Wellthy Therapeutics, a diabetes management startup, has recently raised $4mn in a pre-Series A funding round from early-stage VC firm Saamna Capital.
The recent funding in the startup comes after a two year gap when the company had raised seed funding from Ranjan Pai’s family office MEMG, according to an Entrackr report. In 2018, the company had raised $2.1 million in seed funding from MEMG while pharma giant Cipla had picked up 11.71% stake for Rs 10.5 crore in February last year.
As per the company 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.
Wellthy was founded in 2015 by Abhishek Shah, Prayat Shah, and Aradh Pillai. The company primarily focuses on type 2 diabetes care through a mobile app that lets users log their meals and monitor their blood sugar levels over time.
