Healthtech startup Zyla Health has raised $4 million in its series A funding round led by Exfinity Venture Partners, according to ETtech report.
The round also saw participation from Sony Innovation Fund, Venture Catalysts and Aureoulis led by Paula Mariwala.
The newly raised funds will be used to accelerate growth across its three key verticals of insurance, corporates, and big pharma, the Gurugram-based company said on Thursday. Also, the funds will be directed towards product integrations across the healthcare ecosystem to facilitate scalability, it added.
With the current investment, Zyla Health intends to expand its business fivefold and is aiming to achieve profitability within the next two years.
“We have grown 300% year-on-year in terms of revenue after our last fundraise in July 2022 and by retention, in the business-to-business (B2B) clients in insurance, corporate, and pharma, we have seen 100% retention of our key accounts… We are looking to scale 5x from here with this investment and will also be turning profitable within the next two years,” Khushboo Aggarwal, founder and executive CEO of Zyla Health told ET.
Prior to this round, Zyla had raised $1 million in its pre-series A round in July 2022, with Canara Bank Ventures, Seeders VC, and other angel investors leading the investment. The startup has also received capital from institutional investors such as Kae Capital and Secocha Ventures.
Aggarwal further said the company plans to expand its patient base to one million managed patients annually and will be venturing into global markets, beginning with Southeast Asian nations. The company is scheduled to launch in the Philippines early next year.
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