Major Funding Announcement

Icanheal, a healthcare financing startup, has raised Rs 15 crore from early-stage venture capital firm IvyCap Ventures to enhance its platform and expand operations. The funding will support customized healthcare financing solutions for patients, especially those with critical care diseases like cancer.

 

Utilization of Funds

The funds will be used to scale operations, recruit more employees, invest in technology, and expand geographically. “This investment aims to bolster Icanheal’s platform, enhancing its capabilities to cater to millions of patients, particularly those facing critical care diseases like cancer, by providing customised healthcare financing solutions,” the company said.

 

Founders and Mission

Founded by Girish Poddar and Amit Backliwal, the Mumbai-based startup offers healthcare financing solutions tailored to each patient’s needs. “Healthcare in India is evolving rapidly and our platform aims to make advanced treatments more affordable and accessible to all patients. This funding will enable us to scale our operations and further our mission of improving healthcare outcomes nationwide,” the founders said in a joint statement.

 

Investor's Perspective

Commenting on the investment, Vikram Gupta, founder and managing partner, IvyCap Ventures, said, “Icanheal’s unique approach to improving healthcare affordability through customised financing solutions resonates deeply with our mission. By democratising access to advanced medical treatments and enhancing patient adherence, Icanheal is poised to make a significant impact in the healthcare sector.” Gupta will be joining the startup’s board.

 

About IvyCap Ventures

Founded in 2011, IvyCap Ventures has invested in around 50 companies spanning sectors such as healthtech, consumer tech, deeptech, fintech, edtech, agritech, and spacetech. On April 30, IvyCap Ventures announced the final close of its third fund at Rs 2,100 crore. Through this fund, the firm plans to invest in about 25 early-stage startups.

 

Recent Industry Developments

  • On May 29, ET reported that Y-Combinator-backed fintech startup BharatX acquired healthcare finance firm Zenifi, marking its entry into the medical lending segment.
  • On June 25, Cloudphysician, an online healthcare and technology solutions provider, raised $10.5 million in a funding round led by Peak XV Partners.
  • On June 18, ET reported that Healthtech startup Alyve Health raised $5.5 million from Axilor Ventures, with participation from existing investor 1Crowd Fund as well as healthcare-focused fund Inhealth Ventures.