Funding

US-based SkyLimit integrated wellness solutions secures funding from Indian movie actor Vivek Oberoi

SkyLimit Integrated Wellness Solutions, a multi-discipline regenerative medicine and anti-ageing facility, has secured funding from movie actor Vivek Oberoi. The film actor has picked up a majority of stake in the company. Vivek along with SkyLimit’s founder Haresh M Mehta will put in Rs 500 crore over the next three years.

US-based SkyLimit integrated wellness solutions secures funding from Indian movie actor Vivek Oberoi

Founded in 2012, the US-based SkyLimit uses the latest in medical and health technologies to deliver alternate and non-invasive treatment for joint pain, neuropathy, spinal disorders and weight loss. While it currently has two clinics in the US — Rock Hill in South Carolina and Decatur in Georgia, the company claims to offer treatment to 30,000 patients for obesity management, 15,000 patients for pain management, and 10,000-12,000 patients for diabetes and neuropathy per year.

“I saw this as a very lucrative opportunity to get advanced American technology in the medical field to India and decided to partner Haresh. I have taken majority stake in the company and together we plan to invest over Rs 500 crore in the next three years,” Oberoi told to ET.

He further said, “The business model will allow a high return on investment and an average breakeven period of three years, including upgrades.”

The company had launched its India operations last year with a clinic in Juhu, Mumbai and further plans to utilised capital to open 150 clinics across India. Soon, it will launch its flagship clinic in World Trade Centre in Mumbai.

There was a long list of bollywood stars, who have been interested in investing in startups. The list includes Amitabh Bachchan, Anil Kapoor, Saumya Tandon, Manoj Bajpayee, Neha Dhupia, Ajay Devgan, Karishma Kapoor and Hrithik Roshan.

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