Wellthy Therapeutics has secured additional financing led by Japanese venture capital firm Beyond Next Ventures, with participation from existing investors. This investment paves the way for the digital therapeutics start-up to expand its platform into the Japanese market, enabling enterprise customers to deploy digital health solutions to support patients globally.
The Mumbai-based company is already backed by financial investors such as Saama Capital, GrowX Ventures, Ranjan Pai's (Manipal) Family Office, and Beenext Ventures. In 2020, it raised $4 million (around Rs 30 crore) from Saama Capital, as part of its Pre-Series A round, for a 16 per cent stake in the company. In February 2019, pharmaceutical major Cipla Limited participated as an extension to the seed round and invested Rs 10.5 crore for almost 12 per cent stake in the start-up.
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Wellthy Therapeutics raised Rs 13.5 crore as part of its seed funding in March 2018, led by GrowX Ventures and the Ranjan Pai's (Manipal) Family Office, along with participation from Beenext Ventures, Currae Healthtech fund and other strategic HNI investors.
Abhishek Shah, Prayat Shah and Aradh Pillai founded Wellthy Therapeutics in 2015 to deliver clinically-validated digital therapies that improve the health outcomes and quality of life of those with a chronic condition. It enabled this with leading insurance, pharmaceutical, medical device companies, and large hospital systems.
"We started Wellthy Therapeutics with a vision that one day, nobody would die from preventable disease complications. We are humbled by the confidence placed in us by Beyond Next Ventures and are excited by the opportunity to accelerate further our vision of impacting 10 million patients in this decade by helping Japanese life science and healthcare enterprise customers achieve better real-world outcomes," said Abhishek Shah, CEO of Wellthy Therapeutics.
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Beyond Next Ventures is a venture capital fund that invests mainly in deep-tech start-ups and manages 22 billion yen in funds. It started investing in India in 2019, leveraging its relationships with Japanese corporations.
"We are very excited about Wellthy Therapeutics' intent to solve the business objectives of life-science companies and insurers by aligning them with improving patient outcomes, all powered by their evidence-based platform approach. We are delighted to see them delivering solutions for the world. We are keen about enabling the company's growth in Japan by building on our relationships with life-sciences companies and digital health ventures," said Yuichiro Sano and Karthik Varada from Beyond Next Ventures.
Wellthy Therapeutics' modular, low-code digital health platform is used to build and deploy validated digital health solutions in multiple conditions. It has previously announced the platform's FDA certification along with its existing EU MDR certification, which it claimed makes it South Asia's only chronic and multi-disease management platform to be certified for the same.
The platform helps payor and life science enterprise customers in patient identification, therapy initiation and up-titration, boosting market share and driving adherence while reducing the overall cost of care and medical claims and improving patient quality of life.
Wellthy Therapeutics is present across Europe and Asia and has reportedly impacted the outcomes for over 150,000 patients across these regions. It recently announced its expansion to the US, along with the platform's regulatory certifications for the same.
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