India, March 6 -- Mumbai-based healthtech startup Truemeds is looking to raise INR 375.2 Cr (about $44 Mn) in a fresh funding round to be led by Accel India VII (Mauritius) Ltd.

The company's board passed a resolution on February 17 to allot up to 49,300 Series C compulsory convertible preference shares (Series C CCPS) at an issue price of INR 76,110.34 each and one equity share at the same issue price to raise the sum, its regulatory filings accessed by Inc42 showed.

Accel India VII (Mauritius) Ltd will lead the round with INR 285.41 Cr investment, raising its stake to 10%. Meanwhile, WestBridge alternative investment fund I will infuse INR 66.68 Cr and its shareholding will increase to 28.15% post the transaction.

The remaining capit...