Digital Healthtech Startup Doxper Raises $1.1M from Existing Investors in Pre-series A Round
Funding to help double down on impressive growth since the last investment round
InformDS Technologies Pvt. Ltd., the company behind Doxper, has raised $1.1 million in a pre-series A round from existing investors led by Vidal Healthcare. With this round, the fast growing startup has raised a total of $1.9 million.
Doxper, founded by 3 IIT alumni, allows clinicians to instantly digitize their case sheets using a smart digital pen and encoded paper without the need to change their behavior at all. Electronic medical record systems (EMRs) are disliked worldwide by the doctor community as they significantly lengthen consultation times and impede the doctor-patient relationship. The adoption of EMR has either been mandatory but unpopular, or negligible in the case of India because doctors are not comfortable typing. Doxper is directly addressing the bottleneck of clinical data capture. Seamlessly fitting into existing workflows, Doxper’s proprietary algorithms, presently in beta and under continuous advancements, convert handwriting into typed text to open up new patient engagement, analytics and workflow efficiency opportunities across the healthcare ecosystem.
Doxper today is serving over 800 independent doctors & clinicians across 5 cities and growing exponentially powered by very strong referrals and word of mouth. The company has also signed-up 3 of the country’s largest corporate hospitals in Mumbai and Delhi and 1 large pan India super-specialty chain for complete OPD digitization. Apart from recordkeeping of prescriptions & case sheets for general compliance, Doxper’s unique value proposition providing superior patient engagement and improving system efficiency in pharmacy dispensing and labs will drive the next level growth for these institutions. As Doxper readily integrates with any existing HIS and with almost no required training, any institution can implement Doxper in no time.
Doxper is building India’s first real-time and cashless OPD network. New products will be possible with Doxper’s end-to-end technology suite, opening up the cashless OPD insurance market for rapid growth. Other areas of application and impact include Public Health (screening, disease registries, disease trends, healthcare supply chain and policy), Pharma (real world evidence & CROs) and Remote & Home healthcare (geriatric care, sample pickups, allied healthcare services).
Shailesh Prithani, Co-Founder & CEO, added, “A relatively quick follow on funding round from existing investors is a massive vote of confidence that our consistent and fast growth is for real and based on a very solid product-market fit. We are solving a universal and fundamental problem. Healthcare for an individual often spans multiple decades. Thus, historical records will always be vital for quality care. The sooner healthcare records are digitized in the patient journey, the greater the potential for a seamless ecosystem between providers, payers, patients and policymakers. India has the potential to leapfrog the EMR troubles of the West, and we are on our way to being the product of choice for clinicians to digitize their practices and improve patient outcomes in the process.”
“We are very excited to partner and support Doxper in its journey. Globally, OPD contributes significantly more than IPD to insurance. Cashless OPD insurance is set to grow in India and Doxper will play a significant part in promoting this growth.” said Girish Rao, Chairman and MD of Vidal Healthcare Services, whose wholly owned subsidiary is one of the country’s largest TPAs.
The company plans to use the funds to expand its geographical sales presence and increase R&D spend for new products in analytics, patient engagement and real-time interoperability. Beyond India, Doxper is currently piloting in Bangladesh and Nigeria and is actively engaging with partners in UK, Middle East, Southeast Asia, Brazil and South Africa to start operations by early next year.
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