Healthtech startup Spry raises $7 million in funding from Eight Roads Ventures

Abstract: Spry, started by former Ola CTO, will use the capital to build practice management for physical rehabilitation.

Healthcare startup Spry on Wednesday said it has secured over $7 million (around Rs 54 crore) in a Series A funding round led by Eight Roads Ventures, with participation from F-Prime Capital and existing investor, Together Fund. The startup has raised over $10 million in less than six months to date.

Brijraj Bhuptani and Riyaz Rehman founder of spry and Ola’s former chief technology officer said that he aims to democratize the accessibility and affordability of movement health through its full-stack digital health platform by providing an end-to-end patient and practice management SaaS platform for physical therapists.

“Our mission is to create a patient-first, tech-driven solution that anticipates the patient’s needs before they step into the physical therapist’s clinic, and guides them during the treatment,” said Brijraj Bhuptani, cofounder and CEO, of Spry.

“Physical rehabilitation services in the U.S. present a $56-billion opportunity, with outpatient being a major driver of demand,” the company said in the release.

The firm founded in 2021 will use the capital to build practice management for physical rehabilitation.

“Spry’s comprehensive and omnichannel platform is a very compelling value proposition to the growing number of physical therapy practices that aspire to provide a continuum of care to their patients, in-clinic and at home,” said Dr. Prem Pavoor, senior partner, head of India and healthcare investments at Eight Roads Ventures.

The companies in Eight Roads Ventures’ India active and exited healthcare portfolio include Ashish Life Science, Caplin Steriles, Carestack, Cipla Health, Core Diagnostics, Denali Therapeutics, Doceree, eKincare, Eywa Pharma, Immuneel Therapeutics, Laurus Labs, Medwell Ventures, NOCD, Plasmagen Biosciences, Proximie, OZiva, PharmEasy, Richcore Lifesciences, Spec

“Spry has built a game-changing physical rehabilitation platform that allows providers to streamline operations and increase revenue while delivering a collaborative and seamless experience for their patients,” said Carl Byers, Partner, F-Prime Capital