Logistics and supply chain firm Wheelocity on Tuesday said it has raised a $15 million funding round led by existing investor Lightspeed. Separately, US private equity fund, TA Associates, will acquire the Bengaluru- and US-based revenue cycle management (RCM) services provider Vee Healthtek for $250 million, the Economic Times reported.
Wheelocity raises $15m
Logistics and supply chain firm Wheelocity on Tuesday said it has raised a $15 million funding round led by existing investor Lightspeed. The round also saw participation from Alteria Capital, Anicut Capital, and the company’s founder.
In six months, Wheelocity has established its presence in over 3,500 towns and villages, serving one million consumers. The fresh funding will power the company’s expansion to 20,000 towns and villages over the next 12 months, targeting a user base of 10 million consumers, it said in a statement.
Wheelocity had raised $12 million in a Series A round led by Lightspeed in 2022.
Other investments by Lightspeed in India include Physics Wallah, Razorpay, Rubrik, Sharechat, Snap, OYO Rooms, Ultima Genomics and Zepto.
TA Associates to buy Vee Healthtek for $250m
US private equity fund TA Associates will acquire the Bengaluru- and US-based revenue cycle management (RCM) services provider Vee Healthtek for $250 million, the Economic Times reported on Tuesday.
Vee Healthtek, owned by South India-based Sona Group, provides services including revenue cycle management, professional billing, and IT services to hospitals, health systems, pharmaceutical companies, and physician groups globally.
The company boasts a workforce of 5,000 employees worldwide and is expected to post $100 million in revenue in FY25, the report added.
TA will own a significant majority stake, while the promoter—Chennai-based Valliappa family—will retain a minority stake.
