B2B and B2C ayurveda tech platform NirogStreet, has raised $2 million in Pre -Series A funding. The funding is led by Wavemaker Partners and Amand Ventures. Existing investor Spiral Ventures has also participated in this round.
NirogStreet empowers ayurvedic doctors by creating a platform for them to discuss cases in real-time and consult patients across the globe for the first time via Tele-Ayurveda. NirogStreet’s e-commerce platform supports the delivery of medicines to their patients worldwide.
The startup claims to get huge response from the deeper pockets of the country as only 30 percent of the doctors on its platform are from tier-1 cities and remaining 70 percent belongs to tier 2 and 3 cities.
NirogStreet services more than 50,000 doctors on its peer-to-peer learning, patient engagement and e-commerce platform. From a network of 200 NirogStreet certified Ayurvedic clinics, the company aims to expand to 5,000 clinics by 2022. With the growing adoption and demand of Ayurveda across the world, the brand has plans to expand globally.
Paul Santos, Managing Partner of Wavemaker Partners, said, "Ayurvedic medicine is one of the world's oldest holistic (whole-body) healing systems. It was developed more than 3,000 years ago in India. Ayurveda has provided relief and treatment for chronic conditions for thousands of years. However, it is plagued by non-standardised doctors and medicines. There are 600 thousand certified Ayurveda doctors but millions of unqualified practitioners.”
“This leads to low trust and satisfaction among patients. NirogStreet has been doing some groundbreaking work in mainstreaming Ayurveda discipline not just in India but across the globe by strengthening the trustworthy Ayurveda practitioner fraternity in India and nurturing the sustainable healthcare ecosystem by capacity and knowledge building. We're proud to back Ram and his team at NirogStreet.”
The startup will utilise the capital for deeper penetration, strengthen technology platform and digitise supply chain. The funds acquired would be dedicated to strengthening its reach and offering to the Ayurveda doctors.
The company aims to strengthen its reach and offering by providing an engaging technology platform and building a network of Ayurvedic clinics for the delivery of services to patients in the challenging health environment.
Ram N Kumar, Founder, NirogStreet, said, “The recent investment will be employed to strengthen the technology platform and strengthen the supply chain to ensure delivery of quality medicines to Ayurveda doctors and clinics. Ayurveda has been vulnerable to the problem of substandard medicines and NirogStreet, from the very beginning, has directed its efforts towards rooting out this problem. We are committed to democratizing technology for bringing in impactful solutions that can empower doctors in providing better services and quality medicines to their patients just with a single click. ”
The company plans to partner with over 100 Ayurvedic medicine manufacturers and brands in the next one year to provide the best quality medicines to the patients. It has enabled over 60,000-plus Ayurvedic doctors to adopt evidence-based treatment in Ayurveda using its NirogStreet for Ayurveda doctor’s mobile application. This technology-driven SaaS platform provides access to authentic Ayurveda doctors on a global scale with a focus to implement best practices and deliver quality Ayurveda healthcare.