Health tech startup LiveHealth has raised $1.1 million from Nexus Ventures in a Seed round. The startup plans to use the fresh capital to scale up its operations and strengthen product knowledge.
Founded in 2013 by Abhimanyu Bhosale and Mukund Malani, LiveHealth digitises records from diagnostic laboratories through its SaaS platform and makes them available on the cloud to patients and doctors.
Besides doctors and consultants, the mobile app-based platform also allows patients to monitor medical reports using trackers.
The Pune-headquartered company has digitised more than 72 million records since it’s inception.
The company claims to deliver over 50,000 digital medical records to doctors and patients every day.
Currently, it works with around 650 diagnostic centres across India and Africa and plans to expand in other nations as well.
Industry experts believe that an imperative part of all this is the new age models that are unshackling the traditional forms of healthcare delivery and products including digitization of services and product innovation and disinter-mediation of delivery models. All these are being driven by the need to provide access, affordability and quality.
The total Indian healthcare sector is valued at over Rs 7 trillion and is growing at a rate of over 15 per cent per annum, making it one of the most attractive sectors for investment by the private sector.
Of late, Apollo Hospitals in partnership with IBM had announced to launch an investment fund with a total corpus between $50 million and $100 million to fund the healthcare startups across the country.
Apollo Hospitals plans to work as an accelerator and aims to develop onco-diagnostics system in the country. It will also help the emergence and growth of healthcare startups across the country.
