Health tech platform Alyve Health on Tuesday said it has raised $5.5 million (over Rs 45 crore) in a Series A funding round led by Axilor Ventures. The investment round saw participation from 1Crowd Fund, an existing investor, as well as Inhealth Ventures, a healthcare-focused fund, the company said in a statement.
The company also raised venture debt fund from Trifecta Capital as part of this round, it added.
The new funds will be utilised for strategic growth initiatives across key areas like platform enhancement, talent acquisition, expansion of operations, amplification of services, and higher member engagement, Alyve Health said.
"This investment empowers us to continue innovating on our product and technology," Alyve Health Co-founder & CEO Shashank Avadhani said.
Alyve Health provides healthcare services to individuals, employers, and other businesses with plans covering multiple healthcare journeys like doctor consultations, diagnostics, medicine purchases, dental procedures, gym memberships, and proactive well-being, the company added.
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