Siddharth Pansari, President CAN announced CAN’s investment in LetsMD, a Delhi based health-tech start-up which addresses the discovery, transparency and affordability problem in healthcare through a marketplace based approach. Started only in December 2015, LetsMD has already on-boarded around 300 hospitals and single specialty chains in Delhi-NCR as partners for the marketplace, including big names like: Fortis Healthcare, BLK Hospital, and Apollo Hospitals etc.
The company is founded by serial entrepreneurs with experience across sectors. Nivesh Khandelwal, a Wharton MBA with more than a decade of entrepreneurial experience across sectors. Prakhar Gupta, a Purdue university grad with start-up experience across Silicon Valley and India. Tenzin Thargay, an IIM - B grad with more than a decade of experience across consumer internet and digital health platforms.
Siddhart Pansari, commented, “LetsMD is in the process of creating a unique platform by bringing together all actors in the healthcare ecosystem on to a single integrated marketplace. It is CAN’s first round with LetsMD and incidentally is the biggest investment for CAN members in terms of the amount invested. I’m hopeful LetsMD will be a game changer in the healthcare sector."
Under the able championship of Mr. Prashant Jalan and Mr. Saurabh Dudhoria, CAN has led the fund-raising round & completed the entire task.Mr. Jalan said, “This is the first co-deal championship for me and am contented by the outcome. LetsMD will have a huge impact in the healthcare sector and in the lives of the users as well.”
Dudhoria commented, “This investment is a testament to the team’s commitment and we, at CAN, are extremely excited by this and look forward to associate with LetsMD in the future.”
Nivesh Khandelwal said, “LetsMD will enable Accessibility and Affordability of tertiary level healthcare in India. We believe CAN, with its large and diverse network of investors will play a key role in enabling relationship acquisition for LetsMD. This fund raised, will be used to build the technology, develop the team and marketing.”
Shanti Mohan Founder of LetsVenture, said, “LetsMD addresses two of the biggest problems of the Indian healthcare industry : price transparency and timely financing for an almost uninsured population. Patients and their families need such platforms to meaningfully compare the quality & pricing of procedures across hospitals, and be able to pay for them before it is too late. The company has received great interest from Investors on LetsVenture who are not only providing funding, but are also supporting the business with advice and connections.”
With this investment, members of CAN now hold around 8% stake in LetsMD for an undisclosed amount. Other than CAN, LetsVenture also invested in the company.
LetsMD, an integrated classifieds allowing users to compare surgery prices of hospitals, announced a successful Angel round for an undisclosed amount with Anupam Mittal, Calcutta Angels Network, Currae Healthtech Fund and other investors on LetsVenture.