Indian American raises $10 million in Series A funding through ‘eternal Health

John Sculley, former Apple CEO, who was involved in the Series A funding round, believes in the mission of eternalHealth, founded by Indian American entrepreneur Pooja Ika, the first woman to launch a new Medicare Advantage Health Plan in the United States

PRAVASISAMWAD.COM

BOSTON (Massachusetts)

A business initiative of an Indian American raised $10 million in Series A funding through ‘eternal Health’, the first new health plan to be approved in Massachusetts since 2013, a report in India West said.

This additional financing follows an initial $10 million in Seed and Pre-Series A investment by successful healthcare and tech entrepreneurs last summer, said a press release.

“John Sculley, former Apple CEO, who was involved in the Series A funding round, believes in the mission of eternalHealth, founded by Indian American entrepreneur Pooja Ika, the first woman to launch a new Medicare Advantage Health Plan in the United States,” the report said.

“The Series A funding will be used to support the day-to-day operations, and help attract and retain membership, while most of the capital will be used as risk-based capital to support the company’s membership growth.”

— Pooja Ika

The report quoted Sculley, former Apple CEO and an investor and shareholder in eternalHealth. “Around two decades ago, I decided I wanted to disrupt the healthcare industry by collaborating with entrepreneurs who believed in their mission.” said Sculley, former Apple CEO and an investor and shareholder in eternalHealth…I truly believe we have a healthcare Moonshot with eternalHealth and I am excited to see how we can better the space together. I believe in Pooja’s mission and with the help of her team, she has been able to accomplish so much in one year.”

According to Ika, the Series A funding will be used to support the day-to-day operations, and help attract and retain membership, while most of the capital will be used as risk-based capital to support the company’s membership growth, noted the release, India West report said.

“Typically, the launch of a new health plan takes two to three years and costs tens of millions of dollars,” the quote from Ika said.

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