Spry Therapeutics, a Pune-based software-as-a-service (SaaS) startup, has raised $15 million in funding, with Flourish Ventures leading the investment round. The company, which builds innovative software for physical healthcare centers, is looking to establish a strong presence in the global market.
The funding round also saw participation from existing investors, including Together Fund, Eight Roads Ventures (Fidelity), and F Prime Capital. Co-founder Brijraj Bhuptani, who previously served as the Chief Technology Officer at Ola, emphasized Spry’s ambition to target the largest market in the world—U.S. healthcare. “U.S. healthcare isn’t a single $4 trillion industry, but rather a collection of smaller $4 billion opportunities,” Bhuptani said. “To make a real impact, companies need to focus on depth, not just breadth. Spry is transforming how physical therapists manage their practices.”
This latest round of funding brings Spry’s total capital raised to $25 million. Since its launch, the startup has successfully onboarded 105 clinics in the U.S. within just 18 months. With the fresh influx of funds, Spry plans to expand its presence by building a dedicated sales and support team and increasing its client base in the U.S. market.
The demand for physical therapy is on the rise, driven by the increasing need for post-surgical rehabilitation and preventive care aimed at promoting long-term health. Kabir Kumar, partner at Flourish Ventures, highlighted Spry’s role in addressing a significant gap in the market. “Spry is helping small businesses in the physical therapy space streamline their operations by providing digital tools for managing insurance claims,” he explained. “India’s vast pool of IT talent, particularly in healthcare insurance processes, is a key asset in building this software.”
Riyaz Rehman, Spry’s other co-founder and former Head of Business at Ridlr before its acquisition by Ola, is equally focused on leveraging this opportunity to further grow Spry’s influence in the physical therapy sector.
With its sights set on revolutionizing physical therapy practices, Spry Therapeutics is poised for continued success in the global healthcare software market.