Healthcare startups continue to impress investors with their technology and are getting sort of validation from them, who are willing to pump in funds in such platforms.
The latest in the segment is digital integrated platform MyHealthcare, which received $2 million as Series A funding led by Hunch Ventures. Besides, Ajay Nanavati, Angel Investor and former MD of 3M India and Israel, participated in the round.
MyHealthcare, founded by InnoCirc Ventures, is based on a partnership model with hospitals and offers technology for the hospital network across all its patient-facing services. It works with hospitals in enhancing their care solutions by transitioning the care process from paper to digital form.
The Gurugram-based company provides mobile healthcare solution such as EMR, health trackers, emergency services, video consult and 24×7 health monitoring, among others.
With the new funding, the platform will invest in building technology such as AI and ML for predictive analysis, which will aid doctors in the diagnosis process.
The platform has launched operations across India and is now expanding its services to Malaysia, Indonesia and Myanmar. One of India’s largest hospital networks, the Fortis Group of Hospitals are among its customers, along with others such as Cygnus Hospitals and PH Siloam Hospitals (Myanmar).
In the past few months, health care has once again heated up as biggies like Reliance, Apollo and IBM go on investment spree.
Early this year, Apollo Hospitals in partnership with IBM was planning to launch an investment fund with a total corpus between $50 million and $100 million to fund the healthcare startups across the country.
According to media reports, Apollo Hospitals had plans to open an accelerator that will provide an investment of $5 million at first and then later bolster another $10 million.
Besides Apollo, many other venture firms are interested in investing in the healthcare space in India.
Silicon Valley-headquartered investment firm, Bessemer Venture Partners (BVP) is also eyeing to invest $40-50 million in Indian healthcare startups this year.