B2B healthtech platform for insurers and pharma companies Watch Your Health has raised $5 million funding from early-growth stage venture capital firm Cornerstone Ventures and Singapore-based investment firm Conquest Global, the company announced on Tuesday.
The company said the fresh capital infusion will help expand its operations and grow its user base in India and internationally by expanding its sales team.
Founded in 2015, Watch Your Health said it leverages AI-driven analytics and personalised health insights to empower individuals and organisations to proactively manage their health and well-being.
Speaking on the fundraising, Ratheesh Nair, Co-founder, Watch Your Health, said that the investment would enable the company to enhance its technological infrastructure, expand its user base, and introduce innovative health management solutions.
“Our mission is to transform the way people manage their health by leveraging AI-driven insights and personalized care,” said Nair.
The global digital health market is likely to grow to $509.2 billion in size by 2025, the company said as it aims to introduce electronic behaviour records, mental health support, advanced predictive analytics for disease prevention, chronic disease management and post-hospitalisation care programmes.
“It (Watch Your Health) not only improves persistence with intelligent algorithms to enable underwritten premium discounts but more importantly improves health and wellbeing with this continuous engagement leading to lower claims for insurance companies,” said Nanika Kakkar, Partner, Cornerstone Ventures.
Watch Your Health said it partnered with multiple healthcare providers to integrate their services into its platform for instance Watania Takaful and Shalina Healthcare in the UAE.
According to a report by Bain & Company in March this year, healthcare innovation in India is currently a $30 billion opportunity, dominated by pharma services and healthtech; biotech and medtech are nascent but witnessing green shoots. The market is expected to grow to around $60 billion by FY28, accompanied by structural ecosystem changes like consolidation, a shift in profit pools, and partnerships, as per the report.
