Home Insight FUNDING NEWS- Newly Funded Startups 2024 Healthtech startup Spry raises $7 mn in Series A round

[Funding alert] Healthtech startup Spry raises $7 mn in Series A round

Healthtech startup Spry
[Funding alert] Healthtech startup Spry raises $7 mn in Series A round

Healthcare software-as-a-service (SaaS) startup Spry has raised over $7 million in its Series A funding round from Eight Roads Ventures, along with participation from F-Prime Capital and existing investor, Together Fund.  

The fresh funds will be used to promote Spry’s objective to build the future of exercise management for physical rehabilitation.

Pune and Delaware-based Spry was founded in 2021 by former Chief Technology Officer at Ola, Brijraj Bhuptani, and Riyaz Rehman, former Chief Business Officer at Ridlr, It provides its own Software-as-a-Service (SaaS) platform to enable physicians and owners of physical therapy centers to manage their clinical and administrative tasks.

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Its platform supports operations including patient intake, scheduling, communication, assessment, electronic medical records (EMR), revenue cycle management, home exercise planning, adherence tracking and patient lifecycle management.

“With our 25-member strong team, we have been able to build a new-age, reliable and trustworthy platform to enable physical therapists to manage an omnichannel practice and improve the quality of patient care,” said, Brijraj Bhuptani, Co-founder and CEO of Spry.

The startup also offers a self-assessment portal as part of its platform, targeting the US as its primary market. Its portal leverages computer vision technology to provide scorecards to patients after a comprehensive assessment of their mobility and flexibility. This portal allows physical therapists to manage time as they can access the scorecard at the initial appointment.

With this funding, Spry had raised over $10 million in less than six months.

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In December 2021, Spry had raised $3 million in a seed funding round from Together Fund.

“Spry’s comprehensive and omnichannel platform is a very compelling value proposition to the growing number of physical therapy practices who aspire to provide a continuum of care to their patients, in-clinic and at home,” said, Dr Prem Pavoor, Senior Partner, Head of India and healthcare investments at Eight Roads Ventures.

Global venture capital firm Eight Roads Ventures is backed by Fidelity, and it manages $11 billion in assets across offices in China, India, Japan, the UK and the US.

About Spry

There vision to help people lead a healthier and pain-free life by making movement health accessible.

With AI technology that’s a class apart, SPRY aims to revolutionise the entire physical therapy ecosystem, while keeping the well-being and health of patients at its core. It bridges the gap between PTs and patients with automated processes and personalized solutions. SPRY is constantly on the move to make movement health accessible.

There mission to Humanising technology to provide personalised MSK services to every American.

Every human being has the right to access healthcare facilities for personal well-being. SPRY aims to take this a notch higher with innovation that humanizes technology.

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Their Story-

Mobility has always been the main focus area for Brijraj Bhuptani – Founder of SPRY. After creating Ridlr and changing the face of ticketing in India; the pandemic-led challenges resulted in the birth of SPRY when he joined forces with his former colleague Riyaz Rehman (former Chief Business Officer at Ridlr).

SPRY was built with the aim of democratising accessibility and affordability of movement health through a digital platform. SPRY works as a SaaS (Software-as-a-Service) platform to assist physical therapists and clinic owners in administrative and clinical functions with customized modules. In less than a year of its launch, SPRY had acquired over 100 clients in India and 7 in the US, and this number continues to grow.


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