Entertainment · June 22, 2022

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

Healthtech startup Spry has raised $7 million in funding from Eight Roads Ventures with participation from F-Prime Capital and existing investor Together Fund, the company announced today. The company has raised over $10 million to date.

Founded in 2021 by Ola’s former Chief Technology Officer, Brijraj Bhuptani, and Riyaz Rehman, Spry aims to democratize the accessibility and affordability of exercise health through its comprehensive digital health platform, providing an end-to-end SaaS platform for the Patient and practice management provides for physical therapists.

“Our mission is to create a patient-centric, technology-driven solution that anticipates the patient’s needs before they enter the physiotherapist’s clinic and guides them throughout the treatment,” said Brijraj Bhuptani, co-founder and CEO of Spry.

The company will use the funds to establish a physical rehabilitation practice management facility.

The SaaS platform allows physicians and physical therapy center owners to manage their clinical and administrative functions through a single tool. It supports the end-to-end operations of a clinic – from patient admission to scheduling, communication, assessment, electronic medical records (EMR), revenue cycle management and at-home exercise plans, among others.

In the United States – Spry’s key target market – there is increasing demand for physical therapy as more consumers strive for healthy and active lifestyles, an increasingly aging population and favorable payer policies.

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“Physical rehabilitation services in the US represent a $56 billion opportunity, with outpatient care being a key demand driver,” the company said in the release.

“Spry’s comprehensive and cross-channel platform is a very compelling value proposition for the growing number of physical therapy practices striving to provide their patients with ongoing care in the clinic and at home,” said Dr. Prem Pavoor, Senior Partner and Head of India and Healthcare Investments at Eight Roads Ventures.

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

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