Saturday, March 02, 2024
Outlook.com
Outlook India
Outlook Business

Health Start-Up Optimizers Clinches Seed Round Funding, Led By Finvolve And India Accelerator

The company plans to utilize the funds to propel growth of Hospital-based Optical Retail Chain in new territories

Health Start-Up Optimizers Clinches Seed Round Funding, Led By Finvolve And India Accelerator

Outlook Start-Up Desk

POSTED ON January 30, 2024 6:01 PM

Optimizers, a hospital-based optical retail chain, incubated by India Accelerator, has recently raised an undisclosed amount of funding in the seed round led by Finvolve.  

The round also witnessed investments from other players through the Brew Opportunities fund and Recyclean Infotech Private Limited. 

The company added in a statement that the raised funds will be employed to expand its footprint in key regions and broaden its state coverage throughout India.  

“Additionally, a portion of the funds will be allocated for strengthening LitHous Training Academy, advancing ERP, and acquiring sufficient inventories to support the expansion,” the statement added. 

Founded in 2020, Optimizers is a hospital-based optical retail chain that partners with leading corporate hospitals like EyeQ Superspeciality Eye Hospitals, Institutes like CL Gupta Eye Institute, and renowned private and charitable hospitals across Haryana, Punjab, Delhi, UP, and Rajasthan. 

Saurabh Bhatia, co-founder and director of Optimizers, said that the secured funds mark a positive stride forward, bringing us closer to our ultimate objective. These resources will be deployed to enhance operational capabilities and drive nationwide expansion. 

Commenting on the funding, Munish Bhatia, co-founder, of India Accelerator and Vertical Partner -Impact Labs, said, “Aside from being their first institutional investors, we are proud to be supporting the team on a mission to eradicate curable blindness from India by connecting them with networks of doctors and helping expand to other geographies in India.” 

Investments in healthcare have seen a surge in the country. In its recent Annual Global Healthcare Private Equity Report, Bain and Company observed that the healthcare sector remained strong in 2023, especially in India, where there were 22 deals worth $4.6 billion. slightly lower than the $4.7 billion recorded in 2022, the industry continues to attract significant financial activity. 

The report highlighted that India stands out as the main force expanding Asia-Pacific’s share of global deal activity, accounting for roughly 30 per cent of the region’s deal value from 2022 to 2023. 

  • Related Articles

    The company said that quality evaluation was conducted through a comprehensive analysis of customer reviews, ratings, and feedback

    Meesho Delists 2 Lakh Products After Quality Check; To Reduce Visibility Of Low-Rated Items

    Stakeholders expect the government to use the tech stack and digital infrastructure to make affordable healthcare accessible in the country's remote corners.

    Budget 2024: Health-Tech Sector Wants Digitisation To Bridge Urban-Rural Divide

    According to a report by TechCrunch the recent valuation adjustment is a result of a secondary sale transaction late last year, valuing Meesho at $3.5 billion

    Fidelity Marks Down Meesho Valuation Further To $3.5 Billion: Report