Chronic disease management firm Wellthy Therapeutics on Monday said it has raised USD 4 million (around Rs 30 crore) from Saama Capital as part of its pre series A funding round.
With the investment, the venture capital firm has acquired around 16 per cent stake in the company, Wellthy Therapeutics said in a statement.
Apart from utilising this raise to deepen its product-suite and expand geographically, the company will accelerate the launch of its respiratory digital therapeutic portfolio, especially relevant in the current situation, it added.
“The funding will allow us to invest further into improving patient outcomes and generate further real world evidence, while expanding our therapeutic portfolio, geographic and stakeholder reach,” Wellthy Therapeutics CEO and Co-founder Abhishek Shah said.
As part of the deal, Saama Capital Managing Partner Suresh Shanmugham will be joining Wellthy Therapeutics’ Board, the statement said.
“Wellthy Therapeutics has a unique opportunity to redefine chronic disease management, and we are excited to back their vision,” Shanmugham said. PTI AKT