Meddo, a health-technology startup that focusses on providing out-patient department (OPD) clinics with digital solutions, has extended its pre-Series A round with a $3 million capital infusion.
The current funding is led by SRI Capital and Picus Capital. Post this round, the company raised a total of $6 million in this round. In September 2019, the company raised $3 million in an exercise led by SRI Capital.
Other participants that participated in the round include LetsVenture, growX Ventures, Citrus Pay co-founder Jitendra Gupta, and Venture Gurukool.
Founded in 2018 by Saurabh Kochhar and Naveen Nischal, Meddo also provides supply chain solutions that include diagnostics support and medicine delivery services.
Kochhar is the former CEO and founder of food delivery company Foodpanda as well as Printvenue, while Nishchal is a co-founder of Cygnus Hospitals.
In a statement, Kochhar said the company will use the capital it has raised in this pre-Series A round to invest in three areas – increasing its geographical presence in the national capital region and other parts of the country; launching MeddoSure, an omni-channel unlimited care membership plan; and enhancing technological infrastructure, with a focus on integrations with the Bharat Health Stack.
Meddo claims it has so far served nearly six lakh patients, on-boarded more than 350 doctors, and has rebranded almost 200 clinics under its brand.
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