Phable raises $25 Mn in Series B round

Chronic disease management startup Phable has raised $25 million in its Series B round led by Kalaari Capital with participation from Aflac Ventures, Digital Horizon and Stride Ventures. Existing investors Omron Ventures, SOSV, Social Starts, and Fresco Capital also participated in the round. 

According to the Bengaluru-based startup, the funds will be used to strengthen its full-stack and value-driven chronic care ecosystem, accelerate market expansion, customer acquisition and build new revenue streams.

Founded in 2018 by Sumit and Mukesh, PhableCare is an app-based and specialised platform for chronic disease care. The disease management app bridges the gap between doctors and patients through a full-stack solution that delivers remote consultations and care, timely and intelligent insights, and simplified access to healthcare essentials. 

The startup claims that currently over three million patients and more than 10,000 doctors and over 1000 pharmacists use PhableCare’s technology making it the market leader in this segment. 

The startup has plans to acquire other players through strategic investments, which will consolidate PhableCare’s position in the category.

In February 2021, it secured Rs 90 crore in Series A funding led by Manipal Hospitals. Later 2021, the startup received an additional Rs 14 crore from Omron Ventures through primary capital infusion and a venture debt facility of Rs 45 crore from Stride Ventures.