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HYDERABAD: Audiology player Hearing Solutions Private Ltd (Hearzap) has raised 50 crore from 360 ONE Asset Management Ltd’s newly launched healthcare and life sciences focused private equity fund for a minority stake.
The funds raised will be used for expanding its existing operations nationwide over the next three years, the Hyderabad-headquartered Hearzap said.
Hearzap managing director & founder Selvaraj Rajapandian said the collaboration with 360 ONE amplifies its commitment to pushing the boundaries of what’s possible in hearing health.
“The alarming rise in hearing health issues has driven Hearzap to pioneer tech-based solutions that cater to the diverse needs of those affected. Along our way, we faced notable challenges, including — awareness, accessibility, and affordability in this realm, and were seeking the right partners to walk our way in overcoming these challenges,” he said.
“With the financial and strategic backing of the 360 One team and its significant expertise in the healthcare sector, Hearzap is poised to introduce ground-breaking technology and services that will redefine the approach to this concern,” he added.
360 ONE Asset senior executive vice president Nidhi Ghuman said this was their first investment from their healthcare and life sciences focused PE fund.
“It underlies our focus on identifying and investing into breakout opportunities in the healthcare space. Hearing Health is an attractive and growing market. Hearzap has been a pioneer in offering hearing health solutions in India and is now leveraging technology to offer these products and services at scale,” she added.
The funds raised will be used for expanding its existing operations nationwide over the next three years, the Hyderabad-headquartered Hearzap said.
Hearzap managing director & founder Selvaraj Rajapandian said the collaboration with 360 ONE amplifies its commitment to pushing the boundaries of what’s possible in hearing health.
“The alarming rise in hearing health issues has driven Hearzap to pioneer tech-based solutions that cater to the diverse needs of those affected. Along our way, we faced notable challenges, including — awareness, accessibility, and affordability in this realm, and were seeking the right partners to walk our way in overcoming these challenges,” he said.
“With the financial and strategic backing of the 360 One team and its significant expertise in the healthcare sector, Hearzap is poised to introduce ground-breaking technology and services that will redefine the approach to this concern,” he added.
360 ONE Asset senior executive vice president Nidhi Ghuman said this was their first investment from their healthcare and life sciences focused PE fund.
“It underlies our focus on identifying and investing into breakout opportunities in the healthcare space. Hearing Health is an attractive and growing market. Hearzap has been a pioneer in offering hearing health solutions in India and is now leveraging technology to offer these products and services at scale,” she added.
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