Exclusive: Healthcare startup Glamyo kicks off new round

Healthcare startup Glamyo Health is raising $2.5 million or Rs 19.71 crore in fresh funds led by existing investor Agility Ventures Fund. Tejal Merchantile Private Limited, Anicut Capital LLP, VISTRA ITCL, Nelum Gidwani, and Ramrod Advisors LLP also participated in the round

The board at Glamyo has passed a special resolution to issue 2,408 CCPS at an issue price of Rs 81,865 per share to raise 19.71 crores or $2.5 million, a regulatory filing with the registrar of companies shows.

The company had raised $3 million in its Series A round led by Ananta Capital. Agility Ventures, Udtara Ventures, We Founder Circle, Dexter Angels, Tej Kapoor of Fosun, Vivek Gupta, and Abhay Hanjura of Licious have also joined the round.

The Delhi-based company will utilize these funds in order to generate long-term resources for implementing future growth plans, filing further shows.

Co-founded by Archit Garg and Preet Pal Thakur, Glamyo is focused on providing services like laser treatments for orthopedics, proctology, urology, and laparoscopic cases. In March, Glamyo claimed that it has been operating across more than 10 surgical categories providing over 50 individual treatments. The company has a presence in over 10 cities and plans to scale up in over 20 cities by the end of the ongoing fiscal year (FY23).

Glamyo Health competes with Pristyn Care which turned unicorn this year after raising a $85 million round from Tiger Global, Sequoia Capital and others. The three-year-old company follows a hybrid model where it sets up its own clinics and utilizes third-party hospital infrastructure to facilitate surgeries.