Temple’s ESOP buyback currently values the company at $375 million, almost double the USD 190 million valuation at which it secured $54 million in seed funding in February this year.
Healthtech startup Temple, backed by Eternal founder Deepinder Goyal, is reportedly planning to raise fresh capital at a valuation of around $ 500 million as it enters the next phase of growth.
The latest development comes alongside the launch of the company’s first employee stock ownership plan (ESOP) liquidity programme at a $375 million valuation.
The programme enables eligible early employees to monetise a portion of their vested stock options ahead of the proposed fundraising.
As per reports, Temple’s ESOP buyback currently values the company at $375 million, almost double the USD 190 million valuation at which it secured $54 million in seed funding in February this year.
The liquidity programme is expected to cover around 20 employees from the company’s workforce of approximately 200 to 220 people, with eligible participants able to sell up to 25 per cent of their vested ESOPs.
In addition, Temple is developing a wearable health device, which is expected to be priced between INR 75,000 and INR 80,000.
The device is designed to monitor metabolic and physiological parameters and is currently available through an early access programme.
The pricing is still indicative and will include lifetime access to Temple’s software platform.
The manufacturing is being supported through partnerships with Ethereal Machines and Zetwerk as the startup moves towards a broader market rollout.
Earlier this year, Temple raised $54 million from investors including Peak XV Partners, Steadview Capital, Vy Capital and Info Edge, along with several founder-investors and early employees.
Further, the regulatory filings indicate that Deepinder Goyal holds around 28 per cent of the company, while employees collectively own about 10 per cent through ESOPs.
Stay tuned for more such updates on Digital Health News
