Alyve Health, the fastest growing health-plan-tech start-up has secured $5.5 million in Series A funding round directed by Axilor Ventures. The round also saw participation from its existing investor 1Crowd Fund and a heathtech-focused fund Inhealth Ventures.

In addition to this, the startup has bagged venture debt fund from Trifecta Capital. The company stated that it will utilize the raised capital to enhance the platform, hiring, operational expansion, services amplification and rise the engagement among members.

Shashank Avadhani, Co-Founder and CEO highlighted the significance of investing in workforce especially engineers, deep technology and engineers to streamline the platform that aligns with their ambitions and aspirations.

Established in May 2020 by Shashank Avadhani, Sushant Roy & Vineet Mehta, Alyve Health provides all-inclusive health plans that cover diverse healthcare happenings including diagnostics, medicine purchases, and consultations, memberships in gyms, dental checkups and hands-on wellbeing.

The inventive healthcare platform seamlessly integrates with the payers - TPAs, insurers, mediators – funding institutions, digital platforms and brokers, providers – diagnostic centers and fitness centers.

This incorporation permits Alyve to offer tailored solutions to the workforces, consumers and channel partners. The startup claims that presently it serves more than 1 million users.

Anil Gudibande, Co-Founder, 1Crowd Fund states, “Alyve Health is a unique technology venture in the insurance industry weaving an ecosystem of service providers and providing an assured experience to all stakeholders. With growing coverage, we believe that Alyve Health can help redefine health plans”.

The healthcare industry of India which was estimated at $370 billion in the year 2020 is projected to achieve more than $610 billion by 2026, offering a vital opportunity for Alyve Health to develop & revolutionize the health plans in the market.