Healthtech Startup HealthPlix Raises $3M in Series A from Kalaari Capital and IDG Ventures India
The funds will be utilised to further strengthen the technology and expand to various medical specialties
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HealthPlix, a Bengaluru based healthtech firm that assists doctors digitally, has raised $3 million from IDG Ventures India and Kalaari Capital in its Series A round. It was co-founded by Raghuraj Sunder Raju, Sandeep Gudibanda and Prasad HBasavaraj.
HealthPlix will utilise the funds to further strengthen its technology to assist doctors better and expand its team and services in other geographical markets.
While making the announcement, Sandeep Gudibanda, Co-Founder & CEO of HealthPlix said, “We are happy to have gained valuable support from the leading investors - IDG Ventures India and Kalaari Capital. The fundraise will help us to enhance clinical experiences for patients & doctors and thereby create a platform which will revolutionize the Indian healthcare ecosystem.”
HealthPlix is a healthtech platform that helps doctors increase their efficiency and productivity by digitally assisting them in their Clinics and Hospital OPDs. Further, the software allows the doctors to give prescriptions in more than 18 languages which significantly helps in attaining better patient compliance to treatment.
Affirming the investments, Mandar Dandekar, Principal, Kalaari Capital said, “India has a very low doctor to patient ratio and would need to quadruple the number of doctors in the next 10 years to serve the growing population. Since it is impossible to quadruple, the next best thing is to improve the productivity and efficiency of doctors. HealthPlix team has been able to leverage their deep domain expertise in their AI driven EMR which significantly enhances doctor efficiency leading to better patient health outcomes.”
Venkatesh Peddi, Executive Director, IDG Ventures India said, “Evidence based care & Prevention of Medical Errors is a $21 Billion market globally and more importantly saves millions of lives! HealthPlix's Electronic Medical Records (EMR) software for Hospitals and Clinics is driven by assistive-AI led Clinical Decision Support (CDS) system to assist doctors on various diseases and protocols. This can help doctors treat patients better and faster! It truly empowers the doctors in real time.”
More than 1.2 million unique patients are treated by doctors in 150 cities across 20 states using HealthPlix EMR. Uniquely for HealthPlix, 60% of their user base is in tier 2, tier 3 towns and beyond.
Recent deals in the space include, in June, digital health management platform Navia raised a bridge round of $100,000 (Rs 67 lakh) from existing investor Benori Ventures LLP & Unitus Ventures invested in medical technology company Cyclops Medtech Pvt. Ltd; and in April, Doxper, an app that helps doctors maintain patients’ medical records, received $1.1 million (Rs 7.2 crore) in a pre-Series A round of funding from existing investors led by Vidal Healthcare; LetsMD, a fintech startup in the healthcare space, secured $1 million (Rs 6.5 crore) in a pre-Series A round led by SRI Capital; and Delhi-based diabetes management app BeatO raised $1.3 million (Rs 8.45 crore) in a funding round co-led by Blume Ventures and Leo Capital.
Other players operating in the healthtech space are such as MedPlus, NetMeds, 1mg, Visit, Innovaccer, Lybrate, Zoctr, and Tricog, among others.
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