Arali Ventures generates 23x return from full exit in HBOX

Arali Ventures, a seed stage venture capital firm has generated a 23x return from its investment in remote digital healthcare startup HBOX following a complete exit.

In a statement, Arali Ventures said it also realised an internal rate of return (IRR) of more than 120% for the investment it made four years ago. This exit was realised following the investment HBOX raised from Charlesbank Technology Opportunities Fund.

This is the second exit for Arali Ventures in the last six months.

According to this VC firm, it invested in HBOX at inception, driven by a strong belief in the founding team’s vision to transform specialty care delivery through a robust AI-first virtual care enablement platform. It further claimed that over the years, HBOX has scaled rapidly while maintaining disciplined execution and capital efficiency.

“Our approach at Arali has always been rooted in early conviction and close founder partnerships, and we remain focused on backing enterprise-facing businesses that are built from India, can sustainably scale and become category leaders,” said Rajiv Raghunandan, Managing Partner, Arali Ventures.

The VC firm, through Arali Fund 1, has secured partial exits in FinBox and complete exits in Wingman and Insent, generating 2X return over the last six years.

The firm is currently investing from Fund II ($35 million) and has backed companies such as Pibit.ai, Protecto, DeepMatrix, 50Fin, FealtyX, Jidoka Technologies, Harvested Robotics, Bidaal, and Ezobooks, among others.

Arali Ventures was founded in 2018 and raised $7 million in its first fund.