Bengaluru-based health-tech startup HealthPlix recently said that it has raised $6mn in Series B funding round. The funding round was led by a new investor in the company, JSW Ventures. JSW Ventures is the venture capital arm of Jindal family-backed JSW Group.
The funding round also saw participation from existing investors like Chiratae Ventures and Kalaari Capital, said the company in a statement.
Founded in 2016 by Raghuraj Sunder Raju, Prasad Basavaraj, and Sandeep Gudibanda, the company enables doctor video consultations through its app. The firm’s electronic medical record (EMR) software helps medical practitioners in digitizing their entire clinical operations and clinical treatment methodologies and generating e-prescriptions under 30 seconds.
The company currently claims to assist with more than 50,000 consultations on a daily basis across 12 medical specialties, in more than 180 cities across India.
In an official statement, the company said it is also exploring collaborations with the state governments to bring Covid-19 disease information on a single platform. The startup’s co-founder Gudibanda said that it can use real-world evidence (RWE) platform to assess the efficacy of various treatments being deployed and thus contribute to the research of Covid-19 treatment.
So far the company has raised $10mn in funding to date. Earlier in 2018, the startup raised $3mn in Series A funding from Chiratae Ventures and Kalaari Capital.
JSW Ventures earlier this year in January had marked the first close of its second fund that seeks to raise a total of ₹350Cr, approx $50 million.
Talking about the recent investment, Gaurav Sachdeva, Managing Partner of JSW Ventures said, “…We believe that HealthPlix is uniquely positioned to take advantage of strong tailwinds that the Indian healthcare industry is experiencing in terms of increased medical information capture, interoperability, and automation.”
With the ongoing health crisis, investors have been bullishly putting their money into health related startups. While the other sectors of the startup ecosystem are eyeing for an investment, the healthcare sector is witnessing a surge in capital infusion. According to experts, health-tech is the most preferred sub-domain for venture capitalists this year.
Recently, the merged entity of doctor consultation platform DocsApp and Bengaluru-based MediBuddy received $20mn as part of its Series B round of funding.
