Delhi NCR-based healthtech startup Zivov is in advanced talks to raise around $5 Mn in its pre-Series A funding round, sources told Inc42.
“The funding round will be led by a Delhi NCR-based electronics manufacturing company, which is making a strategic investment in the startup,” one of the sources said.
Existing investors, including Titan Capital, are also participating in the funding round. The startup aims to use a part of the fresh funds to manufacture its products in-house.
Zivov intends to utilise the funds for expanding R&D capabilities across hardware and software, entering the international diabetes-tech market and expanding reach across distribution channels, Inc42 has learnt.
Aryan Chauhan, cofounder of Zivov Health, confirmed that the startup is in talks to raise funding but didn’t disclose the name of the investors as the negotiations are ongoing.
Founded in 2021 by Chauhan and his mother Monika Chauhan, Zivov is a healthtech startup that offers an advanced metabolic health monitoring app and devices, powered with artificial intelligence (AI).
The startup allows users to keep a track on their glucose with CGM (continuous glucose monitoring) sensors. Besides this, it helps users track blood pressure and tackle several health conditions such as diabetes, chronic kidney disease, among others. It also offers consultations with doctors.
Earlier, Zivov raised $300K in a seed round from Titan Capital, Reddy Futures, Haresh Chawla, and a clutch of angel investors. Zivov competes against deep-pocketed startups such as Nexus Venture Partners-backed Ultrahuman and LeapFrog-backed HealthifyMe.
UltraHuman has raised around $25 Mn in multiple funding rounds to date and counts Alpha Wave Incubation (AWI), Steadview Capital, Nexus Venture Partners, Blume Ventures, and iSeed fund among its backers. On the other hand, HealthifyMe, which was founded over a decade ago, has raised close to $130 Mn in multiple funding rounds.
While Zivov is a new player in the space, it aims to grab a big share in the market on the back of its affordable CGM sensors.
Currently, Zivov claims to have over 55K users, with more than 10K patients regularly using its CGM sensors. The startup, which has onboarded former Indian cricketer Jhulan Goswamani as its brand ambassador, claims to be on track to reach an ARR of $1 Mn by the end of this year.
The post Exclusive: Healthtech Startup Zivov In Advanced Discussions To Raise $5 Mn Funding appeared first on Inc42 Media.
