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<ul><li><keyword id="12106550" type="General" weightage="20" keywordseo="ayu-health" source="Orion">Ayu Health</keyword> to help digitise <keyword id="6371888" type="General" weightage="20" keywordseo="private-hospitals" source="Orion">private hospitals</keyword> and manages their operations.</li><li>It also offers technology for patient management, procurement and insurance processing.</li><li>The company has bagged $6.5 million to expand its network of 20 <keyword id="6365858" type="General" weightage="20" keywordseo="hospitals" source="Orion">hospitals</keyword> to newer cities.</li><li>The Series A round was led by Singapore-based Vertex Ventures and Stellaris Venture Partners.</li></ul>After selling their used furniture ecommerce platform to online classifieds firm Quikr three years ago, the founders of <keyword id="3036307" type="General" weightage="20" keywordseo="Zefo" source="Orion">Zefo</keyword> have now brought in a unique healthtech offering to help digitise private hospitals and manage their operations. Ayu Health, founded by Himesh Joshi, Arijit Gupta, and Karan Gupta in 2019, currently works with 20 hospital chains spread across Bengaluru and Chandigarh. The company started its journey with five-six hospitals in Chandigarh to aggressively test out its offering and expanded to another fifteen hospitals around the second wave of COVID-19 in April-May 2021. The company now wants to expand its services to six cities by the end of 2022. These cities include Delhi NCR, Chennai, Hyderabad and more, Ayu Health’s cofounder Joshi told Business Insider in an interview. Ayu Health has bagged $6.5 million to turn this dream into reality. The Series A round, announced on September 16, was led by Singapore-based Vertex Ventures and Stellaris Venture Partners. Serial entrepreneur Ashish Gupta, Mamaearth’s cofounder Varun Alagh, EyeQ founder Rajat Goel also participated in the round. The latest fundraise will help Ayu Health expand its hospital network to incorporate 5,000 beds compared to the existing 1,200, Joshi told Business Insider. A part of the funding will also be used to upscale the company’s existing product suite such as insurance processing, procurement of products and clinical quality management at network hospitals. Joshi claimed that Ayu Health’s partner hospitals use its technology platform to improve clinical quality, procure medicines and consumables, and process insurance claims. This results in better clinical outcomes, a smooth in-hospital experience and transparent pricing for patients, he added. The company has also digitised the entire consultation, medicine prescription and payments procedure to offer better experience to customers and avoid hospital visits. It helps its partner hospitals create a more asset-light network, where Ayu Health manages end-to-end administrative operations and the faculty looks into the clinical treatments. Ritesh Agarwal-led budget hotel chain OYO also follows a similar model when it comes to the hotel and hospitality segment. The company partners with hotel chains across 80 countries offers tech solutions to digitise their business and claims to further enhance their business preposition. "The OYO analogy is fine, primarily this being a similarly asset-light model. We are also doing a lot more than just demand generation for our partners - technology for patient management and experience, procurement and insurance processing," Joshi added. Joshi believes that India's healthcare space is still fragmented and the patients aren't always unsure about where to go and the quality of clinical services. “We felt very strongly whether there was a need to create a branded hospital that could solve for three pain points, transparency and pricing consistently good clinical outcomes and high quality experience,” Joshi said. According to the Human Development <a href="http://hdr.undp.org/en/2020-report">Report </a>2020, India has only five hospital beds for 10,000 people. The lack of healthcare facilities and the onset of COVID-19 was one of the factors why India decided to introduce Telemedicine guidelines and National Digital Health Mission in 2020. More digitised solutions in healthcare can help companies like India tackle the lack of healthcare services and also strengthen the existing healthcare system. According to the Weforum report, the four digital themes in healthcare would include smart care, care anywhere, empowered care and intelligent healthcare enterprise. SEE ALSO <a href="https://www.businessinsider.in/business/telecom/news/airtel-vodafone-idea-and-jio-welcome-telecom-relief-package-but-analysts-are-divided-on-whether-it-is-enough/articleshow/86252002.cms" data-type="tilCustomLink">Airtel, Vodafone Idea and Jio welcome telecom relief package, but analysts are divided on whether it is enough</a> <a href="https://www.businessinsider.in/stock-market/news/telecom-auto-tata-group-and-other-top-stocks-to-watch-out-for-on-september-16/articleshow/86250470.cms">Airtel, Vodafone Idea, Tata group and other top stocks to watch out for on September 16</a> <a href="https://www.businessinsider.in/business/telecom/news/telecom-relief-package-airtel-vodafone-idea-get-four-year-moratorium-on-agr-dues/articleshow/86227218.cms">Indian government dials M for moratorium – Airtel, Vodafone Idea get a four-year relief on AGR dues</a>

After selling their previous startup to Quikr, Zefo founders are building an OYO for hospitals

<ul><li>Payment solutions provider <keyword id="1552189" type="General" weightage="20" keywordseo="pine-labs" source="Orion">Pine Labs</keyword>’ latest round was led by Invesco through its Invesco Developing Markets Fund.</li><li>The company was valued at $3 billion in June 2021, however it has not released the current valuation.</li><li>The company is planning to get listed in the US market by next year and could be valued at $6 billion.</li></ul>Payment solutions provider Pine Labs, which is headed for an initial public offering (IPO) in the US by next year, has raised $100 million (₹734 crore). The investment was carried out by US-based investment firm Invesco through its Invesco Developing Markets Fund. The latest funding comes only two months after Pine Labs raised a $600 million round co-led by Fidelity Management &amp; Research Co and BlackRock Inc. The company was valued at $3 billion in that round. The company has not disclosed its current valuation post the latest round of funding. Pine Labs, founded in 1998 by Lokvir Kapoor, is a merchants payment solution that enables businesses to accept online and offline digital retail transactions. According to a previous press note shared by the company, it powers over 140,000 merchants, 3.5 lakh points of sale (PoS) terminals across 3,700 cities and towns in India and Malaysia. The latest funding comes at a time when Pine Labs’ Singapore-based holding entity has converted itself into a public company and renamed as Pine Labs Limited. It has also reportedly appointed Morgan Stanley and Goldman Sachs as advisors for the said IPO. As per media <a href="https://economictimes.indiatimes.com/tech/startups/pine-labs-gets-wall-street-bankers-for-its-ipo-eyes-over-6-billion-valuation/articleshow/86246578.cms">reports</a>, the fintech platform could be valued at round $6 billion after the public issue. “Over the last 18 months we have scaled our Prepaid Issuing stack, Online Payments, and also the Buy Now Pay Later (BNPL) offering. We continue to make progress in the larger Asian markets with our BNPL platform. Very excited to have a marquee investor like Invesco join us in the journey,” B Amrish Rau, chief executive of Pine Labs, said. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/after-selling-their-previous-startup-to-quikr-zefo-founders-are-building-an-oyo-for-hospitals/articleshow/86256238.cms">After selling their previous startup to Quikr, Zefo founders are building an OYO for hospitals</a> <a href="https://www.businessinsider.in/business/startups/news/tiger-global-backed-jobs-platform-apna-is-among-fastest-unicorns-of-india/articleshow/86251461.cms">Two-year-old Apna is among the fastest unicorns of India, despite making no revenue</a> <a href="https://www.businessinsider.in/stock-market/news/telecom-auto-tata-group-and-other-top-stocks-to-watch-out-for-on-september-16/articleshow/86250470.cms">Airtel, Vodafone Idea, Tata group and other top stocks to watch out for on September 16</a>

IPO-bound Pine Labs raises another $100 million

India's key stock indices rose during mid-afternoon trade session on Thursday to reach new intra-day record high levels. Accordingly, both key indices - S&amp;P BSE <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and NSE Nifty50 -- made new record highs. The Sensex crossed the 59,000 mark, while Nifty breached the 17,500 level. As per market observers, the up moves comes a day after government announced support measures for some beleaguered sectors along with provisions for PLI schemes for others. Initially, both key indices had a gap-up opening. However, global cues capped gains as Asian markets were largely weak as the debt crisis at China Evergrande Group and Beijing's latest push to rein in private industries hurt sentiments. Among sectors, <keyword id="6354776" type="General" weightage="20" keywordseo="telecom" source="Orion">Telecom</keyword>, <keyword id="6368751" type="General" weightage="20" keywordseo="banks" source="Orion">Banks</keyword> and FMCG indices rose the most. At 2.00 p.m., S&amp;P BSE Sensex traded at 59,057.82 points, higher by 334.62 points or 0.57 per cent from its previous close. Similarly, NSE Nifty50 traded higher. It rose to 17,599.70 points, higher by 80.25 points or 0.46 per cent from its previous close. "Volumes picked up further in the morning session but has cooled off a bit post noon," said Deepak Jasani, Head of Retail Research, HDFC Securities. "Advance decline ratio has fallen to just above 1:1 suggesting profit taking in broader markets." According to Likhita Chepa, senior Resaerch Analyst, CapitalVia Global Research: "Sentiments got boost as government has approved a big-bang relief package for the stressed telecom sector." "Our research suggests that if the market is able to sustain the level of 58,900, we can witness higher levels of 59,000-59,100 as the momentum indicators like 'RSI' and 'MACD' to stay positive and market breadth to improve, further strengthening a short-term bullish outlook." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/after-selling-their-previous-startup-to-quikr-zefo-founders-are-building-an-oyo-for-hospitals/articleshow/86256238.cms">After selling their previous startup to Quikr, Zefo founders are building an OYO for hospitals</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/itc-surprises-investors-by-rallying-7-5-suddenly-today/articleshow/86255237.cms">ITC finally starts rallying, but twitter can't stop trolling it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sansera-engineering-ipo-last-day-for-subscription-grey-market-indicates-10-premium/articleshow/86255105.cms">Last day to bid for auto components maker Sansera Engineering IPO; grey market indicates ₹10 premium</a>

Sensex tops 59,000 mark, Telecom stocks soar

<ul><li>Byju’s emphasised that the acquisition of <keyword id="6437224" type="General" weightage="20" keywordseo="tynker" source="Orion">Tynker</keyword> would help the company accelerate its market presence in the US. </li><li>Tynker is used by over 60 million users and 100,000 schools in 150 countries, the company claims. </li><li>Prior to this, Byju’s had acquired <keyword id="8080458" type="General" weightage="20" keywordseo="whitehat-jr" source="Orion">WhiteHat Jr</keyword> last year, which was folded into Byju’s Future School offering.</li></ul>Edtech giant Byju’s has made another move towards gaining control of the North American market, with the acquisition of US-based coding-for-kids platform Tynker. Interestingly, Byju’s had acquired Indian <keyword id="8345659" type="General" weightage="20" keywordseo="coding-for-kids" source="Orion">coding for kids</keyword> platform WhiteHat Jr for $350 million. The company had folded the three-year-old company into its Byju’s Future School offering to offer its services in the North American market. WhiteHat Jr had also expanded its services from coding-for-kids to maths, English and vocational classes. The company’s founder Karan Bajaj was leading the Byju’s Future School until last month, before he quit and Trupti Mukker took over. Mukker was Byju’s head of customer experience and delivery prior to this. Another interesting fact about the acquisition of Tynker is that it is the third startup in Byju’s portfolio that offers coding classes for kids. The company had earlier acquired rival Toppr, which offers coding classes in the form of Toppr Codr. Byju’s, in its press note, emphasised that the acquisition of Tynker would help the company accelerate its market presence in the US as the platform is used by over 60 million users and 100,000 schools in 150 countries. Founded in 2012 by Krishna Vedati, Srinivas Mandyam and Kelvin Chong, Tynker has raised over $10 million to date from Reach Capital, 500 Startups, New Ground Ventures, Relay Ventures and Cervin Ventures. “Joining forces with Tynker will unlock the ability for us to bring imagination to life for hundreds of millions of students through coding… Our goal is to ignite a love for programming in children globally and we feel strongly that Tynker's creative coding platform and approach to making programming fun and intuitive for kids will get us there even faster,” Byju Raveendran, founder and chief executive of Byju’s, said. The Bengaluru-based edtech firm had also <a href="https://www.businessinsider.in/business/news/byjus-last-two-acquisitions-and-a-deal-with-disney-reveal-its-american-dream/articleshow/84783749.cms">acquired </a>US-based Epic and Whodat, Singapore-based Great Learning. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/after-selling-their-previous-startup-to-quikr-zefo-founders-are-building-an-oyo-for-hospitals/articleshow/86256238.cms">After selling their previous startup to Quikr, Zefo founders are building an OYO for hospitals</a> <a href="https://www.businessinsider.in/business/startups/news/tiger-global-backed-jobs-platform-apna-is-among-fastest-unicorns-of-india/articleshow/86251461.cms">Two-year-old Apna is among the fastest unicorns of India, despite making no revenue</a> <a href="https://www.businessinsider.in/stock-market/news/telecom-auto-tata-group-and-other-top-stocks-to-watch-out-for-on-september-16/articleshow/86250470.cms">Airtel, Vodafone Idea, Tata group and other top stocks to watch out for on September 16</a>

You Searched For "Zefo" and got 4 results

After selling their previous startup to Quikr, Zefo founders are building an OYO for hospitals

Kritti Bhalla

IPO-bound Pine Labs raises another $100 million

Kritti Bhalla

Sensex tops 59,000 mark, Telecom stocks soar

IANS

Byju’s acquires yet another coding-for-kids startup, this time an American one

Kritti Bhalla

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