Maternity care chain Cloudnine secures funding from IVFA


Funding story

Healthcare chain Cloudnine Hospital has managed to secure a significant boost by notching up an investment of Rs. 400 crore from India Value Fund Advisors(IVFA). Matrix Partners India, an existing investor of Cloudnine’s, managed to rack up a sevenfold return from its holding. According to insiders, Matrix sold a part of its holding for Rs. 150 crore. Also, IVFA became a minority stakeholder through the conclusion of this process. Siddharth Dhodiyal and Sanjay Arte of IVFA also joined as members of IVFA.Moreover, about 10-12 hospitals are likely to be set up each year using the raised funding. Several exciting Cloudnine ventures will be set up in collaboration with other enterprises.

About Cloudnine

Cloudnine specializes in maternity care and childcare, a facet of healthcare where the expertise of the private sector is sorely needed in India. Their excellent team has made possible over 27,000 births across regions, and they make use of the services of a 2000-member strong team. Cloudnine offers holistic services extending across many sub-segments of healthcare-these are infertility care, gynecological care, neonatal care, pediatric care, new born intensive care and high risk pregnancy care. Their excellent team makes childbirth-related concerns a thing of the past. And the chain has tasted one success after another-currently, it is valued at Rs. 1300 crore, having raised over Rs. 545 crore from investors since its inception. Cloudnine runs a number of facilities across the country. 12 of them are located in Bengaluru, which is the HQ. Chennai(1), Pune(2), Gurgaon(1) and Mumbai(1) also boast of Cloudnine facilities.

About IVFA

This deal has been a huge boost for IVFA, which has earned great renown through its investment in various scientific and technological ventures. Its  latest investment  is its eighth investment in Indian healthcare enterprises, having previously entered into commitments with Care Hospitals, DM Healthcare and Syngene Ltd., among others.

For more info, visit the chain’s website.


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