Health Tech Startup Healthify Secures Funding Of $20 Mn

Healthify, a health tech startup, has secured USD 20 million in new funding to support its expansion into the US market. The funding round was led by existing investors Khosla Ventures and LeapFrog Investments, with new participation from Claypond Capital, the family office of Indian healthcare billionaire Ranjan Pai. 

This latest capital injection adds to a previous USD 30 million raised in 2023, which included USD 5 million in venture debt.

The funds will primarily be used to start  Healthify's app in the US by the end of this year, with a significant portion directed toward its global expansion strategy. According to co-founder Vashisht, Healthify's competitive advantage lies in offering more affordable solutions compared to existing US alternatives, thanks to its operations in India and robust AI capabilities, as per media reports.

While the US market is expected to contribute a smaller percentage of revenue initially, the company anticipates it could generate hundreds of millions of dollars within five years. Although the primary focus will be on the US in the near term, Healthify plans to eventually expand into other regions as well.

The company aims to achieve cash-flow positivity in India by FY25, intending to maintain profitability domestically while prioritising US growth.