Connect with us

News

Travis Kalanick Joins Medical Tech Startup Kareo’s Board Of Directors

Published

on

Travis Kalanick,Travis Kalanick Joins Medical Tech Startup Kareo Board Of Directors,Startup Stories,Inspirational Stories 2018,2018 Best Motivational Stories,Travis Kalanick joins medical tech startup board of directors,Former Uber CEO Travis Kalanick Joins Health Startup Board,Former Uber CEO Latest News,Travis Kalanick joins medical tech startup board of directors

Travis Kalanick, the founder and former CEO of taxi hailing startup Uber, reportedly joined the board of directors for Kareo, a medical health tech startup. Kalanick, who was an angel investor in Kareo, will be joining the board along with author and entrepreneur Rob Reid.

Kareo provides technology enabled solutions to independent medical practitioners and helps with patient communications, payments and marketing. Based in Irvine, California, the company was founded by Dan Rodrigues in 2004 and has raised close to $125 million in venture funding. The company claims to have surpassed $70 million in annual revenue. In 2015, Kareo raised $55 million from health tech fund Montreux Equity Partners along with Silver Lake Waterman and existing investors such as OpenView Venture.

Speaking about the addition to the board, Kareo spokesperson said, “The company has experienced increasing provider growth in the last year and the changes in the healthcare sector now underway further accelerate demand for Kareo’s clinical and business management platform.” The spokesperson further added Travis and Rob each have valuable experience scaling technology businesses and the company is excited to have them contribute to the continued growth and success. With the addition of Kalanick and Reid, the total number of members on the board has risen to eight. Currently, the board members of Kareo include Dan as well as Michael Matley, Managing Director at Montreux Equity Partners.

Kalanick along with Rodrigues previously co founded Scour, a music search startup, in 1997. Axios reported, in a memo Rodrigues wrote to the employees, he said Kalanick has been an “enthusiastic believer in our vision since our inception and he is excited to work with us more directly to bring innovation to healthcare and help us reach out goals for market leadership.

Travis Kalanick was asked to step down as the CEO of Uber in June last year amid multiple controversies. Since his resignations as the CEO, this is Kalanick’s first appointment. However, Travis is still a part of the Uber board.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Startup News

Bengaluru’s Cult.fit Set to Make Waves in the Market with Upcoming ₹2,500 Crore IPO

Published

on

Bengaluru’s Cult.Fit Set To Make Waves In The Market With Upcoming ₹2,500 Crore IPO,Startup Stories,Startup News,Startup Stories 2025,Startup Stories India,Tech News,Bengaluru,Bengaluru News,Zomato-backed Cult.Fit Gears Up For ₹2500 Crore Ipo,Cult.Fit Plans To Raise Upto ₹2,500 Cr,Cult.Fit,Cult.Fit News,Cult.Fit Latest,Cult.Fit Picks Bankers For Rs 2500 Cr Ipo,Ipo,Zomato,Cultsport,Eat.Fit,Mind.Fit,Care.Fit,Cult Fit,Cult.Fit Ipo,Ipo Listing,Business News Today,Business News,Share Market Today,Share Market,Startup Success,Indian Fitness Market,Fitness Services,Initial Public Offering,Entrepreneurship,Innovation,Health And Wellness,Fitness Industry,Indian Startups,Tech Startups,Online Fitness Platforms,Digital Fitness,Zomato Backed Cult.Fit Picks Investment Bankers

Cult.fit, the Bengaluru-based fitness and wellness platform backed by Zomato, has finalized five top investment banks—Axis Capital, Jefferies, Goldman Sachs, Morgan Stanley, and JM Financial—to manage its highly anticipated Initial Public Offering (IPO). The company aims to raise ₹2,500 crore through this offering, which is expected to value Cult.fit at nearly $2 billion.

Company Growth and Business Model

Founded in 2016 by Mukesh Bansal and Ankit Nagori, Cult.fit has grown into a diversified health and wellness ecosystem. The company operates over 500 gyms across India and has expanded into multiple segments:

  • Cultsport: Direct-to-consumer fitness apparel and equipment (30% revenue contribution).
  • Eat.fit: Healthy meal delivery service (24.5% of revenue).
  • Mind.fit: Yoga and mental wellness services.
  • Care.fit: Healthcare clinics and diagnostics.

In FY24, Cult.fit reported an operating revenue of ₹927 crore, a 33.6% jump from ₹694 crore in FY23. Despite this growth, the company recorded a loss of ₹535 crore.

IPO Details

The IPO marks a significant milestone for Cult.fit, which was last valued at $1.56 billion during Zomato’s $100 million investment in 2021. With strong backing from investors like Accel Partners, Tata Digital, Temasek, Kalaari Capital, and Chiratae Ventures, the upcoming IPO is set to further strengthen its position in the Indian fitness industry.

Strategic Importance

Cult.fit’s move to go public reflects its ambition to scale operations and attract institutional investors globally. Its diversified business model positions the company as a leader in India’s growing fitness market. Analysts are closely watching this IPO as one of the most anticipated offerings of 2025.

Continue Reading

Startup News

Indian Healthtech Startup Dozee Raises $8 Million to Revolutionize Healthcare with Innovative Technology

Published

on

Indian Healthtech Startup Dozee Raises $8 Million to Revolutionize Healthcare with Innovative Technology

Dozee, an Indian healthtech startup focused on remote patient monitoring, has raised $8 million in its latest funding round to boost its global expansion. This significant investment will help the company enhance its presence in both domestic and international markets.

 

Funding Overview

The funding attracted a mix of existing and new investors, including Prime Venture Partners, 3one4 Capital, and the State Bank of India. The capital will primarily be used to expand Dozee’s reach to hospitals worldwide and strengthen its research and development efforts. CEO Mudit Dandwate highlighted the funding’s role in improving critical care facilities globally while promoting Indian-made products.

Innovative Solutions

 

Dozee is recognized for its Contactless Vital Signs Measurement System, which allows healthcare providers to monitor patients’ vital signs without direct contact. This technology has been implemented in over 380 hospitals across India, significantly reducing the workload on nursing staff and saving valuable time.

The company’s AI-powered Early Warning System (EWS) can predict patient deterioration up to 16 hours in advance, enabling timely medical interventions that could save lives.

 

Global Expansion Plans

Dozee aims to tap into over 2,000 hospitals across more than 100 districts in India within the next two years as part of its expansion strategy. The company is also looking to enter new international markets while adapting its technology to meet various regulatory standards.

With this funding, Dozee is set to make substantial progress in the healthtech sector, aligning with global trends towards more efficient healthcare solutions and positioning itself as a leader in remote patient monitoring.

 

Continue Reading

Latest News

Zepto Prepares for IPO with $250 Million Secondary Share Sale to Boost Domestic Investor Ownership

Published

on

Zepto Prepares for IPO with $250 Million Secondary Share Sale to Boost Domestic Investor Ownership

Zepto, the Bengaluru-based quick commerce startup, is preparing for its initial public offering (IPO) by facilitating a secondary share sale worth up to $250 million. This strategic move aims to increase Indian investor ownership from approximately 33% to nearly 50% before the anticipated public listing later this year or early next year.

Funding and Investor Details

The secondary sale will involve private equity firms, including Motilal Oswal Financial Services and Edelweiss Financial Services, allowing existing investors and employees to liquidate their shares. Although Zepto will not raise additional capital through this transaction, it is expected to execute the sale at a valuation of just over $5 billion, consistent with its last funding round in November 2024.

Objectives Behind the Sale

The primary goal of this secondary share sale is to enhance domestic ownership in Zepto, aligning with regulatory preferences and making the IPO more attractive to local institutional investors. Co-founders Aadit Palicha and Kaivalya Vohra currently hold about 20% of the company, and increasing Indian shareholder stakes is seen as a way to strengthen governance and influence over the company’s future direction.

Market Context

Zepto operates in India’s competitive grocery delivery market, facing challenges from established players like Amazon India, Swiggy, Zomato, and BigBasket. Founded in 2021 by Palicha and Vohra after they dropped out of Stanford University, Zepto has quickly gained traction in the quick commerce sector.

Conclusion

As Zepto approaches its IPO, this secondary share sale represents a crucial step in solidifying its position in the Indian market. By boosting domestic investor participation, Zepto aims to enhance its credibility and appeal as it prepares for a public listing amidst a wave of Indian startups entering the stock market.

Continue Reading
Advertisement

Recent Posts

Advertisement