UAE-Based Wellness Platform Wellx Raises $2 Million in Seed Round

Wellx, a UAE-based health and wellness-focused InsurTech startup, has raised $2 million in a seed funding round. The startup plans to use these funds to fuel its regional expansion and technological innovation.

Led by Dubai Future District Fund, the round included investors like DASH Ventures, Annex Investments and Saudi Arabia-based 500 Global and Sanabil Investments, as well as international venture capital firms Aditum Investments, Loyal VC, and Plug and Play Ventures, according to a press release shared with Startup Scene. Angel investors with experience in healthcare also participated.

"The funding empowers us to accelerate our growth plans and expand our customer base across the region," Wellx CEO Vaibhav Kashyap tells StartupScene. 

Founded in 2022, Wellx offers personalised wellness insurance programs using behavioural science and gamification. The fresh capital will be used to "continue orchestrating innovation in new technologies" like AI coaching and emerging tech that strengthen its customer-centric approach, the release notes. 

The company aims to disrupt the insurance industry by providing "seamless, personalised insurance experiences that deliver exceptional value" to customers, co-founder and managing director Javed Akberali tells Startup Scene. Wellx's ambitious expansion plans include attracting global talent, developing new functionality, and innovative customer experiences, according to co-founder and chief product officer Dr. Anushka Patchava.

Wellx currently serves over 15,000 insured members through partners like Dubai National Insurance, Salama, and National Life. It also partners with wellness players like WHOOP, Fitbit and FittMeals.