Healthtech startup Hav. has raised $400,000 in funding round led by US-based VC StartUp Health.
Other marquee investors including Sudheer Nair (Chairman, Navio Group), Vijay Seshadri (ex-Board Member, Chargebee), Shihab Muhammed (Founder, SurveySparrow & ex-Co-Founder, Freshworks), Sudi Navile (Ex-Divisional CIO, Oracle), Rahul Nambiar (Board Member, Dentsu Indonesia), Faiz Mohamed Haneef (CEO, NeoITO), Navin Jain (Country Head – Indonesia, Mastercard), Stan Kuruvilla (ex-PayPal) Madhu Bhaskaran (Samagra), Akshit Goyal (JKGA Law), Senu Sam (Founder, Mykare) & K Gopala krishnan (IAS), also participated in this round.
Hav. was founded in 2021 by Abdul Paravengal along with Lajesh Kolath and Sajith Nair, It is a free app that tracks various health parameters to help reduce the chances of lifestyle-related diseases for people aged 20-40 years in the middle-income and below-aged.
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The startup has formally launched its India operations in partnership with Pine Labs and RuPay with co-branded cards that allow users to earn extra coins for spending and convert those coins into cash. It has already got 1 million downloads in India and Indonesia.
“Preventative care for masses in emerging countries clearly was a space with limited large players due to high CAC and perceived lack of monetisation route – a segment for which if well executed can lead to significant impact. We seem to be well positioned to deliver this with our unique insights, mission first and frugal approach”, said, Abdul Paravengal, Co-founder & CEO, hav.
The company aims to reduce the incidence of lifestyle-related diseases that affect more than 75% of people in emerging countries.
“We believe that it’s not enough to invent a new, shiny solution that keeps people healthy if only a sliver of the world gets to benefit from it. Innovative health ideas are just the beginning. Getting them to the world, regardless of geography and economics, is just as crucial. For that reason, and many others, we’re proud to back Abdul Paravengal and his team at hav”, said, Unity Stoakes, Co-founder President, StartUp Health.
The startup is targeting 14% CAGR in the digital fitness and well-being apps segment over the next 5 years.
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Platform rewarding healthier life! for masses, available on Google Play.