Medfin, a discovery platform for medical procedures and financing, has raised Series A funding led by HealthXCapital, a Singapore-based healthtech venture capital fund, and Blume Ventures.
Japan’s Dream Incubator and existing investor Axilor Ventures have also participated in the funding round.
The startup plans to utilise the funds raised to set up Ambulatory Care Centres (ASC) across four cities where it is currently operational—including Bengaluru, Hyderabad, Chennai and Pune. Proceeds from the financing round would also be used for procurement of high-end surgical equipment for day care surgeries.
“Indians will undergo around six crore surgeries this year. With rapid technological improvements, around 60% of all surgeries can be performed at day care/Ambulatory Care Centres (ASC). This brings down the costs for a wide range of procedures like varicose veins, fibroids, kidney stones, hernia, prostate, and piles among others by about 40% with better patient outcomes,” said co-founder Arjun Kumar.
“Medfin represents a new crop of healthcare companies in India which are focused on bringing transparency into the industry; and leverage a glut of supply of OTs and equipment, thereby reducing the cost of delivering a procedure,” said Arpit Agarwal, Director at Blume Ventures.
“We believe Medfin’s model is best positioned to deliver high-quality care at affordable costs. We are happy with the validation of this model as seen in consistently high customer ratings compared to their closest competitors” said Prachi Sinha, head-healthCare investments at Axilor.
Started by Arjun Kumar, Arun Kumar and Sidharth Gurjar, Medfin provides users access to the various treatment options and expert surgeons for their medical procedures at an affordable cost within their city. It offers treatments across various categories like vascular surgery, proctology, gynaecology, urology, orthopaedics, endocrinology, and plastic surgery among others.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.