Hyderabad-based audiology chain, Hearing Solution, known as Hearzap, has secured a substantial investment of Rs 50 crore (approximately $6 million) in a Series A funding round.
This funding comes from 360 One Healthcare Opportunities Fund, a private equity fund that specializes in healthcare and life sciences under 360 ONE Asset.
Hearzap plans to utilize these funds to expand its operations across India over the next three years. The company, founded by Selvaraj Rajapandian, is dedicated to improving hearing health and offers a range of digital applications for remote diagnostics and virtual shopping experiences.
With over 90 audiology clinics functioning as hearing experience stores in seven states, Hearzap has a team of more than 100 audiologists ready to provide hearing care.
360 ONE PE, a fund managing around $2.5 billion, focuses its investments on healthcare, technology, financial services, and other relevant industries. Some of its notable healthcare investments include Kauvery Hospitals, Nephroplus, and Infigo Eye.
Selvaraj Rajapandian, the founder and managing director of Hearzap, expressed the company’s commitment to addressing the rising concerns regarding hearing health.
He emphasized Hearzap’s dedication to pioneering technology-based solutions that cater to the diverse needs of individuals affected by hearing issues.
With the financial support and strategic backing of 360 One, along with their extensive experience in the healthcare sector, Hearzap is well-positioned to introduce technology and services that will make a significant impact on how hearing health concerns are approached.
This substantial investment in Hearzap reflects the growing importance of hearing health and the recognition of the company’s innovative approach to addressing this issue.
As the company expands its operations with the support of 360 One, it is expected to play a significant role in improving hearing care and services across India in the coming years.