Hyderabad-based healthtech startup Ekincare has carved out a significant niche in India’s growing corporate wellness market by offering a managed marketplace and analytics platform for employee health benefits. Founded in 2015, the startup pivoted early from being a consumer health-records tool to targeting enterprise clients, capturing major customers such as Capgemini, McKinsey and Toyota.

Financially, Ekincare’s revenue nearly doubled to ₹93.0 crore in FY25, with net loss narrowing to ₹19.9 crore—tangible progress toward its aim of reaching EBITDA break-even in FY26. Its business model hinges on enterprise subscriptions (per-employee), an asset-light partner network (labs, telemedicine, fitness), and leveraging its AI/data backbone to offer insights and preventive health services. 

Still, the road ahead isn’t without challenges. The corporate wellness space is highly fragmented and competitive, with thin differentiation among intermediaries—puts pressure on margins. Moreover, entities operating as “managed marketplaces” (rather than owning distinct proprietary products) are vulnerable to commoditisation and client churn. Scaling meaningful engagement and demonstrating measurable health-outcome improvements remain structural hurdles.

All told, Ekincare is executing well on growth—but converting that into durable profitability will require strengthening its product moat, deepening locked-in client relationships, and proving that wellness spend can drive hard ROI for enterprises. The question now: can it turn the corner in FY26?