Alyve Health, a Mumbai-based health tech startup, has announced a Series A funding round of $5.5 million. The investment round was led by Axilor Ventures and saw participation from 1Crowd Fund, an existing investor, as well as Inhealth Ventures, a healthcare-focused fund.

The company also raised venture debt fund from Trifecta Capital as part of this round. The health tech company plans to use the new funds for strategic growth initiatives across key areas like platform enhancement, talent acquisition, expansion of operations, amplification of services, and higher member engagement.

Alyve’s health plans cover multiple healthcare journeys like doctor consultations, diagnostics, medicine purchases, dental procedures, gym memberships, and proactive well-being. The personalized plans, cashless experience and assured care across prevention & cure sets the brand apart.

The Alyve Health platform is seamlessly integrated with payers (insurers, TPAs), intermediaries (brokers, financial institutions, digital platforms), and providers (clinics, diagnostic centers, fitness studios). The platform provides tailored solutions to multiple groups - employees, customers, and channel partners - and currently serves over 1 million members.

By leveraging technology and human expertise, Alyve Health aims to disrupt traditional healthcare models, offer a more customer-centric experience, and tailor healthcare plans to each individual's unique needs and goals. The size of the Indian healthcare industry crossed $370 billion in 2020 and is expected to reach over $610 billion by 2026, as per the International Trade Administration report.