Online diagnostics service provider Healthians has secured Rs 85 crore in a Series B funding round led by Japan-based DG Incubation & DG Daiwa Ventures. Kotak Private Equity and Trifecta from India, Mistletoe and Tokio Marine from Singapore also participated in this latest investment round.
According to the RoC filings with MCA, the Gurugram-based Healthians has allotted 54,102 Series B compulsorily convertible preference shares (CCPS) for Rs 4,536 per share to DG Incubation.
Furthermore, the company has allotted 7716 CCPS each to DG Lab 1 Investment Limited and Kotak Investments and 15432 shares each to Tokio Marine and Mistletoe Singapore.
Another 6063 CCPS were issued to Trifecta Venture Debt Fund -1, 4,630 to Sin Growth Partners, and 6,173 to Taniya Momru respectively.
The firm will deploy fresh proceeds to meet its working capital requirements and business expansion across tier II-III cities, enhance technological capabilities and increase service portfolio.
Founded in 2014, Healthians offers a wide range of pathology tests from their network labs. It also provides free home sample collection and delivers the soft copy of reports the same day.
At present, it operates a network of over 16 labs and is aiming to add 50 cities along with labs and 1,000 more phlebotomists (people trained to draw blood from a patient for testing), to its network in the next 12 months. It also claims to have created personalized health profiles of over 7.5 lakh customers to date.
The new fund has come almost ten months after Healthians had raised an undisclosed amount in a debt financing round led by Trifecta Capital in January 2019. Previously, it had also secured around $4 million in a Series A round led by BEENEXT in August 2016.
Healthians, which counts Dr Lal PathLabs, Super Religare Laboratories Ltd., and LYBRATE among its major competitors, had acqui-hired health logistics company – Healthy Labs in May.