HexaHealth Healthcare Platform Secures Rs 37 Crore in Series A Funding
HexaHealth, a prominent healthcare platform, is on track to secure Rs 37 crore (around $4.3 million) in its current Series A funding round. This initiative is led by Orios Venture Partners, with participation from Enzia Ventures and existing investors such as 3one4 Capital, Chiratae Ventures, and Omidyar Network.
According to its regulatory filing obtained from the Registrar of Companies (RoC), the board at HexaHealth has authorised a special resolution to issue 49,941 Series A3 compulsory convertible preference shares at a price of Rs 6,848 each to raise the targeted funds.
Orios Venture Partners is set to invest Rs 12 crore, while Enzia Ventures will contribute Rs 6 crore. Other investors including 3one4 Capital, Chiratae Ventures, ITI Growth Opportunities Fund, and Omidyar Network will each invest Rs 4 crore. The remaining funds will be provided by various individual investors.
The funds raised through this round are earmarked for working capital, marketing strategies, and general corporate needs, as stated in the filing.
Based on estimates from Startup Superb, HexaHealth is projected to reach a valuation of Rs 314 crore (about $37 million) following the allotment associated with this funding round.
Founded in 2021 by Vikas Chauhan (formerly a co-founder of 1mg), Ankur Girgas, and Aman Khanna, HexaHealth serves as a comprehensive solution for patients needing surgical procedures. The platform simplifies the entire surgical process—from the initial diagnosis and finding doctors to hospital admissions, insurance help, second opinions, financing options, and post-operative care—by collaborating with renowned hospitals such as Fortis, Artemis, and Manipal Hospitals.
To date, HexaHealth has successfully raised $11.5 million, including a seed round of $4.5 million in September 2021, as reported by various data intelligence platforms. After the current allotment, new investor Orios Venture Partners will hold a 3.82% stake, while 3one4 Capital and Chiratae Ventures will own stakes of 12.56% and 13.27%, respectively.
In a year-on-year comparison, the operating revenue of the Gurugram-based company more than doubled to Rs 17 crore in FY24 from Rs 8.2 crore in FY23. However, the net loss also increased by 39% to Rs 36.4 crore during the same timeframe.
