Jaipur-based Corner Store Technologies Pvt Ltd, which runs healthcare startup LifCare announced that it has raised USD 1 million in a round led by angel investor Rajul Garg.
Other investors who participated in this round are Kunal Shah, chief executive officer of Freecharge, Dheeraj Jain, partner at Redcliffe Capital, a UK-based hedge fund, Alok Mittal former managing director of venture capital firm Cannan Partners, Mohan Lakhamraju, former managing director of venture capital firm Tiger Global and Rishi Mandawat, principal at private equity firm Bain Capital.
The startup will use the fund to expand to new cities, set up dedicated warehouses for storage of medicines target a growing number of potential consumers, technology enhancement and team expansion.
LifCare, which provide a onetime subscription of pharmacy has 45 employees, was was launched in September 2015 by Krishna Killa, a former associate at Bain Capital, Rohit Mohla, a former executive of pharma company Cipla and Deepesh Rajpal, a former executive of Wipro Ltd.
According to the startup, the patients register with it with their medicine list and prescriptions, after which the pharmacists manage everything from refills to ensuring adherence ratios and educating patients on how to better manage their chronic diseases.
Rajul Garg who is leading investor in this round of funding of Lifcare has invested in a handful of other healthcare start-ups, including Healthkart, Qikwell and HealthAssure.
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