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November 8, 2023 YourStory

Hearing Solutions secures Rs 50 Cr from 360 One Healthcare Opportunities Fund


Hyderabad-based audiology chain Hearing Solution (Hearzap) has secured Rs 50 crore (~$6 million) in Series A funding from 360 One Healthcare Opportunities Fund, a private equity (PE) fund specialising in healthcare and life sciences under 360 ONE Asset.

In exchange for a minority stake, the funds secured from 360 One Healthcare Opportunities Fund will be deployed to scale up Hearzap’s operations across the country over the next three years.

Veda Corporate Advisors was the exclusive financial advisor to the company.

“Hearing Health is an attractive and growing market. We were deeply impressed with Raja and his team’s deep understanding of customers’ needs and the challenges of the market. Hearzap has been a pioneer in offering hearing health solutions in India and is now leveraging technology to offer these products and services at scale,” Nidhi Ghuman, Senior Executive Vice President at 360 ONE Asset, remarked on the fund’s first investment.

The PE fund specialises in healthcare and life sciences, with the aim to identify and invest in promising opportunities within the healthcare sector.

“With the financial and strategic backing of the 360 One team and its significant expertise in the healthcare sector, Hearzap is poised to introduce ground-breaking technology and services,” Selvaraj Rajapandian, Founder and Managing Director of Hearzap said.

The Hyderabad-based firm provides a digital suite of applications for remote diagnostics and virtual shopping experiences. It operates more than 90 audiology clinics that also serve as hearing experience stores in seven states, offering hearing care with a team of over 100 audiologists.

​​360 ONE Asset Management, a part of 360 ONE, is an alternate asset management firm with a portfolio of over $7 billion in alternate assets and public market mandates, while 360 ONE PE—its PE arm managing approximately $2.5 billion—focuses on healthcare, technology, financial services, and consumer industries, including healthcare investments like Kauvery Hospitals, Nephroplus, and Infigo Eye.