Rewards-driven Health-tech hav. Raises $400,000 In a Round Led By StartUp Health The funds raised will be used for growing the user base and achieving PMF.
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Rewards-based health tech platform hav., which has been operating in stealth mode, has announced the launch of its operations formally. The company has raised $400,000 in a round led by US-based VC StartUp Health. The funds raised will be used for growing the user base and achieving PMF.
The round also saw participation from marquee angels including Sudheer Nair (chairman, Navio Group), Vijay Seshadri (ex-board member, Chargebee), Sudi Navile (ex-divisional CIO, Oracle), Shihab Muhammed (founder, SurveySparrow and ex-co-founder, Freshworks), Rahul Nambiar (board member, Dentsu Indonesia), Stan Kuruvilla (ex-PayPal) Madhu Bhaskaran (Samagra), Faiz Mohamed Haneef (CEO, NeoITO), Navin Jain (country head Indonesia, Mastercard), Akshit Goyal (JKGA Law), Senu Sam (founder, Mykare) and K Gopalakrishnan (IAS), said a statement.
"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 and CEO, hav.
"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.
Founded in 2021, hav. is a free app that tracks various health parameters to help 20 to 40-year-olds middle income and below individuals to reduce the probability of lifestyle-related diseases. The app requires no wearable integration and gives rewards coins for the activities, which can be redeemed for discounted products, services and vouchers of leading and emerging brands. The company has launched its India operations formally with co-branded cards in partnership with Pine Labs and RuPay that allows users to earn additional coins for spending and get those coins converted to cash. hav. claims to have already clocked 1 million downloads in India and Indonesia.