Indian healthcare edtech startup raises $7 million in a pre-Series B1 round
2022-12-15 21:21:06

Virohan, an India-based edtech startup offers healthcare vocational training to students to build a career in the healthcare industry, announced recently that it has raised nearly $7 million in a pre-Series B1 round led by Blume Ventures. 

It is reported that the board at Virohan has passed a special resolution to issue 8,303 pre-Series B1 compulsory convertible preference shares (CCPS) at an issue price of Rs 67,681 per share to raise Rs 56.2 crore or $6.83 million, as per the regulatory filing with the Registrar of Companies (RoC).

As per Fintrackr’s estimates, the company has been valued at around Rs 230 crore or $28 million (post-money). Previously, the company raised $3 million in a Series A  round in May 2021 followed by a $1.3 million bridge round in November.

Founded in 2018 by Archit Jayasal, Kunaal Dudeja, Nalin Saluja, and Parul Dudeja, Virohan operates hybrid classrooms at campuses and online training across India in cities including Delhi, Faridabad, Pune, Raipur, Meerut, and Nagpur.

Virohan registered a 53.7% growth in scale during FY22 to Rs 6.5 crore from Rs 4.23 crore in FY21. As per the annual financial statement with the RoC, losses of the company surged over 84% to Rs 12.95 crore in FY22 as compared to Rs 7.03 crore booked in the preceding fiscal year (FY21).

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