Mumbai: Ayu Health Hospitals has raised $27 million in its Series-B funding round, led by The Fundamentum Partnership. The company said it would use the funds to expand its hospital network and invest in technology.

The funding round saw participation from 57 Stars, Capier Investments and angel investors including Ashish Gupta, Khadim Batti and Vara Kumar. Existing investors Stellaris Venture Partners, Vertex Ventures and Alteria Capital also participated, the company said in a news release.

Ayu Health had raised $6.3 million in its Series-A round from Vertex Ventures and Stellaris Venture Partners in September 2021.

Founded in 2019 by Himesh Joshi, Arjit Gupta and Karan Gupta, Ayu Health is a network of hospitals offering advanced treatments. It currently works with more than 70 hospitals across Bengaluru, Chandigarh, the National Capital Region and Jaipur, serving over 2,000 patients every day.

“With the addition of 4,000-plus beds in multiple locations across India, the organisation is set to become the largest hospital chain in the country by the end of 2022,” the release said.

“We are now well-positioned to take this model to more geographies and are targeting a network of 200+ hospitals and 10,000+ beds by Dec 2022, ensuring high-quality healthcare for all,” said Joshi, who is its chief executive.

“Tech hasn’t created a meaningful dent in the healthcare space so far, especially in-hospital care. We are focused on changing that,” said chief technology officer Arjit Gupta.

“The last two years have demonstrated an urgent need for tech-driven disruption in the healthcare space in order to build solutions that can provide efficient, affordable and quality care,” said Prateek Jain, principal, Fundamentum Partnership. The Fundamentum Partnership is an early-growth-stage fund founded by Nandan Nilekani and Sanjeev Aggarwal.

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