Wellthy Therapeutics raises USD 2.1 million in seed funding

Mumbai: Wellthy Therapeutics, a digital therapeutics company for chronic disease management has announced that it has raised USD 2.1 million in seed funding. Dr Ranjan Pai through his family office, along with Beenext Ventures, GrowX Ventures, Currae Healthcare and other strategic HNIs like Ashutosh Taparia and Karan Bhagat participated in the round.

Self-funded until this seed round, Mumbai based Wellthy Therapeutics has spent the last 2 years in clinical pilots and gathering real world evidence of its solution capability, and in the process has graduated from the Merck Global Digital Health accelerator, Swiss Re’ Global and ICICI Lombard’s Nova InsurTech accelerators.

The company plans to use this funding to enhance the efficacy of its type II diabetes digital therapeutic while developing solutions for other disease areas, build deeper integrations with healthcare stakeholders in South Asia and Asia, and expand its team.

Commenting on the development, Mr Abhishek Shah, Co-founder and CEO, Wellthy Therapeutics said, “Digital health interventions are a necessity to enhance the effectiveness of current chronic disease care. Our product suite directly boosts outcome efficacy in incredibly significant ways, well beyond what current healthcare is able to do. This fundraising will help us continue to pioneer a new category of medicine that will revolutionize chronic disease care across Asia.”

Dr Ranjan Pai, CEO and Managing Director, Manipal Education and Medical Group added, “Globally and in India, chronic diseases have become the largest burden on healthcare. Wellthy Therapeutics’ product suite has the potential to be the glue that binds healthcare providers, insurers, pharma and diagnostics one step closer to better patient outcomes. We were impressed with the early data of Wellthy’s type II diabetes digital therapeutic, and can see the opportunity for their solution suite to elevate the standard of care for multiple therapy areas.”

As a part of this round, Siddharth Dhondhiyal will join the board as the investor representative.