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Healthcare edtech startup Virohan raises $7.5 Mn in ongoing Series B

EntrackrEntrackr · 3d ago
Healthcare edtech startup Virohan raises $7.5 Mn in ongoing Series B
Medial

Healthcare edtech startup Virohan raises $7.5 Mn in ongoing Series B Healthcare edtech startup Virohan has raised Rs 65 crore ($7.5 million) as part of its ongoing Series B funding round, led by Mynavi Corporation. The round also saw participation from Virohan’s existing investors including Blume Ventures, Bharat Inclusive Technologies Seed Fund, and Rebright Partners. The funding will accelerate Virohan’s path to profitability through product innovation, operational efficiencies, and strategic talent expansion, the company said in a press release. Virohan works with universities such as UPES, BBD University, CMR University, Assam Don Bosco University, and G.H. Raisoni University to offer undergraduate programs in allied healthcare, nursing, and healthcare management, and partners with healthcare companies including Lenskart, Medanta, Healthians, and Dr. Lal PathLabs to support student placements. The seven-year-old firm claims to have partnered with more than 20 higher education institutions, trained over 13,000 healthcare students, and worked with over 2,000 healthcare employers to support graduate employability. Virohan has raised over $25 million in funding so far. According to TheKredible, after the latest share allotment, Mynavi Corporation will hold a 3.83% stake in the company, while Blume Ventures will continue as the largest shareholder with a 16.16% holding. The company is yet to file its FY25 financials. In FY24, Virohan reported operating revenue of Rs 21 crore, up from Rs 10.65 crore in FY23, while its losses widened 18% year on year to Rs 22 crore.

Virohan to secure fresh funds in ongoing pre-Series B round

EntrackrEntrackr · 7m ago
Virohan to secure fresh funds in ongoing pre-Series B round
Medial

Healthcare edtech startup Virohan is all set to raise Rs 25.7 crore (around $3 million) in an ongoing pre-Series B round led by Blume Ventures. Existing investors Bharat Inclusive Technologies and Japan-based venture capital Rebright Partners also joined the round. Virohan kicked off its pre-Series B round in December 2022 where it scooped up $7 million led by Blume Ventures. The Virohan’s board passed a special resolution to approve the issue of 1,783 pre-Series B3 CCPS at an issue price of Rs 1,44,072 each to raise the aforementioned amount, as per its regulatory filing with the RoC. The company plans to utilize the investment to support general operations, working capital needs, capital expenditures, and the expansion of its business operations, according to the filing. Blume Ventures will infuse Rs 15 crore in the firm while Bharat Inclusive Technologies and Rebright Partners to invest Rs 5.7 crore and Rs 5 crore, respectively to increase their stakes. As per Entrackr’s estimates, the Gurugram-based company will be valued at Rs 530 crore or $62 million post-allotment which is a 25% increase in its valuation as compared to its previous round. Virohan has raised over $15 million in funding to date. Following the latest allotment, Blume Ventures will emerge as the largest shareholder with a 15.36% stake. Participating investors Bharat Inclusive Technologies and Rebright Partners will hold 5.84% and 5.65% stakes, respectively. Meanwhile, the company co-founders Nalin Saluja, Kunaal Dudeja and Archit Jayasal will each retain a 13.6% stake. Founded in 2018, Virohan provides vocational training to students aiming to build careers in the healthcare sector. The company delivers its programs through hybrid classrooms on campuses and online platforms across India in cities including Delhi, Gurugram, Faridabad, Pune, Jaipur, Mumbai, Nagpur among others. Virohan nearly doubled its operating scale in FY24, reporting an operating revenue of Rs 21 crore from Rs 10.65 crore in FY23. The company’s losses also grew 18% year-on-year to Rs 22 crore during the same period. Virohan has recently partnered with Lenskart to launch SureStart, a program that combines theoretical and practical training to prepare students for job-ready roles in the ophthalmic field.

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