Healthcare & Life Sciences
VedaCorp advises Hearzap, India’s leading Audiology chain on its Series A funding from 360One
About
Hearzap
Hearing Solutions (Hearzap), headquartered in Hyderabad, is India’s leading audiology chain offering complete comprehensive hearing care through 90+ centres across 7 states. It has also developed India’s first digital suite of audiology applications for remote diagnosis and virtual shopping of hearing care devices. For more information, visit https://www.hearingsolutions.in and https://www.hearzap.com.
360 ONE Asset Management
360 ONE Asset Management, part of 360 ONE, is one of India’s leading alternates asset management firms with overall alternate assets and public market mandates of more than USD 7 billion. 360 ONE Private Equity (PE) is a private equity business with an AUM of approximately USD 2.5 billion and investment strategies extending from mid-stage venture capital to pre-IPO investments. 360 ONE PE has backed several market-leading companies with a focus on healthcare, technology, financial services and consumer industries. Its investments in the healthcare sector include Kauvery Hospitals, Nephroplus and Infigo Eye.
Background
We are pleased to announce that our client, Hearing Solutions Private Limited (“Hearzap”), has successfully raised Series A funding from 360 One Healthcare Opportunities Fund, a leading Health Care services focused mid-market Private Equity Fund. The funds raised would be used for expanding its existing operations nationwide over the next 3 years.
The Hyderabad-headquartered Hearzap is a pioneer in audiology care through its innovative digital suite of applications for remote diagnosis and virtual shopping experience. It also has a strong presence with over 90 audiology clinics cum hearing experience stores across 7 states offering complete comprehensive hearing care with a professional team of 100+ audiologists and exclusive partnerships with reputed international hearing aid brands.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to Hearing Solutions on this transaction. VedaCorp provided comprehensive transaction advisory services covering identification of prospective investors, strategic positioning, and negotiation of key commercial terms.
This is VedaCorp’s 52nd transaction in the healthcare services space and 13th transaction in the single specialty space.
“This is a remarkable moment in the legacy of Hearzap. Our collaboration with 360One amplifies our commitment to pushing the boundaries of what’s possible in hearing health. With the financial and strategic backing of the 360One team and its significant expertise in the healthcare sector, Hearzap is poised to introduce groundbreaking technology and services that will redefine the approach to hearing health industry.
I acknowledge that the expert panel at VedaCorp has been the anchor in providing the right investment guidance at the appropriate time to accelerate our growth opportunities. I thank VedaCorp for its relentless efforts in advising and helping us achieve this significant milestone.”
Selvaraj Rajapandian
Managing Director, Hearzap