Ekincare, an AI-based healthcare startup raises $15M in Series B Round - Start-Up Hyderabad
Loading Startup Hyderabad

Ekincare, an AI-based healthcare startup raises $15M in Series B Round

 4 months ago    

In a Series B funding round, Ekincare, operated by Aayuv Technologies Pvt. Ltd announced their latest fundraise. Led by HealthQuad and Sabre Partners, the round closed at $15 Million (“`~Rs. 114 Crores). In addition, existing investors Eight Roads Ventures, Ventureast, Siana Capital and Endiya Partners also partook the round.

ekincare funding

In 2015, Kiran Kalakuntla and Srikanth Samudrala launched Ekincare in an attempt to create a medical records platform. To transform the healthcare ecosystem in India, the founders built a patented AI & deep analytics technology. Gradually pivoting towards becoming a B2B health benefits provider, Ekincare is India’s most advanced platform for health benefits. Being based in Hyderabad, the company aims to proactively aid in the growth of the corporate health and wellness market.

EkinCare’s Series A – Healthtech startup eKincare secures Series-A funding from Ventureast, Endiya Partners, Eight Roads,Touchstone equities, BVR Mohan Reddy – Start-Up Hyderabad (startuphyderabad.com)

With over 200 employees, Ekincare has engaged over 2M users since inception. They are trusted by customers like S&P Global, Target, ThyssenKrupp, Airbnb, Xpress Bees, Nykaa, Flipkart as well as small and medium enterprises (SMEs).

Ekincare founders

Funds Raised by Ekincare And A Few Thoughts

With their Series B round, Ekincare raises $15 million, two years after their Series A round in 2019. Dexter Capital exclusively adviced on the financials of this transaction. Consequently, these funds will go towards growing the company. Moreoever, this fresh capital will also go towards simplifying the user experience.

Onboarding two new investors, Ekincare in on a path to seize the market. However, speaking on the raise, Kiran Kalakuntla, co-founder, Ekincare, said; “We expect to grow by another 3x post this round. In a post-pandemic world, employee well-being has increasingly become the focal point of every employer’s strategy. Our patented platform considers behavioural data and uses it to personalize an employee’s health benefits journey, resulting in higher benefits adoption, employee engagement, and better health outcomes. The longitudinal depth of this information is helping payers underwrite health risks better, in turn making healthcare affordable for employers.”

In addition he said, “Our patented platform considers behavioral data and uses it to personalize an employee’s health benefits journey, resulting in higher benefits adoption, employee engagement, and better health outcomes.” 

On the other hand, Ajay Mahipal, Director, HealthQuad noted that Ekincare is growing at a CAGR of 150%, and its platform is used by more than 400 corporates and millions of employees. In the same vein, Arvind Chari, Principal, Eight Roads Ventures said, “Their platform is ready to address the surging demand from corporate clients to provide more comprehensive support for their employees. Moreover, throughout the pandemic, Ekincare has shown resilience and also added marquee corporate customers.”

Comments

comments

Rituka M

I am an avid reader and have a passion for writing. Being a law student coming from a commerce background, I have a flair for learning about the dynamic legal and business fraternity, as well as becoming an entrepreneur myself. Innovation, creativity, and hard work are the sole drivers to growth and is my mantra for life.

OUR BLOGGERS

  • Saritha Keshamoni

    Saritha Keshamoni

  • Rituka M

    Rituka M

  • Ramya Sayaboni

    Ramya Sayaboni

  • Bhavitaavya Dharanikota

    Bhavitaavya Dharanikota

  • Sruthi Malla

    Sruthi Malla

  • Tata Teja

    Tata Teja

  • Ruchika Agarwal

    Ruchika Agarwal

  • Neeha Jayaram

    Neeha Jayaram

  • Avatar

    Sameeksha Bansal

  • Rahul Das

    Rahul Das

  • Shravani Maddirala

    Shravani Maddirala

  • Saloni Anand

    Saloni Anand

  • Avatar

    Madhureema RoyMoulik

  • Srinivas Aki

    Srinivas Aki

  • Dhivya

    Dhivya

  • Soumalya Chakraborty

    Soumalya Chakraborty

  • Sravya Gowrisetty

    Sravya Gowrisetty

  • Monika Guwalani

    Monika Guwalani

  • Ramesh Loganathan

    Ramesh Loganathan

  • Nischala Agnihotri

    Nischala Agnihotri

  • Varun Rastogi

    Varun Rastogi

  • Harshita Goel

    Harshita Goel

  • Nikita Kiran

    Nikita Kiran

  • Avatar

    Ankur Mehta

  • Neha Mohsin

    Neha Mohsin

  • Maddy Anand

    Maddy Anand

  • Ayyappa Nagubandi

    Ayyappa Nagubandi

  • Chandra Mouli Koduri

    Chandra Mouli Koduri

  • Divya Jyothi

    Divya Jyothi

  • Saptarshi Roy Chaudhury

    Saptarshi Roy Chaudhury

  • Ayushi Pandey

    Ayushi Pandey

  • Avatar

    Surya Vallae

  • Amita Sood

    Amita Sood

  • Gunajit Haloi

    Gunajit Haloi

  • Ravi Vaka

    Ravi Vaka

  • Avatar

    Manoj Surya

  • Priyanka Mechineni

    Priyanka Mechineni

  • Sreekar Reddy

    Sreekar Reddy

  • Ambika Asta

    Ambika Asta

  • Avatar

    Anish Tadimarri

  • Vana Korrapati

    Vana Korrapati

  • Avatar

    Vineel Reddy Pindi

  • Vinita Surana

    Vinita Surana

  • GR Reddy

    GR Reddy

image title here

Some title