Mumbai-based healthtech platform Alyve Health has raised $5.5 million in a series A funding round led by Axilor Ventures.

The funding will boost initiatives across areas including platform enhancement, talent acquisition, expansion of operations, amplification of services, and higher member engagement, the company said in a statement.

The funding round led by Axilor Ventures existing investors 1Crowd firm and healthcare- focussed firm In-health Ventures.

The investment round also included participation from existing investors 1Crowd and  healthcare- focussed fund Inhealth Ventures.

As part of this round, the startup also secured venture debt funding from Trifecta Capital, the company added. 

Alyve Health provides healthcare services to individuals, employers, and other businesses with plans covering multiple healthcare journeys like doctor consultations, diagnostics, medicine purchases, dental procedures, gym memberships, and proactive well-being. 

It has more than 1.1 million users with four offices and 108 employees and plans to increase employee count by 30 to 50 in the current financial year.

“This investment empowers us to continue innovating on our product and technology,” Alyve Health co-founder and chief executive officer Shashank Avadhani said.

The company had earlier raised $900,000 in a seed funding round from Axilor Ventures and 1Crowd Fund in April 2022.

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