-business (B2B) e-commerce firm Kneady has raised an undisclosed amount from Dubai-based 1Digi Investment management firm, the family office of Raghunath Subramanian, Global CEO, Actyv.ai.
The startup will deploy the fresh proceeds to ramp up its e-commerce portal with more product categories.
Kneady is a platform which caters to everyday requirements of hotels and catering businesses. It supplies all the products required for the food industry including poultry, meat, seafood, fruits, vegetables, groceries, dairy and beverages.
“We follow best standards of sourcing practices and a rigorous quality control process. Quality, after all, is everything in the food industry and with the new investments coming in we intend to improve the standard of our services further. We are also keen to get more financial partners onboard to offer the SMBs in the food and beverages space with customized credit lines with no hidden costs,” said Seemantha Baruah, co-founder at Kneady.
“Kneady aims to provide the best sourcing experience along with a wide range of supplies to match the product specifications tailormade for hotel, restaurant and catering businesses. The vision of the founders to transform the way procurement is done in the food and hospitality industry is commendable and I believe Kneady’s unique business model of leveraging technology to solve sourcing problems of SMBs in the industry is going to be a real game changer,” said Subramanian.
