Alyve Health raises $5.5 Mn in Series A round

Healthtech platform Alyve Health has raised $5.5 million in its Series A round led by Axilor Ventures and saw participation from 1Crowd Fund, an existing investor, as well as Inhealth Ventures, a healthcare-focused fund. The firm also raised a venture debt fund from Trifecta Capital as part of this round. 

In April 2022, Alyve Health had raised $900,000 in seed funding from Axilor Ventures and 1Crowd Fund.

The proceeds will be used for strategic growth initiatives across key areas like platform enhancement, talent acquisition, expansion of operations, amplification of services, and higher member engagement, Alve Health said in a press release.

Founded by Shashank Avadhani, Sushant Roy, and Vineet Mehta in May 2020, Alyve’s health plans cover multiple healthcare journeys like doctor consultations, diagnostics, medicine purchases, dental procedures, gym memberships, and proactive well-being. 

The platform is easily integrated with payers (insurers, TPAs), intermediaries (brokers, financial institutions, digital platforms), and providers (clinics, diagnostic centres, fitness studios). As per the company, its tailored solutions to multiple groups - employees, customers, and channel partners - and currently serves over 1 million members.

Early-stage investor Axilor Ventures launched its second technology fund worth $100 million in July 2022. Since then, it has backed several startups such as LeRemmit, Doppelio, Solar Ladder and Metalbook, among others.