Wellthy wins $4 Mn fund from Saama Capital
Wellthy Therapeutics, a Diabetes management startup, has raised an amount of Rs 30.33 crore ($4.2 million) in a pre-Series A funding round from early-stage venture capital firm Saama Capital.
After it had raised a seed round led by Ranjan Pai’s family office MEMG, this is fresh funding after two years.
According to regulatory filings, Wellthy has allotted 9,39,983 pre-Series A compulsorily convertible preference shares (CCPS) and 10 equity shares to Saama Capital at a price of Rs 322.673 per share to raise the investment.
In its seed funding during March 2018, the company raised a fund of Rs 13.5 crore or $2.1 million while pharma giant Cipla had picked up 11.71% stake for Rs 10.5 crore in February last year.
Founded by Abhishek Shah, Prayat Shah and Aradh Pillai in 2015, Wellthy focuses on type two diabetes care through a mobile app which lets users log their meals and monitor their blood sugar levels over time. The app is available for Android and iOS users in multiple Indian languages.
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