This funding round will be deployed by Spry to bolster its product development function, expand and strengthen its market share in India, and kick-start its go-to-market (GTM) strategy in the US.
Spry, India’s first management, communication and assessment SaaS based platform for movement health industry, today announced that it has raised USD 3 million in a seed funding round from a clutch of key investors. The round was led by Together Fund, India’s first founder-led VC fund. It also saw the participation of a number of other prominent names including FJ Labs, the VC firm of OLX co-founder Fabrice Grinda, Pareto, the early-stage venture capital firm by Shutterstock founder Jon Oringer, Knowledge Capital, AngelList, Whiteboard Capital, founders of Silicon Valley-based healthcare SaaS company Innovaccer, C-suite executes from multinationals such as Blackrock, TPG, Softbank, Qualcomm, and the founders of several Indian SaaS companies, among others.
Founded in 2021 by Ola’s ex-CTO, Brijraj Bhuptani and Riyaz Rehman, Spry aims to democratise the accessibility and affordability of movement health through its full stack digital health platform. It is India’s first vertical SaaS that enables practitioners and business owners of physical therapy centers to manage all their clinical and administrative functions using a single tool. Spry supports all critical functions of the clinic right from scheduling to patient intake and communication, assessments, EMR, home exercise plans, adherence tracking and patient lifecycle management.
Spry’s blended care model uses computer vision and machine learning to digitise clinical and administrative functions for physical therapy practitioners and caregivers. On the patient side, the automation of assessments and feedback improves visibility and insight into this care progression. The end result is better adherence to programmes and improved health outcomes.
This funding round will be deployed by Spry to bolster its product development function, expand and strengthen its market share in India, and kick-start its go-to-market (GTM) strategy in the US.
“Professional athletes and sports people spend enormous amounts on mobility and conditioning to ensure their bodies remain in peak physical condition. Movement health plays a critical role in the overall wellness of every human being, and as such should be accessible to everyone. Everyone deserves to lead a pain-free life and more importantly have the freedom to pursue what they want to be, be it weekend warriors, sports enthusiasts or even those who want to be fit enough to play with their kids . That was the genesis of Spry,” said Brijraj Bhuptani, Co-Founder and CEO of Spry.
“Movement health is not monitored regularly. This is mainly because unlike diabetes and cardiac health there are no quantifiable indicators checked for overall mobility and conditioning to raise a red flag or nudge a person towards making lifestyle changes. Our approach to it is reactive, and we only begin taking steps towards treating it when the pain grows too severe to manage. Through Spry, we aim to democratise access to movement health, and help people incorporate it into their daily routines rather than opting for it as a quick fix solution.” He added further.
“Our aim, at Together, is to invest in startups which are building products for the world, out of India. We believe that movement health is an issue plaguing the world and Spry’s tech first approach and the team behind it makes it a forerunner in the space. The founders aren’t new to solving large problems at scale. Brijraj was the founder of Ridlr, an end-to-end public transportation and commuting app, which was eventually acquired by Ola. He was then the Chief Product and Technology Officer (CPTO) at Ola until very recently. Riyaz was an integral part of the Ridlr journey as Chief Business Officer (CBO) handling relationships with large public organisations.” commented, Manav Garg, Managing Director, Together Advisors.
With individuals being more accepting of digital health solutions, investments in the space have rapidly picked up. Despite this, the digital health framework in the movement health industry is highly fragmented and in early stages leaving a lot to be done. Spry aims to capitalize on this shift. Spry’s blended care model enables healthcare providers to save significant capital and time through the digitisation of clinical and administrative functions, while patients have improved access and insight into the options available to them and the progress of their treatments. This creates a win win situation for the major stakeholders, which in turn will help to move the industry forward .
Source: Business World
