Blume Ventures Leads $1.8 million Pre-Series B Funding Round in Virohan

 

Virohan, a healthcare tech startup headquartered in Gurugram, has raised Rs 14.9 crore (equivalent to approximately $1.8 million) in an extended pre-Series B funding round, with Blume Ventures taking the lead. This funding marks a significant milestone for the company after a hiatus of 14 months.

 

The financing round also witnessed participation from Mitsui Sumitomo Insurance Venture Capital, managed by MS&AD Ventures, as well as Suneight OK Partnership (Suneight), Bharat Inclusive Technologies, GoldenBird MultiProduct LLP, VVAG Partners, and notable individuals including Pankaj Sharma, Sridhar Subramanian, Upasana Tilak Wadhwa, Viraj Nanda, Bhargav Suhas Jangle, and Vinita Bimbhet.

 

According to regulatory filings with the Registrar of Companies, the board at Virohan approved a special resolution to issue 1,226 pre-Series B2 compulsory convertible preference shares (CCPS) at an issue price of Rs 1,21,496 per share, resulting in the raising of Rs 14.9 crore (or $1.8 million).

 

Blume Ventures contributed Rs 6.15 crore, while Mitsui Sumitomo Insurance Venture Capital and Suneight invested Rs 4.08 crore and Rs 2.48 crore, respectively. The remaining funds were provided by the other investors mentioned above.

 

Virohan‘s valuation stands at approximately Rs 425 crore (or $51 million) post-money, reflecting a significant 1.8X increase compared to its previous funding round.

 

Before this round, the company had secured $7 million in funding led by Blume Ventures.

 

Since its inception in 2018 by Archit Jayasal, Kunaal Dudeja, Nalin Saluja, and Parul Dudeja, Virohan has provided healthcare vocational training to students aspiring to pursue careers in the healthcare industry. The company operates hybrid classrooms across over 20 campuses and offers online training services across India, including cities such as Delhi, Gurgaon, Faridabad, Roorkee, Raipur, Mumbai, Nagpur, and others.

 

Following the recent funding, co-founders Kunaal Dudeja and Nalin Saluja hold a 14.3% stake in the company. In contrast, another co-founder, Archit Jayasal’s OXYS Impact LLP, holds a 14.3% stake. Additionally, Blume Ventures has increased its shareholding in the company to 13.17%.

 

For more comprehensive details, please visit the official company website.

 

Virohan’s operational scale witnessed a notable 63.8% surge during FY23, reaching Rs 10.65 crore from Rs 6.5 crore in FY22. The company’s losses also increased by 43.4% to Rs 18.58 crore in FY23, compared to Rs 12.96 crore in FY22.