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Wellx raises $2m in seed funding to boost business growth

By Delisha Fernandes

July 27, 2023

  • AI
  • financial news
  • Fintech news

WellxWellx, a health and wellness-focused InsurTech platform, has announced the completion of a $2 million seed funding round. The investment will enable the UAE start-up to accelerate regional growth and drive technological innovation.

“We are thrilled to have the opportunity to work in this sector and, through our intense focus on customer-centric design, change the way customers experience insurance from a grudge to a great purchase! This funding empowers us to accelerate our growth plans and expand our global customer base,” said Vaibhav Kashyap, Co-Founder and CEO of Wellx.

This seed funding round led by Dubai Future District Fund (DFDF) saw participation from a diverse group of investors, including MENA-focussed DASH Ventures, Annex Investments, KSA based 500 Global / Sanabil Investments, Plus VC, alongside international VCs, including Aditum Investments (Luxembourg), Loyal VC (Toronto) and Plug and Play Ventures (Silicon Valley).

This $2 million seed funding secured, will play a significant role in fuelling Wellx’s growth. By investing in intuitive design, and emerging tech, including AI coaching, Wellx will strengthen its customer-centric approach, enhancing the insurance industry and providing seamless, personalised insurance experiences that deliver exceptional value to its customers.

“This $2 million investment will reinvigorate our brand as we continue to work towards spearheading the adoption of healthier habits in alignment with the UAE’s National Strategy for Wellbeing 2031. We are fully charged to take on the market and excited to expand our product lines and services,” said Javed Akberali, Co-Founder and Managing Director of Wellx.

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