MUMBAI
:
Sukino Healthcare is in talks to raise about ₹200–250 crore from venture capital firms including Bessemer Venture Partners and Jungle Ventures, according to three people familiar with the matter.
“The company has appointed Veda Corporate Advisors to help with the fundraise and the transaction is currently undergoing due diligence,” the people said. “The company has grown well in the last 2 years and has been able to prune costs effectively,” one of the people cited above said, adding that the VC firms have issued term sheets.
Sukino, Veda, Bessemer and Jungle did not respond to Mint’s emails sent on Friday afternoon.
This fresh round of funding comes more than two years after the Bengaluru-based healthcare startup raised ₹50 crore in its Series A round from Stakeboat Capital in 2023. At the time, the company earmarked the proceeds for expansion into new geographies and technology-led rehabilitation initiatives.
Founded in 2015 by Shalini Menon and Rajinish Menon, the company provides home wound care, IV therapy, and other respiratory rehabilitation services. With a presence in Bengaluru, Kochi and Coimbatore, Sukino’s other services include continuum care, neuro, cancer and stroke rehabilitation, hydrotherapy rehab, knee and hip replacement among others.
The company’s investors also include high-net-worth individuals such as Kris Gopalakrishnan, Mohandas Pai, Bhaskar Pramanik, Arihant Patni, Madusudhan Kela and Krishnan Iyer, according to its website.
In FY24, Sukino reported revenue of ₹46 crore, up from ₹38.8 crore in FY23, while narrowing its losses to ₹9.5 crore from ₹15.6 crore a year earlier, per Tracxn data.
Market intelligence firm Tracxn lists Athulya Senior Care, Geri Care, and Medwell Ventures as Sukino’s competitors.
Sector outlook
The Indian physical rehab market stood at about $17.1 billion in 2023 and is projected to grow at a CAGR of 15.5% in the next 5 years to reach $35 billion by FY28, according to a Redseer report.
Growth is expected to be driven by greater rehab adoption amid low awareness, limited provider availability, and capability constraints, said the report.
Redseer also highlighted a major gap in geriatric care: over 40% of the elderly population requires rehab services such as caregiving or assisted living, yet only about 6% currently access such services.
