AI-focused company, Cherish Health, pulled in an impressive $26m without seeking assistance from venture capitalists. Now, this unconventional firm eyes a further $30m Series B round to reach a huge $200m valuation.
Company Co-founder and CEO Sumit Nagpal, with a notable track record in the digital health realm, is steering this bold approach. Under Nagpal’s leadership, the company has continually adjusted to the swift dynamism of the digital health industry and is now distinguishing itself thanks to innovative strategies.
Nagpal’s deeply rooted belief in collaboration and creativity has fostered an hourly workplace environment. He directly ensures that teams share his passion for the company’s mission and values and consistently puts client needs and feedback at the core of Cherish Health’s strategic decision-making processes.
As well as being admired for his determination and dedication, Nagpal is seen as part of a new wave of victorious entrepreneurs in the industry. His dynamic nature has earned him due respect in digital health circles.
In Nagpal’s pursuit of independence for Cherish Health, he has sidestepped his routine fundraising from venture capitalists and taken a different path.
Cherish Health targets $30m Series B funding
Instead, he has focused on wealthy private individuals and corporate sponsors.
This method requires serious effort but it allows Nagpal to safeguard the course of his project. Assuredly, his project remains independent, free from any outside forces that may seek to manipulate its direction.
Cherish Health aims to tackle reluctance toward invasive and inaccurate fall detection devices with a novel $330 radar-based gadget. This innovative device, designed to be non-intrusive and highly precise, will offer broad coverage for up to three rooms and looks to revolutionise fall prevention strategies in healthcare.
Cherish Health was birthed from Nagpal’s vision for holistic health and patient-centric healthcare solutions. As well as rejecting offers to develop technology within other firms, Nagpal moved on to establish the company, raising $14 million in an initial seed funding round from friends and family. The rest of the funding so far has come from healthcare executives, former colleagues and Silicon Valley investors.
With its solid financial backing, the company has attracted some of the best talent in the industry and can focus on its primary aim of healthcare technology innovation. Cherish Health’s unique and diverse fundraising journey is a shining example of a successful startup story.
Historically, Cherish Health’s funding has steadily grown, impressively reflecting investor confidence in the company’s vision to revolutionise public health with technological innovation.
In their next phase, the company foresees a broader spectrum of investors contributing to their noble cause as they continue in their ambition to bring revolutionary changes to healthcare.
