Wellthy Therapeutics announces a $4 million financing round led by Saama Capital
Photo: Taken from Wellthy Therapeutics website
Mumbai & Bangalore, Apr 13, 2020 – Wellthy Therapeutics, one of Asia’s leading digital therapeutics (DTx) companies, has raised $4 million (~30 crores) from Saama Capital, as part of its Pre Series A round for a ~16% stake in the company.
Wellthy Therapeutics works with leading insurance, pharmaceutical, medical device companies and large hospital systems to deliver clinically-validated digital therapies that improve the health outcomes and quality of life of those with a chronic condition. Apart from utilizing this raise to deepen its product-suite and expand geographically, the company will accelerate the launch of its respiratory digital therapeutic portfolio (amongst other new indications), which is especially relevant in the current situation.
“The success of our initial commercial launch in FY2019-20 with our pharmaceutical, insurance, medical device, and healthcare systems partners has shown us the scope of what is possible in augmenting patient outcomes. The success stories of our patients, their unique patient journeys and the data collected inspires us to invest deeper into clinical validation, product and distribution. We are excited to kickstart FY2020-21 with an incredible new shareholder on our cap table. The funding will allow us to invest further into improving patient outcomes and generate further real world evidence, while expanding our therapeutic portfolio, geographic and stakeholder reach.” says Abhishek Shah, CEO and Co-founder of Wellthy Therapeutics.
“Wellthy Therapeutics is bringing technology enabled, affordable digital therapeutics to make patient outcomes more accessible”, added Suresh Shanmugham, Managing Partner at Saama Capital. “The company uniquely combines real world evidence with clinically validated care pathways, to deliver its digital therapeutics across multiple therapeutic areas, via leading enterprise partners in healthcare, to patients in multiple countries. Wellthy Therapeutics has a unique opportunity to redefine chronic disease management, and we are excited to back their vision.”
As part of the deal, Suresh will be joining Wellthy Therapeutics’ Board.
Wellthy Therapeutics’ digital therapeutic platform is actively supporting prescribed patients in Cardiology, Diabetes and Nephrology conditions. The company has over 20 publications on its real-world evidence in multiple therapeutic indications.
About Wellthy Therapeutics
Wellthy Therapeutics is a digital therapeutics company that empowers and enables patients to prevent, reverse and control chronic illnesses. The company has active therapeutic indications in Hypertension, Dyslipidemia, Ischemic Heart Disease, Heart Failure, Type II Diabetes and Chronic Kidney Disease, with an upcoming pipeline in Respiratory indications. The company has operations in India and Singapore with its digital therapies currently available in multiple languages. The company’s real world evidence has been published in more than 20 publications across multiple therapeutic indications.
About Saama
Saama Capital is an early stage, sector agnostic, India-focused venture capital firm investing since 2006. The Saama team is currently investing out of its fourth fund and has built significant knowledge in several sectors including financial services/fintech, consumer product companies and SaaS. Previously, Saama has backed a number of India’s leading companies including PayTM, Snapdeal, Sula Wines, Veeba Foods, Lendingkart, Chaipoint, Raw Pressery, Vistaar Financial Services, EazyDiner and Fisdom.
