Vaatsalya Healthcare Raises $10mn From Aquarius Capital and Seedfund

Vaatsalya is a rural healthcare startup that is building and managing hospitals/clinics in semi-urban/rural areas. The company provides primary and secondary healthcare and basic specialties at each hospital (including paediatrics, gynaecology, medicine, surgery and physiotherapy).

Vaatsalya has raised $10mn in a round led by Singapore-based Aquarius India Fund and Seedfund. The company will use the funds to create a pan-India network of hospitals. SN Subramanya and Vamsi Ramana Ravuri, from the investment advisory firm Aquarius Investment Advisors India, will join and represent Aquarius India Fund on the company’s Board of Directors.

Started by two doctors, Vaatsalya earlier raised Rs. 4 crores from Seedfund in April 2008 and next round was led by Oasis Fund (from Geneva) and Seedfund in 2009.

At the first UnPluggd event, Vaatsalya founder, Dr. Ashwin Naik shared the Vaatsalya story and how the team built this social enterprise just like any other technology startup. Do watch this inspirational video (more context here)



Recommended Read: Seedfund Closes $54 Million Second Fund, To Launch An Incubator [Interview]

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App Development Company SourceBits Raises $10 million From Sequoia Capital and IDG Ventures

App development company Sourcebits has raised $10 million funding from Sequoia Capital and IDG Ventures, in order to expand to US market.

For the year ending March 2011, Sourcebits posted revenues of $6.5 million and one of its app, Night Lamp has been the #2 app in Apple app store and the app itself has gotten revenues of $1 million for the company.

Post this series A funding, SourceBits will expand the engineering and sales team to US market.

Given that app platforms like Android have democratized the global mobile space, expect a lot of Indian companies to go aggressive in global markets.

Recommended Read: The Rise of Mobile Only Internet Generation in India [41% Prefer Mobile To Access Internet]

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