Stakeboat Capital invests Rs 50 crore in healthcare startup Sukino
Sukino plans to use the fresh funding for its expansion plans to new geographies and other areas of rehabilitation using technology. It currently has five centres and aims to expand it to 20 centres with a capacity of 1500 beds over the next three years.
Bangalore-headquartered healthcare startup Sukino Healthcare Solutions has secured Rs 50 crore in a Series A round of funding from Stakeboat Capital, an independent growth equity firm, according to a statement.
Sukino has earlier raised angel funding from marquee investors with the family offices of Kris Gopalakrishnan and Mohandas Pai as lead investors.
The company plans to use the fresh funding for its expansion plans to new geographies and other areas of rehabilitation using technology. It currently has five centres and aims to expand it to 20 centres with a capacity of 1500 beds over the next three years.
"The Indian rehabilitation industry is expected to witness significant growth in the coming years, with the market estimated to double from $17 billion to $35 billion in the next five years, driven by the emergence of new technologies and increasing insurance coverage. Our investment in Sukino will help the company capture a share of this rapidly growing market," said Chandrasekar Kandasamy, managing partner of Stakeboat Capital.
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Sukino offers complete out-of-hospital recuperative, rehabilitative and palliative care to all patients at any transitory stage of their illness for a speedy recovery. The company has serviced more than 10,000 patients till date. It is present across five locations in Bangalore and Kochi.
Veda Corporate Advisors acted as the exclusive financial advisor to Sukino Healthcare on this deal.
Started in 2017, Stakeboat Capital focuses on investing in small and medium enterprises (SMEs) in India. The company has assets under management (AUM) of more than Rs 1500 crore. Headquartered in Bangalore, Stakeboat Capital invests in three sectors including healthcare and life sciences, B2B technologies and services and value-added industrials/manufacturing. It has exited from its portfolio firms including MarketXpander Services (Leadsquared), Leixir Resources and Sankalp Semiconductors.
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