The company aims to use these funds to launch services and boost the rising digital healthcare sector in India.
Phyt.health has successfully raised a seed fund of $ 1.5 million from US-based private investment company Lunsford Capital. Other participants in the round include founders Darpan Saini & Snehal Fulzele, both seasoned entrepreneurs who previously founded fintech company Cloud Lending Solutions which was acquired in 2018 for nine figures.
Phyt Health is a computer vision and AI-enabled physiotherapy platform that delivers better and more affordable care to patients, and increased revenue for providers. Their technology optimizes physiotherapists’ time, encourages patients’ adherence to their treatment plan, and provides a continuous PT-Patient engagement model.
The company aims to use these funds to launch services and boost the rising digital healthcare sector in India. With these funds Phyt.health will expand operations in major metros and Tier II towns. The company is also in talks with major healthcare providers for using their software.
“Online healthcare is a growing trend in India and has been accelerated by COVID as more people prefer treatments from their home. We believe some of these behaviors will become permanent post COVID as the country returns to normalcy,” remarks Darpan Saini, CEO & Co-Founder, Phyt.health.
He further added, “Physiotherapy is no different. However to make online physiotherapy effective, we have invested significantly in our computer vision and AI based technology. With the help of our technology our physios can objectively measure outcomes and adjust treatment plans accordingly. Patients on the other hand remain engaged throughout the treatment period via augmented reality-based exercise games. With this round, investors have backed Phyt Health’s core team and our track record of running successful and capital efficient businesses.”
The advancement in technology has widened the scope of digital health but delivery of quality healthcare services is still a big concern in India. With Phyt.health, both Darpan and Snehal’s motive is to enable physiotherapists to remotely monitor, stay connected and supervise patient rehabilitation via smartphone based computer vision technology. Phyt.health also plans to distribute digital physiotherapy technology as a white labeled service to healthcare providers in the coming time.
Phyt.health was started as Gryt.fit and has pivoted to Digital Physiotherapy. Phyt.Health’s physiotherapy platform is clinically proven to help patients recover faster and reduce their medical expenses.
Source: Business World