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Healthtech startup FlexifyMe has raised INR 20 Cr (about $2 Mn) in its Pre-Series A round led by IvyCap Ventures, along with participation from Signal Ventures and other existing investors.
In a statement, the startup said it will deploy the fresh capital to fuel its offline and online expansion plans. The funding will also help the startup launch its advanced posture and gait analysis labs and strengthen its clinical research partnerships.
Founded in 2021 by Manjeet Singh and Amit Bhayani, FlexifyMe offers online physiotherapy solutions for chronic pains for neck, lower back, shoulder, and more. The platform uses its AI stack to first scan and understand the weaknesses and strengths in a patient’s body. After that, it lines up an appointment with a physiotherapist. After combining the reports from the above analysis, the platform offers customised treatment solutions to a patient.
FlexifyMe also offers an AI-powered chatbot to offer medical information and support.
Apart from offering chronic pain solutions, FlexifyMe offers online yoga classes which run on a subscription-based model. The fees for group sessions starts from INR 7,500 for three months and goes up to INR 30,000 for an annual subscription. It also offers individual sessions which start from INR 28,687.
FlexifyMe featured on Shark Tank Season 3, where it secured investment from Emcure Pharmaceuticals’ executive director Namita Thapar.
Prior to that, the Pune-based startup raised $1 Mn in its seed round led by Flipkart Ventures.
FlexifyMe competes with the likes of Practo and MediBuddy in the physiotherapy solutions space. While these startups connect its users with physiotherapists, FlexifyMe offers AI-powered analysis, coupled with consultations from physiotherapists. The startup is eyeing a share of the country’s physiotherapy services market which is expected to become a $1.9 Bn opportunity by 2030.
FlexifyMe also competes with Cult.fit in the online fitness space.
While healthtech startups in the country have had their shares of struggles, largely due to the presence of well-established players, the capital incentive nature of the business, and a lack of exit opportunities, investors continue to back startups with differentiated business models.
Earlier today, Reveal Healthtech raised $7.2 Mn in its Series A funding round led by Leo Capital. Last month, online pharmacy Truemeds closed its Series C round at $85 Mn (around INR 740 Cr).
The post Healthtech Startup FlexifyMe Bags INR 20 Cr From IvyCap Ventures, Others appeared first on Inc42 Media.
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