Healthtech platform Alyve Health has successfully raised $5.5 million in its Series A funding round, which was led by Axilor Ventures. The round also saw participation from existing investor 1Crowd Fund and healthcare-focused Inhealth Ventures. Additionally, Alyve Health secured venture debt funding from Trifecta Capital as part of this round.

This significant infusion of capital follows Alyve Health’s previous seed funding round in April 2022, where the company raised $900,000 from Axilor Ventures and 1Crowd Fund.

Alyve Health plans to use the new funds to drive strategic growth initiatives across several key areas. These include enhancing its platform, acquiring top talent, expanding operations, amplifying service offerings, and increasing member engagement. The company emphasized these points in a recent press release.

Founded in May 2020 by Shashank Avadhani, Sushant Roy, and Vineet Mehta, Alyve Health offers comprehensive health plans that cater to a wide range of healthcare needs. These include doctor consultations, diagnostics, medication purchases, dental procedures, gym memberships, and proactive well-being services.

The platform is designed for seamless integration with various stakeholders in the healthcare ecosystem, including payers (insurers, TPAs), intermediaries (brokers, financial institutions, digital platforms), and providers (clinics, diagnostic centres, fitness studios). Alyve Health’s tailored solutions serve diverse groups such as employees, customers, and channel partners, currently covering over 1 million members.

Axilor Ventures, the lead investor in this round, launched its second technology fund worth $100 million in July 2022. Since then, it has supported several innovative startups, including LeRemmit, Doppelio, Solar Ladder, and Metalbook.

With this latest funding, Alyve Health is well-positioned to accelerate its mission of transforming healthcare delivery and expanding its reach in the market.