Yuvraj Singh funded Healthians ex cofounder sues company, investors

The former co-founder of online diagnostics startup Healthians has sued the company, its present founder and investors for mismanagement and oppression of his rights as a minority shareholder.

The online media platform VCCircle first reported the news.

Anuj Mittal, who onboarded as the co-founder of Healthians in 2015 and quit in May this year, filed the petition last month with the National Company Law Tribunal under Sections 241 and 242 of the Companies Act 2013.

Founded by Deepak Sahni in 2014, the Gurugram-based startup aggregates diagnostic labs, crowdsourced sample collectors, doctors and also makes patients' medical records available online.

The company raised its seed funding of $30,000 from healthcare-focussed accelerator Healthstart in August 2014. Almost a year later, it raised another round of $180,000 from cricketer Yuvraj Singh’s VC firm YouWeCan Ventures.

In October 2016, the company raised $300,000 in Series A round from Japan-based VC fund BEENEXT. In May this year, the company raised a bridge round from Japan’s Asuka Holdings and some existing investors.

Mittal alleged that Sahni and the investors oppressed him by reducing his shareholding in the company through a fraudulent transfer and allotment of shares and forced him to exit the company.

Sahni and one of the investors YouWeCan Ventures have denied the allegations and called it a misrepresentation of facts.

“In due course of the proceedings before the NCLT, it will be clear that these allegations are not based on facts or place the true state of affairs,” Sahni and YouWeCan said in a statement to VCCircle.