[Funding alert] Wellthy Therapeutics raises $4M in pre-Series A round led by Saama Capital
The funds will be deployed by Wellthy Therapeutics to enhance its product-suite, build further real-world evidence, expand to newer therapy areas, and grow its international business.
Wellthy Therapeutics, a digital therapeutics (DTx) company, has raised $4 million (Rs 30 crore) from Saama Capital, as part of its pre-Series A round for a 16 percent stake in the company.
Wellthy Therapeutics works with leading insurance companies, pharmaceuticals, medical device companies, and large hospital systems to deliver clinically-validated digital therapies that improve the health and quality of life of those living with chronic conditions. Apart from utilising the funding to deepen its product-suite and expand geographically, the company will accelerate the launch of its respiratory digital therapeutic portfolio (among other new indications), which is especially relevant in the current situation.
Wellthy Therapeutics is a digital therapeutics company that empowers and enables patients to prevent, reverse and control chronic illnesses. The company has active therapeutic indications in Hypertension, Dyslipidemia, Ischemic Heart Disease, Heart Failure, Type II Diabetes, and Chronic Kidney Disease, with an upcoming pipeline in Respiratory indications. Wellthy Therapeutics’ digital therapeutic platform is actively supporting patients in Cardiology, Diabetes and Nephrology.
The company has operations in India and Singapore with its digital therapies currently available in multiple languages. The company’s real-world evidence has been published in more than 20 journals.
“The success of our initial commercial launch with our pharmaceutical, insurance, medical device, and healthcare systems partners has shown us the scope of what is possible in augmenting patient outcomes. The success stories of our patients, their unique patient journeys and the data collected inspire us to invest deeper into clinical validation, product and distribution. We are excited to kickstart FY2020-21 with an incredible new shareholder on our cap table. The funding will allow us to invest further into improving patient outcomes and generate further real-world evidence, while expanding our therapeutic portfolio, geographic and stakeholder reach,” said Abhishek Shah, CEO and Co-founder of Wellthy Therapeutics.
The company uniquely combines real-world evidence with clinically validated care pathways to deliver its digital therapeutics across multiple areas. It does this via leading enterprise partners in healthcare to cater to patients in multiple countries.
“Wellthy Therapeutics is bringing technology-enabled, affordable digital therapeutics to make patient outcomes more accessible,” added Suresh Shanmugham, Managing Partner at Saama Capital.
As part of the deal, Suresh will be joining Wellthy Therapeutics’ Board.
(Edited by Kanishk Singh)
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