Fix Health Raises $350,000 In Pre-Seed Funding Round Led By Better Capital The platform aims to use the funding to grow its engineering and customer experience team to establish a robust platform for scale
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Online physiotherapy and pain relief startup Fix Health on Wednesday announced to have raised $350,000 in a pre-seed funding round led by Better Capital. The round also saw participation from Snapdeal founders Kunal Bahl and Rohit Bansal's Titan Capital and BITS Pilani angel investors Sarath Sura, Venu Palaparthi, and V.P. Rajesh.
The company plans to use this round of funding to bolster its engineering and customer experience teams with stellar talent as it brings an on-demand live one-on-one treatment delivered by certified physiotherapists via video.
With the vision to bring pain relief to millions of people, digital physiotherapy was started in March 2020 by BITS Pilani alum Ashutosh Mundhada and Dr. Sheetal Mundhada, the company saw instant uptake of its online physiotherapy service as it spread to more than 100 cities in a matter of months.
"Back and joint pain is a large and growing problem around the world. With Fix Health, we are solving for access to high-quality physiotherapy care. Our online service is as effective as offline care as it is based on first principles. Also, it is really easy to adhere - with zero travel and wait time, patients can conveniently fit online treatment in their daily schedule," said Ashutosh Mundhada, co-founder and chief executive officer, Fix Health outcomes, the company claims to hit instant success with these results in its first 150 days with over 2500 treatment sessions and 63 per cent month-on-month growth in revenue.
It is also creating a first-of-its-kind opportunity for physiotherapists who can enroll with the startup and offer online physical therapy sessions and create a consistent revenue stream for themselves. The company aims to onboard 1,000 physiotherapists over the next 12-18 months, the statement said.
"Everyone who uses Volini or painkillers is a customer for us. These are temporary solutions for more than 200 back and joint pain conditions that affect millions of people. With Fix Health goal is to make getting rid of the pain as simple as streaming a Netflix movie. We are excited to partner with YourPhysio at the founding stage to build a service that will positively impact millions of people around the world," added Vaibhav Domkundwar, founder and CEO, Better Capital.
In India alone, over 220 million people suffer from musculoskeletal conditions that affect joints, bones, muscles, and ligaments - conditions that can be treated successfully via online physiotherapy sessions.
The India opportunity is pegged at $5 billion and growing. There is also a global opportunity as the company has already delivered online physiotherapy for users in multiple countries. With the spread of smartphones and 4G data connectivity, the timing is apt for its vision as users from metros as well as smaller towns have already availed of its service successfully.
