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HexaHealth secures fresh funds led by Orios VP

EntrackrEntrackr ยท 8m ago
HexaHealth secures fresh funds led by Orios VP
Medial

Healthcare platform HexaHealth is set to raise Rs 37 crore (approximately $4.3 million) in its ongoing Series A round led by Orios Venture Partners with the participation of Enzia Ventures and existing investors including 3one4 Capital, Chiratae Ventures, and Omidyar Network. The board at HexaHealth passed a special resolution to issue 49,941 Series A3 compulsory convertible preference shares at an issue price of Rs 6,848 to raise the aforementioned sum, as per its regulatory filing. Orios Venture Partners will lead the round with an investment of Rs 12 crore, followed by Enzia Ventures contributing Rs 6 crore. Other investors, including 3one4 Capital, Chiratae Ventures, ITI Growth Opportunities Fund, and Omidyar Network, will each invest Rs 4 crore. The proceeds will be used for working capital, marketing, and general corporate purposes. Post-allotment, the company's estimated valuation is Rs 314 crore (approximately $37 million). Founded in 2021 by Vikas Chauhan, Ankur Girgas, and Aman Khanna, HexaHealth offers a full-stack solution for patients requiring surgery by partnering with leading hospitals. HexaHealth has raised $11.5 million to date, including a $4.5 million seed round in September 2021.

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Kenko Health shuts down; investors drag insurtech startup to NCLT

Economic TimesEconomic Times ยท 1y ago
Kenko Health shuts down; investors drag insurtech startup to NCLT
Medial

Insuretech startup Kenko Health has closed down due to a lack of funds. The company, backed by investors including Sequoia Capital India and Orios Venture Partners, was taken to the National Company Law Tribunal by a debt fund. Kenko had not paid its employees for several months and had previously laid off 20% of its workforce. The startup had applied for a health insurance license but needed fresh funds. However, a proposed investment plan was opposed by some existing investors, resulting in a stalemate. Kenko's founders held a 36% stake in the company, with Peak XV, Beenext, and Orios having smaller stakes. The startup had raised $13.7 million in funding and recorded a net loss of $8.5 million in fiscal 2023.

Exclusive: Proptech startup Truva raises $6.3 Mn at over $30 Mn valuation

EntrackrEntrackr ยท 16d ago
Exclusive: Proptech startup Truva raises $6.3 Mn at over $30 Mn valuation
Medial

Proptech startup Truva has raised over $6.32 million from existing investors Stellaris Venture Partners and Orios Venture Partners. Truvaโ€™s board has issued 54,628 Series A Compulsorily Convertible Preference Shares (CCPS) at an issue price of Rs 10,383 per share to raise a total of Rs 56.72 crore, according to its regulatory filing with the Registrar of Companies (RoC). Stellaris Venture Partners led the round with an investment of Rs 30.5 crore, followed by Orios Venture Partners, which infused Rs 26.22 crore. The fresh funds will be utilised for working capital requirements and business expansion of the company, as per the RoC filing. According to Entrackrโ€™s estimates, Truva is valued at around Rs 284 crore ($31.60 million) on a post-money basis. Founded in 2023 by Puneet Arora, Monil Singhal and Ankit Gupta, Truva provides detailed property listings with extensive insights and support for buyers, including help with financing, paperwork, and registration. The startup also offers features such as natural light scores, noise ratings, 3D tours, and high-quality photos and videos. After the fresh allotment, Stellaris Venture Partners holds a 24.53% stake in Truva, while Orios Venture Partners owns 9.24%, respectively. The co-founders, Puneet Arora, Monil Singhal and Ankit Gupta collectively hold 54.87% stake in the company, with 18.29% each. Before this, the company had raised $3 million in a seed funding round led by early-stage venture capital firm Stellaris Venture Partners. For the year ended March 2024, Truva generated Rs 10.88 lakh in operating revenue and reported a loss of Rs 10.30 lakh, reflecting its early-stage, pre-revenue operations. The company is yet to file its financial statements for FY25.

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