New Delhi-based Indicare Health Services Pvt. Ltd, which runs home care and wellness services provider, MyCareLine, has raised close to Rs 3.5 crore from two female high-net-worth individuals (HNIs) based out of Singapore and India. One of them, a startup specialist, has invested more than $500,000 in the firm for a minority stake. The company is looking at raising around Rs 30-35 crore in the next round.
Founded in November 2014 by Anuradha Khairnar, MyCareLine develops technology-enabled solutions to deliver affordable patient care. Its Staff include experienced Nurses, Physiotherapists, Bedside Assistants, Dieticians, Clinical Psychologists, Maternity & Babycare professionals spread across 12 cities in India.
Going forward, the startup plans to set up six centres, of which one will be owned by the firm while the remaining will be operated by franchisees. It aims to scale this up to 35 centres by the third year and to 130 centres by the fifth year. Additionally, MyCareLine will be tying up with large residential complexes and townships to run wellness centres in their owned premises.
Recently, the startup has made a strategic alliance with with Hoffmann World, founded and led by Catalina Hoffmann, who is also a woman. This alliance will establish and implement the hoffmann method in age-specific wellness centers across India. In these centers, patients can receive specially tailored care suited to their needs from a wide range of medical professionals. Their team includes doctors, physiotherapists, dieticians, psychologists, occupational therapists and more, to ensure a holistic and well balanced service that addresses cross-disciplinary needs.
Recent deals in this space include Portea Medical, which is operated by Health Vista India Pvt. Ltd, and Medwell Ventures Pvt. Ltd. In September 2015, Portea Medical had raised $37.5 million in a Series B round of funding led by existing investor Accel Partners. In June last year, Medwell Ventures had raised $10 million in its Series A round investment from Fidelity Growth Partners India and Fidelity Biosciences.