Hyderabad: BlueSemi, a consumer healthtech firm, secured $69 million (Rs 510 crore) capital commitment from Luxembourg-based private alternative investment group GEM Global Yield (GEM) as the company seeks to go public.
The amount will be provided on a shared subscription facility over a 36-month term following a public listing of BlueSemi’s common stock. The firm will have the autonomy to determine the timing and maximum amount of drawdowns under this facility with no minimum obligation.
With the investment, BlueSemi is gearing up to launch its flagship consumer healthtech product, which is a non-invasive device that analyses six vitals like blood glucose, ECG, BP, HR, SPO2, and temperature in 60 seconds.
“The device monitors, analyses and gives insights regarding chronic diseases, food intake, workout, and stress levels. We are thrilled to unveil this device in the coming months. GEM’s portfolio of companies includes 20 plus healthcare firms across the globe and their commitment helps us in placing our product in the global markets and scale exponentially.”
BlueSemi, founded in 2017, is into building products in preventive and connected healthtech. Initial support for the startup had emerged from T-Hub, CIE at IIIT-Hyderabad and NASSCOM 10K Startups. The company is also funded the Department of Science and Technology and also the Ministry of Electronics and Information Technology.
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