Veda Corporate Advisors (Veda) was the exclusive financial advisor to the company
Hearing Solutions Private Limited (“Hearzap”) raised Rs 50 crore funding for a minority stake from a newly launched healthcare and life sciences-focused private equity fund of 360 ONE Asset Management Limited (360 ONE Asset”). The funds raised would be used for expanding its existing operations nationwide over the next 3years.
The company has a strong presence with over 90 audiology clinics-cum-hearing experience stores across 7 states offering complete comprehensive hearing care with a professional team of 100+ audiologists and exclusive partnerships with reputed international hearing aid brands
Veda Corporate Advisors ("Veda") was the exclusive financial advisor to the Company, the statement added.
Selvaraj Rajapandian, founder and managing director said, "This is a remarkable moment in the legacy of Hearzap. Our collaboration with 360 ONE amplifies our commitment to pushing the boundaries of what's possible in hearing health. The alarming rise in hearing health issues has driven Hearzap to pioneer tech-based solutions that cater to the diverse needs of those affected. Along our way, we faced notable challenges, including - Awareness, Accessibility, and Affordability in this realm, and were seeking out the right partners to walk our way in overcoming these aforesaid challenges."
Nidhi Ghuman, senior executive vice president of 360 ONE Asset said, “This is our first investment from our healthcare and life sciences-focused PE fund. It underlies our focus on identifying and investing in breakout opportunities in the healthcare space. Hearing Health is an attractive and growing market. We were deeply impressed with Raja and his team’s deep understanding of customers’ needs and the challenges of the market.”
360 ONE Asset Management, part of 360 ONE, is an alternate asset management firm with overall alternate assets and public market mandates of more than $7 billion. 360 ONE Private Equity (PE) is a private equity business with an AUM of approximately $2.5 billion and investment strategies extending from mid-stage venture capital to pre-IPO investments. It has backed several market-leading companies with a focus on healthcare, technology, financial services, and consumer industries.