**Pristyn Care Seeks Funding for Beatxp Amid Leadership Changes**
Healthtech startup Pristyn Care is currently negotiating to raise $7-10 million for its fitness-tech subsidiary, Beatxp, after a year of seeking funds. This funding is critical for the company’s growth, especially as it faces recent senior-level departures, including the resignation of Shaloo Varma, the senior vice president of the medical directorate.
Founded to provide minimally invasive surgical solutions, Pristyn Care is now focusing on expanding Beatxp, which offers products like massage guns and weighing scales. The company is in discussions with several investors, including existing supporter Peak XV Partners, with a term sheet expected to be finalized within two weeks. This funding is anticipated to extend Beatxp’s operational runway and facilitate growth until a larger investment round can be secured.
An anonymous investor highlighted the importance of this funding round, noting that Beatxp’s sales have stagnated following a reduction in smartwatch offerings. The current negotiations represent a significant decrease from Pristyn Care’s earlier ambitions to raise $50-75 million at a valuation of approximately $400 million for Beatxp.
In addition to funding challenges, Pristyn Care is navigating a wave of senior executive exits, with Varma’s departure marking the latest in a series of leadership changes. Varma, who held her position for about 4.5 years, has not publicly commented on her resignation. Pristyn Care’s co-founder and CEO, Harsimarbir Singh, expressed pride in the company’s leadership team, many of whom have been with the company for over four years.
As Pristyn Care continues to adapt to these challenges, the outcome of the current funding negotiations will be pivotal for the future of Beatxp and the overall growth trajectory of the company.
**FAQ**
*What is Beatxp and why is it important for Pristyn Care?*
Beatxp is a fitness-tech subsidiary of Pristyn Care that sells wellness products. Its success is crucial for Pristyn Care’s growth, especially as the company seeks to expand its market presence and recover from recent leadership changes.
