Healthtech Startups DocsApp, MediBuddy Merge; Raise ~ ₹ 150 Cr in Funding

Health-tech startup DocsApp and digital consumer healthcare provider MediBuddy on Thursday announced their merger to create a comprehensive digital healthcare platform named 'MediBuddy DocsApp'.

The merged entity has raised USD 20 million (around Rs 150 crore) in Series B round of funding led by Bessemer Venture Partners, Fusian Capital, Mitsui Sumitomo (MSIVC) & Beyond Next ventures, MediBuddy DocsApp said in a statement.

Existing investors including Milliways Ventures and Rebright Partners also participated in this round, it added. 

"This combined entity will offer a comprehensive platform to our customers that delivers on the promise of a digital healthcare future. As first-movers, we are confident that we will establish market leadership and fulfil our mission to provide quality healthcare to every Indian,"  MediBuddy DocsApp CEO Satish Kannan said. 

The platforms will continue to focus on enabling healthcare services like online specialist doctor consultations, lab tests, preventive health checks, delivery of medicines etc to customers across India, the statement said.

The joint entity will utilize the funding in further strengthening its doctor base, patient reach, product and technology to move a step closer to its mission of providing high-quality healthcare to a billion people, it added. 

"As a result of its targeted solutions and exceptional metrics, DocsApp has achieved a leadership position. We are pleased to be a part of this growth journey and believe that the merger with MediBuddy is the boost it requires to provide quality healthcare to all," Bessemer Venture Partners MD Vishal Gupta said. 

The combined entity is servicing the healthcare needs of over 3 crore Indians, with a partner network of over 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres and 2,500 pharmacies across the country, the statement said.

DocsApp Raises $1.2M From Facebook’s Early Investors and Rebright Partners

DocsApp, a leader in the Online Doctor Consultation space has now announced a seed investment of $1.2 million in funding by Facebook’s Angel Investors Anand Rajaraman - Venky Harinarayan and Japanese Venture Capital firm Rebright Partners.

Founded in 2015 by IIT Madras Alumni, DocsApp is the leading mobile medical consultation platform in the country which provides quality consultation for patients with fastest turnaround time of 30mins. DocsApp has been designed to give the best experience to patients with complete privacy. Patients can chat with the doctor and also share pictures and reports of the ailment with the doctors privately. DocsApp aims to utilize the funding to develop and expand their scale of operations, recruit talent and continue breaking barriers through technology in the medical space thereby excelling at user experience.

In India, currently around 4 billion transactions happen in the healthcare sector every year. The entire healthcare market in India is worth around $80 billion; however the online market is estimated to grow to around $42 billion in the coming years. . Within a year, majority of DocsApp users have come from major cities like Bangalore, Delhi-NCR, Mumbai, Chennai & Hyderabad. With over 80,000 users, more than 15,000 patients take consultation using DocsApp every month. DocsApp has a pool of 500 top notch doctors in the country who are available to connect with the patients for consultations.

Speaking about the $1.2 Million investment in DocsApp, Facebook’s early investors Anand Rajaraman & Venky Harinarayan said, “The DocsApp team has created an amazing app that combines whiz bang technology with specialist doctors to enable speedy doctor consultations and great patient outcomes. This app will revolutionize primary healthcare in India!”

The investment round was led by Rebright Partners and Takeshi Ebihara, Founding General Partner of Rebright Partners said, “The team has a great understanding of the healthcare space and it is a scalable business model that can service millions of patients across India and South-East Asia.”

Founded by IIT Madras Alumni Satish Kannan & Enbasekar Dinadayalane at the IIT Madras Research Park, in 2015, DocsApp, a Bangalore based health-tech start-up has grown to a team of 36 members from leading colleges such as IIT, BITS and CMC Vellore. The app currently supports 9 specialities: Gynaecology, Psychiatry, Dermatology, Paediatrics, Weight Management, Sexology, Gastroenterology, General Medicine and Hair & Scalp care.

DocsApp Raises $1.2M From Facebook’s Early Investors and Rebright Partners

DocsApp, a leader in the Online Doctor Consultation space has now announced a seed investment of $1.2 million in funding by Facebook’s Angel Investors Anand Rajaraman - Venky Harinarayan and Japanese Venture Capital firm Rebright Partners.

Founded in 2015 by IIT Madras Alumni, DocsApp is the leading mobile medical consultation platform in the country which provides quality consultation for patients with fastest turnaround time of 30mins. DocsApp has been designed to give the best experience to patients with complete privacy. Patients can chat with the doctor and also share pictures and reports of the ailment with the doctors privately. DocsApp aims to utilize the funding to develop and expand their scale of operations, recruit talent and continue breaking barriers through technology in the medical space thereby excelling at user experience.

In India, currently around 4 billion transactions happen in the healthcare sector every year. The entire healthcare market in India is worth around $80 billion; however the online market is estimated to grow to around $42 billion in the coming years. . Within a year, majority of DocsApp users have come from major cities like Bangalore, Delhi-NCR, Mumbai, Chennai & Hyderabad. With over 80,000 users, more than 15,000 patients take consultation using DocsApp every month. DocsApp has a pool of 500 top notch doctors in the country who are available to connect with the patients for consultations.

Speaking about the $1.2 Million investment in DocsApp, Facebook’s early investors Anand Rajaraman & Venky Harinarayan said, “The DocsApp team has created an amazing app that combines whiz bang technology with specialist doctors to enable speedy doctor consultations and great patient outcomes. This app will revolutionize primary healthcare in India!”

The investment round was led by Rebright Partners and Takeshi Ebihara, Founding General Partner of Rebright Partners said, “The team has a great understanding of the healthcare space and it is a scalable business model that can service millions of patients across India and South-East Asia.”

Founded by IIT Madras Alumni Satish Kannan & Enbasekar Dinadayalane at the IIT Madras Research Park, in 2015, DocsApp, a Bangalore based health-tech start-up has grown to a team of 36 members from leading colleges such as IIT, BITS and CMC Vellore. The app currently supports 9 specialities: Gynaecology, Psychiatry, Dermatology, Paediatrics, Weight Management, Sexology, Gastroenterology, General Medicine and Hair & Scalp care.