The exit was part of a financial secondary transaction. CPO, known for its significant presence in the orthotics and prosthetics sector, has now raised a new round of growth capital led by NorthCreek and Parkway Partners.
CPO's growth and expansion
CPO, co-founded by Amit Bhanti, said it has witnessed significant growth after acquiring four different orthotics and prosthetics (O&P) practices. The expansion has enabled CPO to operate over 35 clinics, placing it among the top 7 O&P practices in the United States.
In addition to its core services, CPO has developed in-house solutions to address technological gaps in claims management, evolving into a Software as a Service (SaaS) provider for the industry.
VenturEast's recent exits
The exit from CPO marks the eighth exit (either full or partial) for VenturEast since the beginning of 2021. Notably, the fund recently partially exited from Zaggle, which experienced a 60% increase following its IPO in September. Other notable exits by VenturEast include iNurture, Seclore, Indus OS, and Richcore Lifesciences.
Broader Trends in Venture Capital Exits
The exit from CPO is part of a broader trend of secondary exits in the Indian startup ecosystem in 2023. Recent examples include JSW Ventures exiting its shareholding in Purplle, Artha Venture Fund's partial exit from Everest Fleet, and First Cheque's partial exit from GIVA.