Meddo, iKure Techsoft and ASG Hospitals add to the list of healthcare-focused companies that are receiving funding recently.
Healthcare, both traditional and digital, seems to be emerging as one of the new growth frontiers, with the industry expected to hit the valuation mark of over $250 billion by next year. Within healthcare, the health tech space currently consists of over 5000 startups, having raised more than $500 million since 2014. A small example of the rising interest in healthcare is reflected in three deals announced on Wednesday. Two of the three deals were in the health-tech space and one for a traditional brick and mortar hospital, but a super specialty.
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Meddo, a Gurugram-based health tech startup, raised $3 million in a pre-series A funding. Meddo, which started operations last year, provides both online and offline platforms for services such as doctor appointments and diagnostic tests.
The platform currently has 400 doctors and 200 clinics in the Delhi-NCR region. The pre-series A funding was led by SRI Capital and also included growX Ventures, LetsVenture, Citrus Pay co-founder Jitendra Gupta and Venture Gurukool.
Meddo was co-founded by ex Foodpanda India chief executive Saurabh Kocchar and Dr Naveen Nischal, co-founder of Cygnus Hospitals.
Kolkata-based iKure Techsoft, a social health enterprise, also announced that it received an undisclosed amount of funding from Inflection Point Ventures (IPV).
iKure Techsoft, founded by Sanjay Santra, is focused on primary health, prevention, wellness services to rural, semi-urban and urban areas. It operates eight primary healthcare clinics and six mini-clinics and undertakes weekly health intervention programs. iKure has covered over 3000 villages across seven states.
IPV was founded 2 years ago by CFOs and finance professionals from startups such as Myntra, Grofers etc.
From the brick and mortar space, ASG Hospitals, which is focused on eyecare, raised Rs 308 crore in a funding round led by investment firms Foundation Holdings and Symphony.
ASG Hospitals was founded in 2005 by two doctors—Arun Singhvi and Shashank Garg—and is backed by investors such as Sequoia and Investcorp. It has over 30 centres in India, Africa and Nepal and has treated over five million patients. The eye delivery healthcare space is expected to be an over $4b market by next year with single-speciality hospitals being another reason for interest.
Meddo, iKure Techsoft and ASG Hospitals add to the list of healthcare-focused companies that are receiving funding recently. Other names include e-pharmacy firms PharmEasy and NetMeds, and Practo and Wellthy Therapeutics from healthcare delivery or prevention space.
First Published: Sept 19, 2019 12:14 PM IST