Anurag Prasad

🏥 The Global Health Tech Boom: A VC's Playbook for US & India In the US, the consumer health tech market is expected to reach a whopping $400 billion by 2027, while India is experiencing a similar surge, with its consumer health tech market projected to hit a staggering $32 billion by 2025. As a VC actively investing in innovative health tech startups across both continents, here is what gets me excited: 🚥 Seed Funding ($0.5M-$5M): Focus on validation, not chasing unicorns. Early traction is crucial – think $300K-$2M in annual sales depending on your niche. Demonstrate efficient customer acquisition (sub-$30 CAC) and cultivate loyalty (lifetime value exceeding CAC). Most importantly, show product-market fit. A passionate user base willing to pay a premium is a winning formula. 🚥 Valuation: Seed-stage valuations are concept-driven. Expect a range of $3M-$15M, with a typical multiple of 5x-10x revenue. This considers market size, innovation, and team experience. 🚥 Series A ($10M-$20M): Scale-up time! We look for 2x-4x YoY revenue growth and a minimum of $2M in annual sales. This validates your customer acquisition strategy and a repeatable sales engine. Retention remains king! High customer retention signifies a strong brand connection and sustainable growth. 🚥 Valuation: Early traction and a clear path to profitability are essential. Series A valuations can range from $10M-$30M, with a typical multiple of 4x-8x sales. Revenue growth, market potential, brand strength, and team expertise influence this multiple. 🚦 Decoding Valuation in Global Health Tech: ⚡ Market Potential: A large addressable market with room for significant brand capture is key. Think millions of potential customers! ⚡ Profitability Path: Growth is exciting, but we need a data-driven roadmap to profitability, consider factors like insurance reimbursement models, pricing strategies etc. ⚡ Brand Strength: Show us metrics like social media engagement, brand mentions, and positive user sentiment. A strong brand can command a premium valuation. ⚡ Customer Empathy: Consumers are value-conscious and diverse. Deeply understand your target audience and tailor your product accordingly. ⚡ Passion is Key: Demonstrate your passion for transforming healthcare delivery on a global scale. 🚥 Key Areas of Opportunity: These areas hold immense potential: ⚡ Telehealth & Remote Patient Monitoring: Simplifying access to quality healthcare for remote populations. ⚡ Chronic Disease Management: Offering personalized solutions for managing chronic diseases like diabetes and heart disease. ⚡ Mental Health & Wellness: Address growing need for mental health support through accessible and affordable solutions. ⚡ AI-powered Diagnostics & Treatment: AI to improve healthcare accuracy, efficiency, and affordability. ⚡ Preventive Health & Personalized Medicine: Fostering proactive health through personalized preventive care and wellness solutions. 🗣 Love to hear from HealthTech Startups! 🏥

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Who exactly is losing market share in the hotly contest grocery commerce? I thought it must be the now-not-so modern retail, but I'm not so sure. Zepto raised $665 Mn at a valuation of $3.6 Bn, and is in talks to raise $250 Mn more. And their cofounder and CEO Aadit Palicha recently commented that they can beat DMart - Avenue Supermarts Ltd on GMV in the next 12-18 months. Swiggy Instamart also is growing, and Blinkit is likely to be more valuable than their owner Zomato itself - so they are all doing well, even if Dunzo isn't. Sure, no idea what JioMart Digital is doing, but deep pockets. Same with Tata Digital and their weird assortment forced to converge on Neu. bigbasket.com is trying to unlearn and relearn, and it just might. And Flipkart Grocery and Amazon Fresh are also upping their game - launching faster deliveries, discounts, improved fill rates, and selection. So I wonder if it is the modern-trade players? The likes of More Retail Private Limited, Spencer's Retail, STAR BAZAR, and SPAR Retail that are suffering? The nearest Spencer's to me is definitely a sore sight, now reduced to a shell of it's former glory - I think they aren't even replenishing inventory now. And we all know what happened to Big Bazaar - Future Retail. But Dmart itself isn't doing half bad - with pareto presence in just 23 cities, and no presence in UP (except NCR), Bihar, and West Bengal, they have considerable headroom, still. And they haven't yet quite solved for ecommerce, so while The Ken says that they are lost, they may find their way, eventually? I also don't think that the real consumption is growing, if at all, it may even shrink with the K-growth. Thus, some one _is_ losing share. And if it is not modern trade, then is it the regional chains? The single kiranas? The corner-store? The hand-cart? I'm not entirely sure because this data is hard to organize, and get. Would you know? Image created by AI in Microsoft Bing Copilot.

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Kenko Health: From Skyrocketing Growth to Sudden Shutdown Kenko Health’s story was one many startups dream of—rapid growth, big-name investors, and a solution that promised to transform healthcare access. But in a flash, they’ve gone from a company with ₹85 crore in revenue to shutting down operations. What happened? Well, picture this: You’re climbing Everest. You’ve got a great climbing team, amazing resources, and you’ve trained hard. You have got a good chunk of international trainers who have been helping you get there and the local sherpas who are going to provide you with all the necessary equipment to reach the summit. The summit is in sight, but then the sherpas wants the climbing team to be mostly domestic leading to distress among the international trainers who have been helping you reach there. They can't turn their backs now and go back since they are equally invested in making the summit happen. Local Sherpas= Domestic regulator who gives out the coveted Insurance License (summit) International Trainers/ Team Members= Foreign Investors Kenko grew revenue 17x in one year, rising from ₹5 crore in FY22 to ₹85 crore in FY23. Impressive, right? Yet, despite their successes, they stumbled on a critical hurdle: securing an insurance license from the Insurance Regulatory and Development Authority (IRDAI). We all saw the potential. With Lightrock, Peak XV Partners (Sequoia Capital), BEENEXT backing Kenko, the startup seemed destined for greatness. But behind the scenes, things weren’t as perfect. Kenko’s quasi-insurance model worked brilliantly at first, providing affordable subscription health plans. But when it came to the regulatory complexities of acquiring that golden insurance license, things fell apart. They had the customers, the revenue, and the drive, but when the insurance goal became unreachable, the air thinned out. They even had investors lined up for a $27m Series B round—money that would have given them the capital cushion to survive. But then, to receive the insurance license, there were problems. The regulator wanted domestic investors to lead the charge. This, of course, caused a massive restructuring headache. Suddenly, the founders were caught between a rock and a hard place—international VCs on one side, domestic regulatory requirements on the other. And then, the final nail in the coffin—Kenko ran out of money. Even though the founders personally infused ₹9cr to keep the ship afloat, it wasn’t enough. By early 2024, employees weren’t getting paid, debts were mounting, and Kenko’s shutdown was all but inevitable. But this isn’t just about Kenko. It’s a case study on how regulatory hurdles can undo even the most promising companies in the startup ecosystem. Could this have been avoided? #kenko #insurtech #fintech #india #startups ------------------------------- 💡 I write interesting posts every week about my thoughts on the startup ecosystem, AI & disruptive technologies. Do follow Sabhareesh M for more!

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Optimising for survival vs valaution During my previous startup journey My Dream Store we grew from 3cr annualRevenue to 30cr annual Revenue in 24 months and we were on look out for series A of 5Mn usd , Talked to almost every VC in town by that time we have only raise an angel round of 300k usd only. Everything was green we were super ambitious , stayed in market for 3 months could not close . During this time there were few Angel groups who could write 500k to 1mn cheques but we thought it would be too small for our ambitions. We went back to building again - our growth began to drop and became flattish at 2cr monthly revenue , we went back to market to raise 2Mn after 1yr to market to a different set of VCs - very hard to raise on back of degrowth, we were willing to dilute more but yes could not close. Lesson learnt always raise when you are going to peak in the next 3-6 months. As founders we would be focused on growth during that cycle but it’s better to put more money in war chest. Back to story one more year passed on flattish growth, we did some working capital solves , cut expenses we de grew to 1.5cr monthly revenue . Was again out in market this time looking for Angels founder angels or syndicates to raise 500k to 2Mn to build back. I was almost on verge of giving up but then Sujayath Ali wrote a small cheque gave us hope to rethink and started building Nobero. Only a founder can truly understand the grit and struggle. Now Nobero is a rocket ship we are super excited along side strong partner like TMRW House of Brands . From my journey of fundraising failures here are something’s that other founders / people who want to start can pick up 1. Always raise when you are on the raise 2. Do not be finicky about valuation pick best of what you are getting and go back to building 3. Like you see in my essay I moved down from 5Mn to 2Mn to 500k , very foolish . In hindsight had I picked the 500k to 1Mn cheque when we were at 30cr the story would have been totally different . Pick whatever you can at best price you can close fast. The art is to close deal fast and move from position to position strongly on back of good metrics 4. Small cheques get large cheques , you are no longer alone in journey. It’s in interest of all parties to protect org and do what is right for org to grow 5. Fundraising is sales , be very strategic of what you offer -if you are degrowing offer a larger share, create phased offers milestone led - 500k to x size and if I hit X follow on with 2Mn if I do not grow to X be willing to take more hit on equity. Always offer what others cannot 6. Have some founders on your cap table who have been part of these , it’s millions saved #fundraising #startup #lessonsbuildingnobero

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Andrew Ng’s AI Fund has made its first investment in India. Backing an AI Healthcare startup in Gurugram. Jivi Founded in 2023 by Ankur Jain (ex-Chief Product Officer at BharatPe) AND GV Sanjay Reddy (Chairman, Reddy Ventures) Jivi is using AI to transform healthcare delivery. 1) Diagnostics- AI-powered diagnoses and treatment suggestions. 2) Health Reports- Personalized reports from millions of medical journals. 3) Admin Efficiency- Automating tasks to free up healthcare professionals. Platform supports over 20 specialties. Partnering with 100+ Doctors and Hospitals to assist with. India’s AI market projected to hit $22 billion by 2027. Startups like Jivi play a major role in solving healthcare challenges through innovation.

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Healthtech startup Orange Health has raised $12 Mn (INR 101.5 Cr) in an undisclosed funding round led by Amazon Smbhav Venture Fund👇 The round also saw participation from a host of existing investors, including Accel, General Catalyst, Bertelsmann India Investments and Y Combinator. The Bengaluru-based company plans to use the fresh capital to grow its team, product expansion and drive further innovation in diagnostics. Orange Health’s latest round takes its total funding round to $47 Mn till date. Founded in 2020 by Gupta and Bhambra, Orange Health is an on-demand diagnostics service provider. It competes with the likes of Practo, Redcliffe Labs and PharmEasy in India. In 2022, the startup raised $25 Mn in a Series B round led by Bertelsmann India Investments and General Catalyst. 🔗To read the in-depth article, click here: https://4-2.co/3CYVVIL #news #healthtech #startup #fundraising

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Taking the HARD FACT path. MatchDay Health is undoubtedly taking Path #2 based on Sequoia Capital product market fit framework. The status quo around jobs has always been. Job board > apply to jobs >get interview > get offer > accept offer. We have been brainwashed to believe this is the path to landing a job. I have never personally landed a job this way. It work's, but it's not the ideal path. Also, who the heck said that this was the only way? Would you list your home on the market without an agent? Maybe. Would you get the best offer? Would you get the best buyer in the fastest amount of time? Probably not. The job market has been one sided for so long, without proper representation for job seekers. Taking the HARD FACT path means we are changing the status quo. Making professional EXPERT representation in the job market the new smart approach.

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Early stage founders who are ready with MVP or early traction, connect with Pod Invest they will make your life very easy. DM if you want me to introduce you. Great initiative by Vittal Ramakrishna for the #earlystage startup ecosystem #earlystage #founders #preseed #funding

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Great insights for anyone building any business.

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🚀 ORANGE HEALTH Secures $12 Million in Funding to Revolutionize Diagnostics ORANGE HEALTH, a healthcare and diagnostics startup founded by Tarun Bhambra & Dhruv Gupta, has raised $12 million in a funding round led by Amazon Smbhav Venture Fund. Other investors include Accel, General Catalyst, Bertelsmann Investments, and Y Combinator China. This brings their total funding to $47 million, which will be used to enhance product offerings and expand their team. Industry Overview: The diagnostics sector in India is rapidly evolving, with increasing demand for accessible healthcare services. ORANGE HEALTH taps into this growth by providing on-demand, at-home sample collection for diagnostics, currently serving major cities like Bengaluru, Delhi, and Gurugram. The startup has already impacted over 1 million homes, operating six labs and partnering with over 1,000 clinics. Unique Proposition: Founded by Dhruv Gupta and Tarun Bhambra in December 2020, ORANGE HEALTH stands out for its customer-centric approach—offering on-demand diagnostic services with a seamless experience. The company has achieved profitability in Bengaluru and is on a 100% growth trajectory, catering to urban customers looking for convenience and reliability in healthcare. Key Takeaways for Entrepreneurs: 1. Solve real customer pain points: Focus on addressing genuine market needs. 2. Leverage technology for scalability: Build systems that support rapid growth without compromising quality. 3. Build strong partnerships: Strategic collaborations can expand your reach and enhance service delivery. 4. Adapt and innovate: Keep evolving to stay ahead of market trends. 5. Sustain growth with solid foundations: Focus on profitability and long-term strategy before expansion. Follow Maharshi Ganatra for Business, Investment and Finance tips.

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"India has among the highest out-of-pocket expenditures in healthcare in Asia, with 48.2% of healthcare expenditure being incurred by patients. 1 High out-of-pocket expenditures have increased poverty, pushing 55 million people below the poverty line every year. 2 While the government continues to take significant steps to bridge the healthcare financing gap, the role of the integrated healthcare financing ecosystem continues to gain significant importance in the country. This prominence of healthcare financing has brought about certain crucial trends to the fore." Pleased to share that my thoughts on the integrated healthcare financing ecosystem have been published in India's leading financial media publication, The Economic Times BFSI. https://lnkd.in/dwdh8CiK

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In the MedTech startup world, it's not just about creating high-quality medical devices. You also have to tackle challenges like mindset, funding, collaborations, resistance, and regulations. MedTech is a long-term industry, one should not expect quick wins in terms of revenue. Remember, we live in a society where health is not given that much priority until the condition is severe or evident. We need to change how people see MedTech startups in India. Otherwise, we might just become a social venture, and to me there's nothing wrong going this way as well. We start our journey with a ground level pain, and if we are able to cure that pain to save/improve/impact even a single life, our most of the jobs are done. #healthcare #startup #medtech #business

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Raising Funds, Losing Control: The Dilution Dilemma In the startup world, raising capital is often celebrated as a major milestone. But what if I told you that every funding round comes with a hidden cost? When you raise money, you're not just gaining resources—you're also giving away a piece of your company. This is the dilution trade-off. Why does this matter? • Ownership: Each round of funding dilutes your ownership stake. Over time, this can significantly reduce your control over the company you built from the ground up. • Decision-Making: With more investors comes more opinions. This can complicate decision-making processes and potentially steer your company in directions you didn't originally envision. • Long-Term Vision: Dilution can impact your long-term vision. As your stake decreases, so might your influence on the company's future. A Personal Insight: At a recent networking event, I spoke with a founder who had just closed a round. They shared the tension they felt from their (new) board, who were pushing for rapid growth while also demanding profitability. This pressure to achieve ambitious targets without additional resources highlighted the real challenges of dilution and the complex dynamics it introduces. What can you do? 1. Be Strategic: Carefully consider the amount of equity you're willing to give up. Sometimes, less is more. 2. Negotiate: Don't be afraid to negotiate terms that protect your interests and maintain your vision. 3. Stay Informed: Understand the full implications of each funding round. Knowledge is power. Raising funds is a double-edged sword. Celebrate the milestones, but stay vigilant about the trade-offs. Your future self will thank you. #startups #entrepreneurship #venturecapital #dilution #founders

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CHANNELIAM FUNDING TRACKER RECENT UPDATES 1.    Chosen® Raises USD 1.2 Mn in Seed Round 2.    Clodura.AI Raises USD 2 Mn from Bharat Innovation Fund 3.    Digital marketing automation #startup Maino.ai raises $1.8 Mn 4.    #Healthtech startup DocPlix raises Rs 1.2 Cr in bridge round 5.    Speciality chemicals startup Scimplify to raise $5 Mn 6.    Robinhood acquires Bitstamp in $200M deal to expand #crypto presence globally #funding #startups #businessnews #channeliam

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One of the key factors in Healthcare startups fizzling out is there is no focus on ROI on sales. Essentially selling a product with low value but with high acquisition costs initially. Idea being lifetime value and aggregator effects will work out later But most startups invest heavily on sales once some funds are secured and then hope.Healthcare sales is expensive because mostly doctors are difficult to get a facetime and more difficult to convince If initial ROI not there then difficult to convince investors for reinvestment and therefore difficult to sustain sales efforts. What do you think? #healthcare #startups

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🚀 This healthcare Startup Raises $304 Million Series D Funding at a Valuation of $2.1 Billion 🚀 MEDABLE LIMITED , the leading platform for decentralized clinical trials, has achieved a significant milestone, securing a substantial Series D funding round totalling $304 million. This funding round has propelled Medable to a valuation of $2.1 billion, solidifying its position as a trailblazer in the clinical trial technology industry. 🤝 Success Highlights: 1️⃣ Medable's decentralized clinical trial platform is celebrated for its innovation, patient-centric approach, and potential to transform traditional clinical research. 2️⃣ Strategic collaborations with top pharmaceutical companies and research organizations enhance trial accessibility and effectiveness, driving faster and more inclusive clinical outcomes. 3️⃣ Medable's relentless focus on expanding its technological capabilities and global reach underscores its commitment to advancing clinical trial efficiency and patient experiences. 👉🏻 Key Highlights: 1️⃣ Achieving the $2.1 billion valuation milestone reaffirms Medable's influence and leadership within the clinical trial technology ecosystem. 2️⃣ The Series D funding round, totalling $304 million, has attracted top-tier investors, showcasing strong confidence in Medable's growth trajectory and market potential. 3️⃣ Continuous enhancement of the decentralized clinical trial platform exemplifies Medable's dedication to meeting the evolving needs of patients and researchers in a dynamic healthcare landscape. 👉🏻 Let's Dive into Medable's Phenomenon: 🔷 Culture of Innovation: Medable's success is driven by its innovative culture and visionary team, continuously advancing decentralized trial technology and reshaping clinical research methodologies. 🔷 Industry Leadership: Medable's $304 million Series D funding and $2.1 billion valuation highlight its leadership in decentralized clinical trials, signalling robust investor confidence in its potential to revolutionize clinical research and patient care. 🔷 Setting the Benchmark: Medable's journey from inception to industry leader exemplifies strategic growth and innovation. The significant funding reflects its compelling vision and transformative impact on the clinical trial industry. 🔷 Identity and Impact: Medable's identity embodies innovation and impact, with a steadfast commitment to enhancing clinical trial technology and fostering partnerships that benefit patients and researchers alike. 💬 Point of Thought: Medable's recent Series D funding round and impressive valuation underscore its pivotal role in transforming the clinical trial landscape. Let's continue to push the boundaries of clinical trial technology and forge new paths in healthcare together! 💪 ➕ Follow Shilpi Kumari for more insightful updates. #clinicaltrials #healthcaretechnology #innovation #fundraising #Medable #venturecapital #linkedin

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The #startup world is often #glamorized. Images of overnight #successes and #billion-dollar exits flood the headlines. But what they don't tell you is this: -------------------------------------------------------------------- The true magic of startups lies not in the #destination, but in the #journey itself. -------------------------------------------------------------------- Forget the idea of a "stable exit strategy" with a perfectly polished product. That might be the safe route, but it's rarely the fulfilling one. #Building a startup is about #pushing your #limits, venturing into the #unknown, and defying #expectations. It's about the countless nights fueled by #passion and coffee, the exhilarating moments of #breakthrough, and the inevitable #challenges that will test your resolve. This isn't to say that #financial success isn't a #goal. It absolutely can be. But it shouldn't be the sole #motivator. -------------------------------------------------------------------- The most #rewarding startups are built by those who are driven by a deeper #purpose. -------------------------------------------------------------------- They're fueled by the desire to create something groundbreaking, to #disrupt the status quo, and ultimately, to #scream with exhilaration: "#Wow, what a #ride!" So, if you're considering taking the plunge into the startup world, don't be discouraged by the romanticized notions of success. Embrace the messiness, the late nights, and the ever-changing landscape. -------------------------------------------------------------------- Because when you look #back, it's not the finish line that will #matter most. It's the incredible #journey you took to get there. -------------------------------------------------------------------- A journey filled with lessons learned, boundaries pushed, and a resounding, "Wow! What a ride!" #beingEntrepreneur

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