New Delhi, 8 th September: ConnectedH, a health-tech company committed to unlocking thefull potential of diagnostics, has raised an undisclosed seed amount in funding from venturecapital First Cheque, Rohit MA (Founder, Cloudnine Hospitals), PointOne Capital, and otherinvestors.
The funding will be used to expand the brand’s geographical presence and integrate itdeeper into the diagnostics ecosystem. It will also be used to widen their value offerings fordiagnostic centres thereby making them a one-stop solution for all their marketing andother needs.
Since its inception in 2018, ConnectedH has been on a mission to simplify healthcare by organizing healthcare data. In alignment with the recent announcement of the government’s National Digital Health Mission, the brand works towards creating a connected healthcare ecosystem where patients have complete control and 24x7 anywhere access to their organized medical information across various stakeholders including diagnostic centers, doctors, hospitals, etc. This is also in alignment with the recent announcement of the government’s National Digital Health Mission.
The other investors in the funding round include Ajeet Singh Kushwaha (Founder, Seekify), Ankur Pahwa (Partner, EY), Anurag Mehrotra (President & MD, Ford India), Bharanidharan Viswanathan & Nitin Mathur (Founders of 91mobiles), Harsh Pokharna and Gaurav Kumar (Co-Founders, Okcredit), Kishore Ganji;, Kunal Khatter (Managing Director, AdvantEdge in personal capacity), Sprout Investments, Umang Kumar (Founder, Gaadi.com), and Vivek Shah (MD, Investment Banking, Haitong).
The diagnostic sector in India is poised for good growth in the years ahead with estimatespegging the market size at $15 billion in 2020. Despite the 90% hit on the diagnosticvolumes in the immediate aftermath of the nationwide lockdown, ConnectedH’s businesscrossed pre-lock down levels by July 2020.
‘At a time when India’s healthcare system is already overburdened, ConnectedH has come up with a solution that can become a gamechanger in the area of digitizing health records. Single-point access to all healthcare data will not only enable diagnostic centers to become more organized but also improve health outcomes. We hope to see ConnectedH expanding the scope of their coverage with this funding.” Said Kushal Bhagia from First Cheque
Rohit M A, Co-founder and Managing Director of Cloudnine Group of Hospitals investedthrough his investment arm Capier Investments, commented, “Suresh, Shubham, and Rahul haveset out to solve a very pertinent issue in our country’s healthcare wherein unorganizedprimary medical data has been a major issue for years. They have identified an approachwhich can be easily scaled to touch the lives of millions of consumers across the value chainand in a short time, have already demonstrated the ability to organize diagnostic records ofover 10% of Delhi population while creating genuine value and engagement for theirdiagnostic partners.”
Adding further, Archana Priyadarshini Point One Capital, said, “We are very happy tosupport a health-tech startup like ConnectedH, which aims to solve a pertinent problemfacing the healthcare sector today. Incorrect and unorganized information is a major causeof misdiagnosis in a majority of health cases. By offering a tech-based solution for collatingall this healthcare data at one point, ConnectedH will enable improve health outcomes forpatients while also increasing ROI for diagnostic centers.”
Before this funding, ConnectedH raised its first smaller seed round from the topmanagement of CarDekho including Avinash Kumar (Founder, Credenc).