MFine Raises $16m From New & Existing Investors Led by Heritas Capital as Adoption of Digital Health Soars in India Amidst COVID-19 Pandemic

SINGAPORE and BENGALURU, India, Jan. 18, 2021 /PRNewswire/ -- India's leading Digital Health startup MFine has raised $16m in a new funding round led by Heritas Capital with participation from Singapore-based family office of Y'S Investment Pte Ltd. Existing MFine investors including SBI Investment, SBI Ven Capital, BEENEXT and Alteria Capital have also followed-on in the round. The oversubscribed round wraps up a strong year for MFine with the company achieving 10x growth amidst exponential adoption of telemedicine and digital health in India in 2020. 

The COVID-19 pandemic, subsequent lockdown measures and the release of Telemedicine Guidelines by Government of India have led to the widespread adoption of telemedicine in India. A new standard for digital health services including health IDs, personal health records, Digi Doctor and a health facility registry has also been announced in August 2020 under the National Digital Health Mission (NDHM) to support universal health coverage for India's citizens.

With over 4,000 doctors including some of India's top doctors from 600 reputed hospitals covering 35 specialties on the platform, MFine provides users with on-demand access to quality medical care even as COVID-19 hindered delivery of routine healthcare to chronic patients from remote locations. Since COVID-19, more than one million users have utilized MFine's platform to teleconsult with doctors on chronic conditions such as diabetes and arthritis and acute illnesses including viral infections, and for varying services including diagnostics, health checks, radiology and e-pharmacy.

"The year 2020 has been very significant for us. During the pandemic, with the introduction of strict lockdowns and social distancing measures, we found ourselves in a unique position to help millions of people with access to essential healthcare services. We are seeing incredible traction on the provider and consumer side. Our vision of digital health as a solution to scale quality healthcare delivery has been accelerated by 2 years. The entire ecosystem is now on an accelerated transformation with the Indian government also introducing the National Health Stack. India is on the cusp of redefining healthcare delivery and we are actively engaged in shaping and leveraging this big shift," said Prasad Kompalli, Co-founder & CEO of MFine.

In 2020 MFine expanded its geographical coverage beyond physical boundaries of the cities to serve people from over 1,000 towns in India and launched several new services such as AI-based self-assessment of various health conditions, long term care programs for chronic conditions and membership to offer benefits on all the services for its direct consumers and also corporates.

"MFine has developed a compelling solution that has proven to be highly impactful during this pandemic to ensure continued and trusted access to quality and affordable healthcare services. We believe that MFine's collaborative partnership model with hospitals and doctors powered by the application of AI will enable smart optimization of limited healthcare resources to address unmet needs throughout India and beyond," said Chik Wai Chiew, CEO & Executive Director of Heritas Capital.

"This is a great example of how mobile connectivity and advances in technology can aid in providing primary health care to millions of people. We see huge potential MFine's state-of-the-art AI and mobile technology platform and its ability to scale beyond India as COVID-19 has accelerated the use of telemedicine and digital health in India and other regions in SEA," Yoshitaka Kitao, Representative Director & Chairman of SBI Investment.

"MFine has pioneered the access to top-class, trusted medical care in India. Despite 2020 being a difficult operating year, the MFine team has demonstrated its strong execution capability to add new capability, launch new offerings, accelerate traction while achieving strong economics. We are excited to continue backing the MFine team to create a large, world class healthcare company with deep positive impact," said Teruhide Sato, Founder & Managing Partner of BEENEXT.

The COVID-19 pandemic has supercharged global funding activity in digital health in 2020. In 2020, telemedicine was the top-funded category and led VC funding activity with $4.3 billion, a 139 % YoY increase compared to $1.8 billion in 2019. Global venture capital funding in digital health came to $14.8 billion, a 66% increase compared to $8.9 billion in 2019, according to Mercom Capital's annual report on funding and mergers and acquisitions (M&A) activity for the digital health sector for 2020.

With this fresh funding, MFine plans to reinforce its leading position in delivering an AI-driven, on-demand healthcare service across India, and aims to be one of the largest virtual hospitals in the world with services across primary care, secondary care and chronic care management in collaboration with its trusted partners. MFine will deploy the funds towards tripling its investments in AI, mobile engineering and device integration; expanding its hospital network across the country; scaling the recently launched services which include delivering medicines, preventive health screenings and diagnostic tests. The company will also initiate Series C fund raising in the coming months.

About MFine

MFine is an AI-driven, on-demand healthcare platform that provides its users access to virtual consultations and connected care programmes from the country's top hospitals. The app-based mhealth platform partners with leading and trusted hospitals instead of aggregating individual doctors. MFine users can consult doctors from their preferred hospitals via chat or video to get prescriptions and/or routine care. Users can also book routine lab tests, medicine delivery and access comprehensive health packages. MFine was founded in December 2017 by Ashutosh Lawania and Prasad Kompalli who were later joined by Ajit Narayanan and Arjun Choudhary. For more details, please visit: https://www.mfine.co/.

About Heritas Capital

Heritas Capital is a Singapore-based private equity and venture capital investment firm that invests in fast-growing companies across the healthcare, education and technology sectors. Guided by our investment philosophy, "Invest with Purpose, Impact Across Generations", Heritas Capital backs innovative companies to become emerging champions and drive inclusive growth that improves the lives of local communities while delivering sustainable returns to investors.  

Health Tech Startup ConnectedH Raises Seed Funding from First Cheque, Rohit MA, PointOne Capital and Other Investors

The funding will be used to expand the brand’s presence pan India and widening their offerings 

ConnectedH, a health-tech company committed to unlocking the full potential of diagnostics, has raised an undisclosed seed amount in funding from venture capital First Cheque, Rohit MA (Founder, Cloudnine Hospitals), PointOne Capital, and other investors.

The funding will be used to expand the brand’s geographical presence and integrate it deeper into the diagnostics ecosystem. It will also be used to widen their value offerings for diagnostic centers thereby making them a one-stop solution for all their marketing and operations needs.

Unorganized medical data is one of the major issues in healthcare delivery and also responsible for the wrong diagnosis in many cases. Since its inception in 2018, ConnectedH has been on a mission to simplify healthcare by organizing healthcare data. The brand is working 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, E&Y); 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).

Speaking about this, Shubham Gupta, Co-Founder, ConnectedH, said, “ConnectedH was the outcome of a personal experience. I was hospitalized due to a UTI and had to visit doctors every week for almost two years after, waiting for hours at the reception for just 5 minutes of facetime. It was an endless cycle of repeating my medical history with no one having the time to go through it either. While I could solve the issue by collating my data with excel, I realized how others would be undergoing the same issue”.


Adding to this, Suresh Singh, Co-Founder, ConnectedH said, “Shubham’s experience exposed us to the horrors of unorganized healthcare data and brought back similar memories in my family. While the solution was very apparent, the starting point wasn’t so. We had to figure out the right value proposition for various stakeholders. After shadowing multiple doctors, diagnostic center owners, and hospital owners for more than 6 months to identify their pain points and possible solutions, we finally zeroed down on the diagnostics space. Our digital ecosystem offerings enable the creation of an organized diagnostic history of patients, while helping diagnostic centers exceed customer expectations, and increase their business, improve operations, and deliver better margins."

Adding further, Kushal Bhagia, First Cheque, said, "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."

Rohit M A, Co-founder and Managing Director of Cloudnine Group of Hospitals invested through his investment arm Capier Investments, said, “Suresh, Shubham, and Rahul have set out to solve a very pertinent issue in our country's healthcare wherein unorganized primary medical data has been a major issue for years. They have identified an approach which can be easily scaled to touch the lives of millions of consumers across the value chain and in a short time, have already demonstrated the ability to organize diagnostic records of over 10% of Delhi population while creating genuine value and engagement for their diagnostic partners."

The diagnostic sector in India is poised for good growth in the years ahead with estimates pegging the market size at $15 billion in 2020. Despite the 90% hit on the diagnostic volumes in the immediate aftermath of the nationwide lockdown, ConnectedH’s business crossed pre-lock down levels by July 2020. 

Adding further, Archana Priyadarshini Point One Capital, said, “We are very happy to support a health-tech startup like ConnectedH, which aims to solve a pertinent problem facing the healthcare sector today. Incorrect and unorganized information is a major cause of misdiagnosis in a majority of health cases. By offering a tech-based solution for collating all this healthcare data at one point, ConnectedH will enable improve health outcomes for patients while also increasing ROI for diagnostic centers."

Before this funding, ConnectedH raised its first smaller seed round from the top management of CarDekho including Avinash Kumar (Founder, Credenc).


About ConnectedH

Seeking medical help, in most cases, is not the best time in someone's life. ConnectedH strives to make such interactions as simple or as hassle-free as possible. The company’s vision is simple - Connected Healthcare. The founders of ConnectedH come with extensive prior startup experience. Shubham Gupta, an IIT-K graduate, was designing steam turbines in nuclear power plants in Japan when he found his calling for startups. Before ConnectedH, Shubham was a part of the CEO's team at CarDekho. Suresh Singh is an IIM-B graduate & OPJEMS scholar who joined CEO’s team at CarDekho with aspirations of founding his own startup. He built CarDekho’s B2B offerings for Car & Bike OEMs across India, South East Asia. Rahul Kumar, is an IIT-K graduate and a two-time entrepreneur. His previous startup attempts were in sports entertainment called 'Kickoff Nation’, which he followed up with an dea to productize bitcoin mining. With this background, ConnectedH is bringing together different sectors of the healthcare system, giving the patients complete control over their information.

Nutrition-Tech Startup Habbit Health Raises Pre-Seed Funding from 3one4 Capital, AngelList India

Habbit Health and Nutrition Pvt Ltd, announced today that it has raised an undisclosed amount as a pre-seed investment from top global investors. VC firm 3one4 Capital and Utsav Somani of AngelList India led the round. Singapore based RB Investments, early stage investors Better Capital and First Cheque and multiple other well-known angel investors from around the world participated via AngelList. With rising per capita incomes, preventive healthcare market in India is expected to be over US$100 billion in 2022. The spend on nutrition, healthy foods, functional foods and supplements is expected to quadruple to over US$ 50 billion in the next decade, growing at 17% CAGR. Rapidly rising awareness about the importance of good nutrition is accelerating this trend in the top 10% of the population which accounts for over 40% of Indian consumption. 

Explaining his rationale behind the investment, Utsav Somani, Partner at AngelList India, said, “Health and wellness is the growth sector of the future. The Covid Pandemic has made everyone realize that good nutrition is a must have and not just for those who work-out. We are seeing lots of products and brands create clutter, without any differentiation. However, the products, brand positioning and customer love demonstrated by the Habbit team are a standout. We are happy to back them early in their mission to create a global leader in health and nutrition.” 

On their decision to invest, Anurag Ramdasan, Principal at 3one4 Capital, said, “The combination of deep product IP, unique brand experience in a large growing market and the extensive use of technology throughout the value chain, makes Habbit different from a regular niche D2C brand. The team with their stellar credentials is a prime contender to scale rapidly, raise the bar and deliver audacious results. Something that we at 3one4 capital live by.” 

Mr. Dhruv Bhushan, CEO, Habbit Health

Sharing the organizational vision, Dhruv Bhushan, Co-Founder & CEO, said, “Lifestyle diseases with their origin in poor nutrition are today’s biggest health concern. Still, there has been little innovation in the consumption category, making it irrelevant for an increasingly health aware audience. Habbit uses modern science and technologies to disrupt these with healthier alternatives, without needing to change user behaviour and still maintaining the same taste. Our IP and technology make us best suited to scale rapidly and capture a slice of this over US$100 billion opportunity. We are proud to have forward-thinking investors around the world supporting our long-term vision and ambitions, even before our launch.” 

 Added, Dev Kabir Malik, Co-Founder & Chief Brand Officer, “Most conversations around health are exercise and goal oriented. Brands are currently very product centric and positioned to target those who are highly involved in fitness. They are thus never able to create large scale impact. We believe that health is a lifestyle and that nutrition is the first step in the health journey, for everyone. Consistency is key, as the benefits of small steps compound over time. Health really is a Habbit” 

About Habbit: 

Founded by serial entrepreneur/angel investor Dhruv Bhushan and leading brand consultant Dev Kabir Malik, Habbit is a global nutrition-tech company that applies modern science to help consumers be healthier through a range of proprietary foods & digital ecosystem.

Based on path breaking global research, Habbit products are formulated using only modern natural ingredients, and make everyday nutrition simple, enjoyable and rewarding. Through alternate natural sources of proteins, fats and sugars, Habbit is making every consumable item as healthy as possible, without compromising on the taste. It will be launching in a phased manner, a wide portfolio of personalised products - from natural proteins for everyday use, to indulgent snacks, refreshing beverages and delightful ice creams. These products have already been tried and endorsed by thousands of top lifestyle, nutrition, health and fitness experts.

A tech-led gamified health journey aims to make the digital Habbit experience the easiest for consumers to be healthy. By promoting health as a lifestyle and not a goal-oriented activity, it allows a vast majority of the population to be healthy, and does not cater only to the fitness enthusiasts. In doing so, Habbit aims to build an innovative global FMCG company for the future which leverages technology to deliver the pinnacle of customer experience.  

To Monitor Effect of Yogic Techniques on COVID-19, Health-Tech Firm Dozee Collaborates with CCRYN, Ministry of Ayush

• The Central Council for Research in Yoga & Naturopathy (CCRYN) wing of Ministry of Ayush
• Over 40 devices are planned to be setup across Rajiv Gandhi Multispeciality Hospital, AIIMS Rishikesh,AIIMS  Delhi and PGI Chandigarh

Dozee has collaborated with the research arm i.e. CCRYN of Ministry of Ayush (i.e. Ministry of Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy) to provide contactless health monitors across hospitals such as Rajiv Gandhi Hospital, AIIMS Rishikesh, AIIMS Delhi and PGI Chandigarh for their research study on using Yoga interventions in management of covid 19 patients.

In current times of pandemic when the world is looking for solutions to improve immunity, the Ministry of Ayush is combining the power of breathing techniques, herbs and meditation to help beat the virus. CCRYN will use these devices to monitor how Covid-19 patients’ health is improving from different yogic techniques in these hospitals located in Delhi, Chandigarh and Rishikesh. 

Dozee helps in providing data on various parameters such as respiration, Oxygen saturation,  heart rate, sleep and stress-recovery through heart rate variability monitoring. It is the only contactless health monitor that tracks health parameters and provides it remotely to doctors and experts. The aim of the activity is to have patients practise different breathing techniques along with following a special diet aimed at boosting immunity. The CCRYN will appoint Yoga teachers at each hospital to provide live sessions as well as providing sessions through Dozee’s mobile app. The healthcare startup, Dozee will help CCRYN in monitoring how the health of  mildly positive symptomatic and asymptomatic patients is improving with such techniques. 

As our medical system is working relentlessly to find a solution to this sudden outbreak, Dozee aims to ease their burden and risk by providing a non-intrusive solution to monitoring vital signs. These natural solutions can help provide a dependable way to improve the health of these patients. One can monitor the stress levels of patients before practice and guage how much relaxation they have achieved after each yoga session. It will also help us understand which kind of practices are useful.  

Mr Mudit Dandwate, Co-Founder, Dozee, quotes, “We are honoured to be associated with the research council  (CCRYN) of the Ministry of Ayush to contribute towards fighting this battle with the pandemic. We hope that we can empower our medical fraternity while they work tirelessly. This contactless device will share continuous quantitative data with doctors and flag any health deterioration of patients. We hope to be catalysts in fighting the battle with Covid19. We are humbled to be identified by CCRYN from the Ministry of Ayush and are eager to work alongside their healthcare initiatives.” 

Dr Raghvendra Rao, Director of Central Council for Research in Yoga & Naturopathy (CCYRN), Ministry of Ayush, states, “ We are thrilled that startups like Dozee can help out to combat the pandemic. While the medical community is strained with the increasing numbers, the data provided by Dozee on a real time basis will aid remote health monitoring by doctors and reduce their burden. It will also create a step down ICU for the hospitals battling shortage of beds. We hope to work in unison with Dozee for other hospitals too in the future integrating our yoga solutions along with real time monitoring.” 

Launched in mid-2019, Dozee is available on both Amazon.in & its website. Dozee has also been backed by reputed companies like Qualcomm and Department of Biotechnology – Govt of India–BIRAC and Bill & Melinda Gates Foundation for product development and acceleration. This Bengaluru based healthcare startup is the brainchild of Mr. Mudit Dandwate and Mr. Gaurav Parchani, both IIT alumni. 

About Dozee: Dozee, a part of the Turtle Shell Technologies Pvt Ltd is a company registered in India in 2015 based out of Bengaluru – Karnataka.  The company was founded by Mudit Dandawate from IIT Mumbai and Gaurav Parchani from IIT Indore. TST is one of the most promising and looked upon Indian health- tech companies which is the first one to launch a contactless health companion under the brand Dozee in India. Dozee uses Ballistocardiography as the underlying technology where a thin sensor sheet is placed below the mattress (any mattress up to 18 inches) of the user to capture the data on micro-vibrations in the human body. This data of micro-vibration is further analyzed using advanced machine learning and artificial intelligence algorithms to create health data about the user.  Dozee is used for proactive health monitoring of health for preventive health care, stress management, sleep improvement, and athlete performance management. TST also provided its technology for smart mattresses. Dozee was awarded Best Healthcare Startup at Bioasia 2019 and Best Tech Innovation at Assocham 2019. They have developed their technology in close collaboration with NIMHANS, Jayadeva Institute of Cardiac Sciences.  

Actor Suniel Shetty Invests in Kochi-based Healthtech Startup Vieroots

• Vieroots, founded by noted Wellness evangelist and bio-hacker Sajeev Nair, is a Kochi-based health-tech start-up.
• Suniel Shetty gives further impetus to the Vieroots brand.
• Vieroots is a pioneer in Personalized Lifestyle Management using Epigenetics with a focus on peak performance and healthy aging.

Bollywood stalwart Suniel Shetty has invested an undisclosed amount in Vieroots Wellness Solutions Pvt Ltd (VWS). Registered in 2018, Vieroots is estimated to be valued at around 100 Crores.

Vieroots, founded by noted Wellness evangelist and bio-hacker Sajeev Nair, is a Kochi-based health-tech start-up and pioneer in Personalized Lifestyle Management using Epigenetic science. Vieroots also provides world-class research-based products and services for people who aspire to live healthy and productive lives, with specific focus on productive aging.

 

Vieroots' association with celebrity investor Suniel Shetty who's well known for his passion in the areas of fitness and wellness was fascinated by the pioneering concept authored by Mr. Sajeev Nair, called Epigenetic Lifestyle Modification, gives further impetus to the brand. Suniel Shetty said, “I could relate to the company‘s core values and innovative thought process in the wellness category hence the decision to invest.“

Epigenetic lifestyle modification is a three-step method which includes V genome test, Vieroots App -EPILIMO and a detailed personalized lifestyle modification plan. Through this process one will get every possible information on all disease which may have inherited from their ancestors. This valuable and authentic information will help a person to modify his lifestyle to avert the possible dangers on his health. VIEGENOME test is the most comprehensive genetic predisposition test available in the world which analyses more than 200 different health parameters. The Epigenetic Lifestyle Modification mobile App, ‘EPLIMO’, is a user-friendly next-generation health & wellness ecosystem converging genetics with AI and robotics and provides a Geno-Metabolic report. Vieroots’ medical and genetic experts create a highly personalized wellness management plan for users based on their genetics and metabolism. The whole process can enhance overall quality of life and support to live long and stay young, physically and mentally.

Suniel Shetty is widely regarded as a smart investor. This investment is the latest one in a series of investments that include FTC – India’s first online talent and casting platform, the fitness app – FITTR which raised USD 2 million from Sequoia Capital in pre-series A Funding in April 2020, Sai Estate Management & Skills Institute’s (SEMSI) curated online platform offering online courses and certifications in real estate, sales and marketing. Previously, Suniel’s Beardo, a range of Men’s grooming products, had raised USD 0.5 million from Venture Catalyst and followed by approximately USD 8-10 million from Marico Ltd.

Booming Wellness Sector

The wellness sector has been booming since 2018 as alternative therapies and measures are being deduced to shield Indians from mass sickness hazards.

As per a recent study by Stanford Research Institute International, the global wellness industry represents a market of nearly US$ 2 trillion as opposed to the Indian Wellness Industry, which is a US$ 9.8 billion market; accounting therefore, 2% of the global wellness industry. Securing a sustainable future and boosting health, the Indian wellness industry is looking to reach new heights of success.

Speaking about the stake sale, Sajeev Nair, Chairman & Chief Mentor, Vieroots, said, “We are thrilled to welcome Mr. Suniel Shetty on board to drive the Live Long and Grow Young Movement which is a critical juncture for the Wellness industry. We feel that the market has huge prospects to get bigger amidst the looming health uncertainties. Co-morbidity causing lifestyle diseases and pandemics tell us to place more emphasis on disease prevention, and enhance the community’s herd immunity.”

Speaking about the partnership, Suniel Shetty said, “Vieroots sees a world where people live long, healthy, fulfilling lives by taking charge of their own bodies and minds. They offer a happy synergy between modern sciences; technology and age-old wellness concepts thereby bring forth innovations long awaited in the wellness industry. Their key brand element is the continuum which depicts the regeneration and regression of life. I am positive that my association with the brand will boost its prospects."

Nearbuy Founder Sumeet Kapur launches next venture; Secures seed Funding from Inflection Point Ventures

• Nearbuy Founder Sumeet Kapur launches Wellcure
• Raises $200,000 from IPV
• Funds to be used for marketing, tech development, team expansion to scale up
• Wellcure promotes naturopathy for overcoming lifestyle related ailments
• Aims to transform the health map of India through application of nature's laws and make natural health lifestyle an everyday experience
• Wellcure has a user base of close to a lakh in beta stage
• Wellcure marks 10th investment from IPV since Mar 2020

Nearbuy.com founder Sumeet Kapur announces his next venture - Wellcure. Wellcure, a health tech platform aiming to democratize natural healing, has raised $200,000 from Inflection Point Ventures (IPV). The company founded by Sumeet Kapur, Ankur Bhatia and Aanchal Kapur aims to revolutionize the future of healthtech in India. Wellcure is based on the premise that health is simple, the human body has holistic healing capacity and we just need to facilitate this natural process.

Wellcure, one of India’s fastest growing natural health communities, caters to all health and wellness needs - physical and mental, with an existing user base of close to a lakh, it aspires to reach 1 million people by the next year. With its ability to specifically cater to the needs of the customers by offering curated content along with the practical feasibility of offering recipes, e-books, online guided programs, live events etc, WellCure has been able to position itself as a market leader in the growing industry of health-tech.

Sumeet Kapur, CEO & Co-Founder, WellCure, says, “With this influx, we aim to scale our operations substantially to reach INR 5 Crore of sales in FY21 whilst doubling our subscribers base. We have been working closely with Vinay Bansal, Founder and CEO of IPV, and look forward to growing Wellcure with this association.”

Nature cure believes that lifestyle diseases, chronic illnesses, and seasonal infections are signs of acid-alkaline imbalance, increased toxins and lack of repair in the body. These causes can be removed using natural foods, nature’s elements and optimum physical activity. Highlighting the perception about diseases and the body's functioning.

Vinay Bansal, Co-founder, Inflection Point Venture- “We believe the integration between nature and technology is Wellcure’s biggest selling point, presenting its users with the most appropriate solutions. WellCure’s business vision is in line with this macro trend in the health tech sector that we have seen unfolding in India in the past few years. This prompted us to back WellCure as we believe that it could redefine the way people look at health & wellness.”

Wellcure marks 10th investment from IPV’s platform since Mar 2020.

After the global health crisis, health & wellness has gained center-stage. Boosting immunity, maintaining a healthy body, eating right, and keeping a positive mental outlook now have immense relevance in people’s lives. Nature cure provides a credible solution to this existential crisis.

About WellCure

Wellcure, a Gurgaon-based health tech startup, founded by Sumeet Kapur, Ankur Bhatia and Aanchal Kapur, is swiftly becoming India’s fastest growing natural health community which acts as a natural healing-oriented platform to maintain a healthy & balanced lifestyle.

It operates as an online platform that brings together nature-cure enthusiasts across the globe to help share, interact, learn, heal, and inspire each other. With a team of natural health experts, it provides comprehensive knowledge, e-learning courses, e-books, self-cure tools, guided programs, access to leading nature cure professionals, and organizes events to promote and to make natural healing easily accessible to all. It essentially acts as a one-stop facility to all-natural health, lifestyle & wellness needs.

About Inflection Point Ventures

Inflection Point Ventures is India’s largest and one of the most active angel platforms in India today. Founded in 2018 by a group of accomplished CXOs who come with rich experience in the start-up ecosystem, either as co-founders themselves or by leading their organizations through various stages of funding. Their expertise lies not only in financial aspects such as private equity and venture capital but also in business strategy, expansion, and risk mitigation. IPV aims to go beyond just providing funding to startups by offering them access to customers, guidance and mentorship.

Gautam Gambhir Backed Health-Tech Firm FYI Health unveils All-in-one Solution to Help Workplaces Unlock

Backed by former cricketer and current member of the Lok Sabha, Gautam Gambhir, FYI Health, a community health technologies venture, today announced the launch of its 'Made in India' FYI Health Post. Earlier, the company had announced the launch of its FYI Health App that allows enterprises of all sizes to create a safe environment for their workforce by enabling a daily health check-in for employees and guests visiting the corporate eco-system with secure contact tracing.

FYI Health Post is a pioneering effort by FYI Health and a first of its kind 'Made in India' product. As the name suggests, it is designed as a 6 feet sleek Post (tower) to offer enterprises, hotels, factories, banks, and hospitals, an all in one solution for authentication and identification of each person entering the premises, mask detection, temperature scanning and contactless sanitization. Integrating all information flow through a centralised web dashboard, FYI Health Post offers locations a powerful solution to take preventive measures against the spread of COVID-19.

FYI Health Post helps workplaces comply with the National Directives for COVID-19 management and will enable them to open for business with confidence. The directive states that all workplaces must make adequate arrangements for temperature screening, sanitisation at entry and exit points as well as make the wearing of masks compulsory.

FYI Health Post offers automatic mask detection with a 7-inch LCD display, touchless temperature scanning, and contactless sanitization with an auto-refill mechanism. It dispenses up to 800 sprays that are motion enabled and a single button operated autofill with auto cut mechanism for efficient usage. Location administrators can choose to identify all persons entering the location through face detection, RFID or QR scanning and this information is made available through a secure health dashboard for swift action in the case of a vulnerable profile.

"The FYI team has been working around the clock for several weeks to build, test and mobilize the FYI Health Post. Businesses need to resume and the need of the hour is solutions that can help them do so by complying with regulations and ensuring that the health of their employees is not compromised," said Gautam Gambhir. "We are in the thick of this fight against COVID-19 and all indicators point to this being long drawn. My personal backing and support to FYI Health comes from my own desire to contribute towards helping fight this crisis in whatever way I can. Testing and tracing, along with precautions such as wearing masks and sanitizing hands are vital in helping contain this pandemic," he added.

"As India starts to re-open, cutting-edge health-tech products and solutions that help contain the spread of the pandemic will play an important role in the recovery of our economy by allowing businesses to open and at the same time help meet the expectations of employees for safety and health standards. With the launch of our FYI Health App earlier and now the Post, we plan to carry that same momentum forward with new health tech products that will help our customers manoeuvre a new normal with the resources they need," said Yash Raj Gupta, Founder & CEO, FYI Health.

FYI Health Post can be ordered online on the company website www.fyihealth.in and is currently retailing at an introductory price of INR 74,900+ taxes.

A recent survey by FYI with employees of India Inc. confirms that the pandemic has raised the expectation that employees have of their employer towards their health. An overwhelming 99% employees said that they would like to see a system of Corporate Health Responsibility (CHR) made mandatory for employers, just like there is in force a system of Corporate Social Responsibility (CSR). Currently with the launch of this solution and in the long term, FYI Health is focused on offering innovative solutions that allows companies to enable Corporate Health Responsibility (CHR) actions.

About FYI
Stark Resilient Pvt. Ltd. owns and operates FYI Health, a health-tech product designed for enterprise use that harnesses the strength of community participation in any corporate location to deliver on real-time health data for administrators, with complete privacy guardrails around user data.

Visit www.fyihealth.in for more information.

Digital Health Shatters Funding Records with $6.3 Billion in H1 2020, Reports Mercom Capital Group

Mercom Capital Group, llc, a global communications and research firm, released its report on funding and mergers and acquisitions (M&A) activity for the Digital Health (Healthcare Information Technology) sector for the second quarter (Q2) and first half (1H) of 2020. Mercom’s comprehensive report covers deals of all sizes from across the globe.

Global VC funding for Digital Health companies in the first half (1H) of 2020 shattered all previous 1H funding records, bringing in $6.3 billion. Funding activity was up by 24% during 1H 2020, compared to $5.1 billion raised in 1H 2019.

However, in Q2 2020, Digital Health companies raised $2.8 billion in 161 deals, a 23% decrease compared to Q1 2020. Year-over-year, funding was down by 11% compared to $3.1 billion in 169 deals in Q2 2019.

Over half of the funding went into just 20 Digital Health companies during Q2 2020.

“Seen as a solution to many of the health challenges resulting from the COVID-19 pandemic, several digital health technologies and services have gone mainstream. Investors have noticed the potential, and Telehealth has been the biggest beneficiary and has received almost $2 billion in the 1H. mHealth apps and data analytics companies have also benefitted. Digital Heath companies had their best fundraising first half ever and have now raised $50 billion venture funding in over 5,000 deals since 2010,” said Raj Prabhu, CEO of Mercom Capital Group.

Digital Health consumer-centric companies accounted for 66% of the funding in Q2 2020, raising $1.8 billion in 105 deals, while practice-centric companies accounted for 34%, raising $947 million in 56 deals.

The top-funded categories in 1H 2020 were: Telemedicine with $1.7 billion, Analytics with $826 million, mHealth Apps with $794 million, and Clinical Decision Support with $545 million.

Telehealth companies received a record of $962 million in 50 deals in Q2 2020 compared to $930 million raised in 35 deals in Q1 2020. Funding increased 42% YoY in Q2 2020 compared to the same period last year.

Other top categories that received funding in Q2 2020 included mHealth Apps with $429 million, Data Analytics with $253 million, Wellness with $172 million, and Medical Imaging with $161 million.

Early round venture capital funding (Seed, Series A) came to $690 million. Most of the VC funding in early rounds in 1H 2020 went to Telemedicine, mHealth Apps, Data Analytics, and Clinical Decision Support companies.

Four hundred and eighty-eight investors participated in funding deals in Q2 2020, compared to 433 investors in Q1 2020. Optum Ventures led Digital Health financing activity during Q2 with six investments. Seedcamp and Y Combinator each made four investments, and another 31 investors made two or more investments during Q2 2020.

A record 921 investors participated in 1H 2020, compared to 821 investors in 1H 2019. This is the largest number of investor participation in 1H since 2010.

The Top VC deals in 1H 2020 included: $285 million raised by ClassPass, $250 million raised by Alto Pharmacy, $194 million raised by Amwell (formerly American Well), $155 million raised by KRY, and $150 million raised by Concerto HealthAI.

Twenty-one different countries recorded Digital Health VC funding deals in Q2 2020. Companies in the United States recorded the most number of VC funding deals with 105.

Fourteen Digital Health products received FDA/CE approvals in Q2 2020 and 224 since Q1 2017.

In 1H 2020, a total of 83 Digital Health M&A transactions were announced compared to 91 in 1H 2019. In Q2 2020, there were 42 M&A transactions compared to 46 M&A transactions in Q2 2019.

mHealth Apps were involved in the most M&A deals in 1H 2020 with ten transactions, followed by Data Analytics and Practice Management Solutions companies with nine each. Telemedicine companies recorded eight transactions, and Wearable Sensors and Wellness companies had five each. Medical Billing companies were involved in four transactions.

Notable M&A transactions in 1H 2020 were: the acquisition of ArcherDX by Invitae for $1.4 billion, Teladoc Health’s acquisition of InTouch Health for $600 million, lululemon athletica’s acquisition of MIRROR for $500 million. AMN Healthcare acquired Stratus Video for $475 million, and CompuGroup Medical acquired Cerner’s assets in Germany and Spain for $248 million.

This report is 100 pages in length, contains 69 charts, graphs, and tables, and covers 731 investors and companies.

Mercom’s comprehensive report covers deals of all sizes across the globe.

To learn more about the report, visit: https://mercomcapital.com/product/1h-q2-2020-digital-health-healthcare-it-funding-ma-report

A Motion-Detecting Fitness App that Pays its Users to Exercise Set to Launch this Month

South Australia's Adelaide -based app development company PixelForce has been working on the project – known as Fitbotic – for the past three years.

According to the company's Managing Director Hinney Lo, Fitbotic used motion detection technology to track the number of repetitions a user performed through body movement recognition, without the need for additional phone accessories.

The platform is currently available in NSW, Queensland, Victoria and Western Australia.

He said it was designed for people new to working out as well as those who lacked motivation – and was unlike most other fitness apps on the market that relied on users to manually input their repetitions. “We want to encourage or help users build up their workout habits because it’s fun and rewarding,” Lo said.

“Hopefully once they have built up this habit, they can move onto a professional workout app, like SWEAT or our other clients.”

Lo founded PixelForce in 2011 with a focus on logos, graphic design and basic website construction. The company took off four years later after developing the first SWEAT mobile app for South Australian fitness guru Kayla Itsines.

PixelForce has since developed a range of apps and websites for brands across industries including wellness, food and wine, and transport. But unlike PixelForce’s other developments, Fitbotic is the company’s first fully-owned and developed initiative.

The app would reward users for working out through Fitbotic credits, which could be used to make purchases through the business’s e-commerce store or cashed out.

“You can’t cash out 10 cents, because there is a transaction fee on every transaction,” Hinney Lo explained.

“We charge on a monthly basis; the app will charge $9.99 per month. If you work out consistently and you meet all your goals, technically you can get all of your money back or you can even make a little bit of money – maybe a few dollars.But if you are not doing great, keeping up and meeting the goals you won’t be able to earn the money back," Lo said.

He said users seeking further motivation would also be able to choose from a range of virtual trainers to count repetitions.

“You can actually select the level of amusement on the voice over. So, if you select 18+ it might swear a little bit, like a hardcore fitness trainer,” Lo said.

“But if you select the moderate mode it would be very encouraging.”

While the app is currently available for Apple and Android devices through the iTunes store and Google Play, the official software won’t be available until its launch in about two weeks.

The project is the latest in a string of developments from the company, which moved into a larger inner-city office earlier this year.

It is also preparing to launch one of its other projects – EzLicense, a platform which connects driving instructors with students looking to learn to drive – in South Australia in the coming months.

“As a learner you go onto the website and put in your suburb and postcode and choose your transmission and automatic or manual and search and it will display all the instructors that are servicing in that area,” Lo said.

“EzLicense is a real-time platform that integrates with the instructors’ calendar. It shows you all the availability in real time so you don’t need an instruction or call back from the instructor, it can be booked in under two minutes.”

Source - The Lead

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.

Health-Tech Platform Remedo Raises Funding Led by River Rock Ventures

• Round led by River Rock Ventures


• Inflection Point Ventures also participated in the round


• Other investors include Angel List, Mohit Satyanand, Mitesh Daga (TPG Capital), Aditya Vij (Kedara capital)


• Funds raised to be used to for adding critical medical practices like Cardiovascular, Neuro and Respiratory


• Remedo has over a lakh patients and 1,000 doctors on its platform


• IPV Continues with its aggressive deal flow stance with 6th investment in 2 months

Remedo, a health-tech startup in the telemedicine vertical has raised Pre-Series A round from River Rock Ventures. Inflection Point Ventures also participated in the round with other investors including Angel List, Mohit Satyanand, Mitesh Daga (TPG Capital) and Aditya Vij (Kedara capital). 

The Company, which runs a telemedicine platform connecting over a lakh patients with doctors present on its platform, will be using the funds raised to expand to other specialities like Cardiovascular, neuro and respirators. 

Remedo, co-founded by Dr. Ruchir Mehra, Harsh Bansal and Richeek Arya in 2017, connects doctors with patients, consisting of customised care plans, including consultation, follow-up visit reminders, tests, medicine reminders and detailed answers to patient FAQs. Remedo’s smart health assistant “Disha” delivers specialized wellness programs to patients as per their medical conditions. 

Dr. Ruchir Mehra, Co-founder Remedo, says, “Remedo is an integrated care provider that uses various touch points between doctors and patients to manage chronic conditions, providing tools to adjust to the new reality of patient doctor moving online. Because of Covid outbreak, patients are unable to meet their doctors in person as it is not advisable to visit hospitals if one is not a Corona affected case. As a result, we have seen a clear acceptance among the stakeholders to take the telemedicine route. Our business has witnessed 17% growth in follow up visits for the doctors on the platform.” 

IPV, one of India’s most active angel platform, has been continuing with its investment strategy though the Covid outbreak has dampened the funding climate in India. Remedo is their 6th investment in 2 months. Shyam Anjaria, a full time management consultant and an investor with IPV, had made his maiden investment in Remedo. 

Shyam Anjaria, Investor, Inflection Point Ventures, says, “Remedo is tapping into a unique and highly scalable B2B Health-tech market in India, which is currently underserved. The innovative business model that Remedo brings the doctors and patients together on a platform is a key differentiator. With this backdrop coupled with IPV’s stage wise due dilligence process, gave Remedo credibility and confidence for me to invest in the startup.”

IPV has invested / committed in over 10 investments since January 2020, especially in sectors like health-tech, online grocery delivery, online education and media & entertainment that are expected to outperform during the current pandemic and in the future as well.

Vinay Bansal, Founder & CEO, Inflection Point Ventures, says, “We are a digital first investment platform and our due diligence process is based on studying hows and whys of startups failing. We are seeing a massive surge in our investor base even with the given macro scenario because investors have found startups as a good asset class creating wealth in the private market. We aim to open up angel investment in India and want to make it as accessible as buying stocks. That’s why more than 200 investors have done their maiden angel investments through IPV.” 

Remedo’s founding team stands strong with background in medical, technology and sales. While Dr. Ruchir Mehra and Harsh V Bansal are alumnus of IIM L, Richeek Arya has been a student of IIIT Hyderabad who left Silicon Valley to start Remedo in India. With a combined experience of over 30 years, this team has digitally tapped the health-tech sector. 

With 1 out of every 4 Indians, suffering from a chronic medical condition, patients need more than a prescription today, and Remedo bridges this gap, enabling the patients to reach out to their doctors as much as 25 times a month, increasing their satisfaction rate to 90%. 

Remedo is an engagement platform that helps doctors better manage patients with chronic diseases and improves patient outcomes by guiding them through their care journey. Remedo is implementing a physical+digital model by providing access to lab tests and medication at the doctor clinics too. 

Inflection Point Ventures is an initiative of accomplished CXOs & Angel Investors who firmly believe that ‘Everyone can Grow with Startups’. Started in 2018, IPV has invested close to Rs 100 crore across 35 startups. IPV’s investors’ base is currently at 1600 seeing a massive influx of highly accomplished CXOs and HNIs who are looking to invest in startups with rational valuation and sustainable business model. 

Digital Health VC Funding Reaches $7.2 Billion in 9 Mths of 2019 - Mercom Capital

Mercom Capital Group, llc, a global communications and research firm, released its report on funding and mergers and acquisitions (M&A) activity for the Digital Health (Healthcare Information Technology) sector for the third quarter (Q3) and first nine months (9M) of 2019. Mercom’s comprehensive report covers deals of all sizes from across the globe.

Global Venture Capital (VC) funding - including venture capital, private equity, and corporate venture capital - for Digital Health companies in 9M 2019 was 10% lower year-over-year (YoY) with $7.2 billion in 474 deals compared to $8 billion in 556 deals in 9M 2018. In Q3 2019, Digital Health companies raised $2 billion in 156 deals compared to $3.1 billion in 173 deals in Q3 2018, a 35% decline.

Digital Health companies have now received ~$42 billion in VC funding in 4,622 deals, according to Mercom.

Total corporate funding (including VC, public market, and debt financing) in 9M 2019 declined 19% with $8.9 billion compared with $11 billion in 9M 2018. Total corporate funding in Q3 2019 was down slightly with $3.4 billion compared to $3.6 billion Q3 2018.



“After a strong Q2, funding and M&A activity slowed in the third quarter and financial activity is lagging compared the same period of last year. The performance of the much anticipated four digital health IPOs at the end of Q3 has been disappointing and the fate of future IPOs may depend on how well these companies fare,” said Raj Prabhu, CEO of Mercom Capital Group. “Large deals continued to dominate with six companies raising half of all the funding in the third quarter."

Healthcare Practice-focused companies received $599 million in 60 deals and accounted for 29% of the total $2 billion VC funding in Q3 2019, compared to Q3 2018 when $1.3 billion was raised in 62 deals and accounted for 40% of the total $3.1 billion VC funding. Consumer-centric companies raised $1.4 billion in 96 deals and accounted for 71% of total VC funding in Q3 2019, compared to Q3 2018 when $1.9 billion was raised in 111 deals and accounted for 60% of the total $3.1 billion VC funding.

The top funded categories in 9M 2019 were: Telemedicine with $1.5 billion, Analytics with $1.3 billion, and mHealth Apps with $1 billion. Other Digital Health categories that received substantial funding were: Healthcare Service Booking $487 million, Mobile Wireless $437 million, and Clinical Decision Support with $425 million.



The top Digital Health VC deals in 9M 2019 included: $550 million raised by Babylon, followed by $250 million raised by Tencent Trusted Doctors, and $205 raised by Collective Health. Capsule and Tempus brought in $200 million each.



Digital Health VC funding deals came out of twenty-one different countries in Q3 2019.

Digital Health debt and public market financing in 9M 2019 was down 40% with $1.7 billion in 18 deals, compared to the $2.9 billion raised in 18 deals in 9M 2018.

There were four Digital Health IPOs in Q3 2019 in the United States raising $1.2 billion: Change Healthcare raised $557 million, followed by Livongo Health with $335 million, Health Catalyst with $182 million, and Phreesia $167 million.

In 9M 2019, there were 125 Digital Health M&A transactions compared to 172 transactions in 9M 2018. M&A activity in Q3 2019 was also down with 34 M&A transactions compared to the 56 M&A transactions in Q3 2018.

mHealth App companies were involved in the most M&A deals in 9M 2019 with 21 transactions, followed by Analytics and Practice Management Solutions with 12 and 10 transactions respectively. Clinical Decision Support and Telemedicine companies each had nine transactions. Consulting and Health Information Exchange companies each had six transactions.

Top M&A transactions in 9M 2019 included: French company Dassault Systemes’ acquisition of Medidata for an enterprise value of $5.8 billion. The EQT VIII Fund (EQT) and Canada Pension Plan Investment Board (CPPIB) acquired Waystar for $2.7 billion, followed by Golden Gate Capital, which acquired a controlling stake in Ensemble Health Partners for $1.2 billion. Baring Private Equity Asia acquired CitiusTech for more than $1 billion, Nordic Capital acquired ArisGlobal for $700 million, JPMorgan Chase acquired InstaMed for $500 million, and Thomas H. Lee Partners (THL) acquired Nextech Systems for $500 million.

This report is 94 pages in length, contains 69 charts, graphs and tables, and covers 513 investors and companies.

Mercom’s comprehensive report covers deals of all sizes across the globe.

Full report - https://mercomcapital.com/product/9m-and-q3-2019-digital-health-healthcare-it-funding-and-ma-report

Healthtech Startup Abita Innovations Raises Funds from US-based Sky7 Ventures

India based healthtech venture Abita Innovations receives an undisclosed amount of investment from an Ann Arbor-based global incubator and an early-stage fund Sky7 Ventures. The startup, Healthtech uses its integrated tech ecosystem to automate and optimize practice management for its partner medical practitioners, simultaneously providing the patients a standardized and superior in-clinic experience.

The startup is currently working with 30+ doctors across 3 cities that are using its proprietary platform and services under its first product exclusively built for Dentist named Doc32.

Sky7 Ventures is a global incubator and a fund that focuses on unique and innovative tools in financial services and health care industries.

In addition to the monetary support the fund will help the startup in further enhancing its technology interface, develop strategic ties in US & UK markets and scale up its operations in Indian and global markets.

Vineet Katial, Managing Director of Sky7 Ventures and founding member, Detroit TIE angels said “India’s healthcare sector is set to surpass $200 billion by 2020, currently it is a highly fragmented market suffering from a dearth of qualified doctors to serve the semi-urban and rural markets. It is exactly where the healthtech companies can contribute the most by enabling the practitioner and also driving change in the way people consume healthcare.

Abita Innovations has a great team with experienced doctors, top management graduates and tech experts, I am looking forward to the collaboration and working with a business that we feel is built around pretty strong fundamentals”

In his address at TIECON Detroit also Mr. Katial apprised the audience about the innovative work the startup was doing in leveraging artificial intelligence and related technologies to improve patient’s understanding and connect them to the right providers for a superior dental care experience.

Hitesh Kakrani, CEO of Abita Innovations, an IIM Lucknow alumni and having work experience with Fortune 500 companies like P&G said “We are very excited to have Sky7ventures and Vineet by our side as we look to disrupt some traditional business models in the healthcare space using some great technology. Vineet has been our mentor throughout and has helped us tremendously in building this business ground-up. It was simply great to have him guiding us and now to have a formal deal with Sky7ventures is exactly the sort of motivation we need to take our operations to the next level”.

Digital Health VC Funding Hits $2 Billion in Q1 2019 - Report

Mercom Capital Group, llc, a global communications and research firm, released its report on funding and merger and acquisition (M&A) activity for the Digital Health (Healthcare Information Technology) sector for the first quarter of 2019. Mercom’s comprehensive report covers deals of all sizes from across the globe.

Venture capital (VC) funding, including private equity and corporate venture capital into Digital Health (Healthcare IT) companies in Q1 2019, came to $2 billion in 149 deals compared to $1.4 billion in 142 deals in Q4 2018. VC funding in Q1 2019 was down 19% compared to the same quarter of last year (Q1 2018) when nearly $2.5 billion was raised in 187 deals.

Digital Health companies have brought in over $37 billion in disclosed VC funding since 2010.

Total corporate funding for Digital Health companies - including VC, debt, and public market financing - totaled $2.2 billion in Q1 2019.



“Funding levels were down compared to last year in Digital Health in the absence of larger deals. M&A activity was also flat. However, Digital Health public equities experienced a turnaround in Q1 with 66% of them beating the S&P 500 compared to Q4 2018 when 63% of the equities we tracked performed below the S&P 500. Favorable market conditions have prompted several companies to announce IPO plans,” said Raj Prabhu, CEO of Mercom Capital Group.



The top funded categories in Q1 2019 were: $557 million raised by Data Analytics companies, mHealth Apps with $392 million, Telemedicine with $220 million, Healthcare Booking with $177 million, Clinical Decision Support with $107 million, Mobile Wireless with $90 million and $80 million for Healthcare IT Service Providers.



There were 48 early-round deals in Q1 2019.

The top VC deals in Q1 2019 included: $170 million raised by Doctolib, $100 million from Health Catalyst, $88 million raised by Calm, and $80 million by Taimei Medical Technology.



A total of 371 investors participated in funding deals in Q1 2019 compared to 412 investors in Q1 2018. There were 16 FDA and CE approvals issued to Digital Health companies in Q1 2019.

Digital Health VC funding deals were distributed across 17 countries in Q1 2019.

In Q1 2019, there were 45 M&A transactions (seven disclosed) involving Digital Health companies compared to 48 M&A transactions (13 disclosed) in Q1 2018.

Practice Management Solutions companies led M&A activity with five transactions followed by Data Analytics companies with four transactions. Companies providing Clinical Decision Support, Electronic Medical Records, and Emergency Department Information Systems had two transactions each. There was one transaction each recorded by companies offering Asset Tracking, Document Management, Long-Term and Post-Acute Care, and Medical Imaging.

The top disclosed M&A transactions included the $195 million acquisition of Voalte by Hill-Rom Holdings, followed by BioTelemetry’s acquisition of Geneva Healthcare for $65 million. Alphabet's Google acquired Fossil Group’s intellectual property related to a smartwatch technology currently under development for $40 million, Netmeds acquisition of KiViHealth for $10 million and Livongo Health’s acquisition of myStrength for $10 million.

A total of 610 companies and investors were covered in this report.

Health Tech Startup Medimetry Raises Funding from Bluesky Capital

Faridabad-based health technology startup Medimetry has raised an undisclosed amount in seed funding led by US-headquartered hedge fund BlueSky Capital Management.

Launched in 2014, by IIT alumnus Krishan Tyagi and his wife Dr Bhawana Tyagi, Medimettry offers an online platform for telemedicine, electronic medical records and disease management.

The company started out as an online doctor consultation platform that connects doctors with patients in real time. It is now building a digital disease management platform for chronic ailments. Medimetry has a mobile app and web portal that enable patients to chat with doctors at their convenience - from anywhere, at anytime.

Currently operational in Delhi-NCR, Medimetry plans to use the fresh capital for sales, marketing and to upgrade its digital disease management platform.

Beside Tier-1 cities, Medimetry also aims to solve the problem of accessibility and convenience in smaller towns and rural areas. Most villages do not have a hospital and residents have to travel quite a distance to access healthcare. “We want to educate these markets so that their problems can be solved through a medical app and they don’t have to travel. So the aim is to expand not just to tier 3 but rural areas as well,” Krishan says in a statement to a daily last year.

About Bluesky Capital, it is a US-headquartered investment firm that backs high-potential teams, technologies and business models with a particular focus on mobile and security-related technologies targeting the financial services and payment sectors.

Bluesky's target investment size is $200,000 to $2 million with the potential for additional commitments in follow-on financing.

Earlier this month, New Delhi-based fertility healthcare platform ElaWoman raised $3 million in series A funding round led by Chiratae Ventures (formerly IDG Ventures India), along with Alkemi Venture Partners.

In August, Bengaluru based healthtech firm, HealthPlix, that assists doctors digitally, had raised $3 Million from IDG Ventures India and Kalaari Capital.

Mumbai-based Healthcare App Alivemeter Gets Acquired by Madhyam Corporate Services

Mumbai-based Madhyam corporate services Ltd which has business interests in media and healthcare, said on Tuesday that it has acquired the Diet Health Tech Startup Alivemeter for an undisclosed amount.
Alivemeter’s platform of dieticians and customers that provides cost effective diet plans with rigorous monitoring will be a synergistic addition to our tech enabled preventive healthcare infrastructure, said Mr S K Sharma director – Madhyam corporate public ltd

[caption id="attachment_125879" align="alignleft" width="350"] Tanushri Roy, founder of Alivemeter[/caption]

Alivemeter was founded in early 2016 by Tanushri Guin (Read our Featured Story), a marketing veteran who has worked earlier with large corporate firms such as Times of India, Zee and India today.

"Alivemeters’ robust technology platform along with network partnerships which includes over 70 fitness centres, Healthspring and insurance companies helps dieticians and nutritionists to scale business. We believe that with elements of AI to be added, it will greatly add value to condition management programs that we currently offer to Corporates and Health Insurance firms. Our businesses spread across east and north India & recent expansion in Singapore will augment Alivemeter to increase its consumer base at the same time help us providing an integrated solution to our consumers.” Said Mr Sharma.

"There is an urgent need for greater transparency in India's diet and fitness business. Madhyam has been doing great work in parts of India in preventive healthcare & condition management. It is also working very closely with central and state governments, schools & corporates providing health solutions to employees which in return will help them to improve productivity. I am sure the team would take Alivemeter to higher levels of growth. said Tanushri, Co-Founder & CEO of Alivemeter.

With growing technological advancements, the Indian healthcare sector has seen a rapid transformation especially in online healthcare platforms (OHP) that have emerged to 'democratize' the healthcare system.

Health-related mobile applications and technologies are often known as mHealth and manage the patient experiences.

According to a report, the global mobile health (mHealth) app market is projected to be valued at US$28.320 billion in the year 2018 and is expected to reach US$102.35 billion by 2023, growing at a CAGR of 29.30% during the period.

It may be recalled that, earlier this month, tech giant Google had acquired Seattle-based health monitoring startup Senosis Health, which was founded by Indian-origin Professor Shwetak Patel along with four others.

Prior to this, in last month, LeapFrog Investments, an investor in companies that deliver healthcare and financial services for emerging consumers, has acquired a majority stake in Ascent Meditech, a Mumbai-based Consumer health tech company which own and operate market-leading Flamingo brand.

In August last year, emids, a global provider of IT services and solutions for the healthcare and life sciences industries, had made an acquisition of Encore Health Resources, a leading healthcare information analytics company focused on value-based care and electronic health records for providers.

Healthtech Startup Navia Raises $100K in Bridge Round from Benori Ventures

New Delhi-based healthcare technology startup Navia Life Care Pvt. has raised $100,000 (~ Rs.67 lakh) in a a bridge round of funding from existing investor Benori Ventures, a Gurgaon-based Venture Capital & Private Equity firm led by research major Evalueserve’s former chief operating officer Ashish Gupta.

Other then Benori, angel investors who participated in this round include Rahul Verma and Sorabh Agarwal, among others, reported VCCircle.

The startup plans to use freshly raised capital towards growth and fueling expansion in business development and technology. Navia also plans to launch a few products over the next three to four months.

Founded in 2015 by Kunal Kishore Dhawan, Shourjo Banerjee and Gaurav Gupta, Navia Life Care is a health technlogy company with a special focus on patient care. The startup offers customized mobile apps for doctors, clinics, hospitals, and pharmaceutical companies for patient monitoring, engagement and compliance.

The startup had earlier raised an angel round of funding from Benori Ventures LLP in April 2017.

Navia has its flagship product called Navia Ace, which is a fully-integrated and end-to-end clinic management system, targeted towards individual practitioners or small clinics, focusing on patient engagement and retention.

Navia is currently working with around 25 clinic chains and hospitals, along with one pharmaceutical company, and is targeting 200 clients in this financial year.

Ritesh Malik, founder of co-working space provider Innov8, and former PwC India chairman Deepak Kapoor serve as mentors to the startup.

Speaking about Benori Ventures, it invest in early stage startups based in Delhi/NCR and mentor entrepreneurs who have the potential to impact the lives of millions of people. Some of its investment portfolio startups include edtech platform ConveGenius, school admission automation firm KleverMind and tea retail outlet TPot.

Recent Investment in Health Tech Space

Last month, Mumbai-based i3systems, a healthcare machine learning product company raised $1 million from Unitus Ventures, a marquee impact investment firm.

In April, another Mumbai-based health tech startup Doxper, which has created a digital pen and coded paper system for doctors to record patient information, had raised $1.1 million in a pre-series A round led by existing investor Vidal Healthcare, a health insurance company

In the same month, Twitter co-founder Biz Stone has invested in a healthcare chatbot Visit, which is also powered by Artificial Intelligence.

Healthtech Startup Navia Raises $100K in Bridge Round from Benori Ventures

New Delhi-based healthcare technology startup Navia Life Care Pvt. has raised $100,000 (~ Rs.67 lakh) in a a bridge round of funding from existing investor Benori Ventures, a Gurgaon-based Venture Capital & Private Equity firm led by research major Evalueserve’s former chief operating officer Ashish Gupta.

Other then Benori, angel investors who participated in this round include Rahul Verma and Sorabh Agarwal, among others, reported VCCircle.

The startup plans to use freshly raised capital towards growth and fueling expansion in business development and technology. Navia also plans to launch a few products over the next three to four months.

Founded in 2015 by Kunal Kishore Dhawan, Shourjo Banerjee and Gaurav Gupta, Navia Life Care is a health technlogy company with a special focus on patient care. The startup offers customized mobile apps for doctors, clinics, hospitals, and pharmaceutical companies for patient monitoring, engagement and compliance.

The startup had earlier raised an angel round of funding from Benori Ventures LLP in April 2017.

Navia has its flagship product called Navia Ace, which is a fully-integrated and end-to-end clinic management system, targeted towards individual practitioners or small clinics, focusing on patient engagement and retention.

Navia is currently working with around 25 clinic chains and hospitals, along with one pharmaceutical company, and is targeting 200 clients in this financial year.

Ritesh Malik, founder of co-working space provider Innov8, and former PwC India chairman Deepak Kapoor serve as mentors to the startup.

Speaking about Benori Ventures, it invest in early stage startups based in Delhi/NCR and mentor entrepreneurs who have the potential to impact the lives of millions of people. Some of its investment portfolio startups include edtech platform ConveGenius, school admission automation firm KleverMind and tea retail outlet TPot.

Recent Investment in Health Tech Space

Last month, Mumbai-based i3systems, a healthcare machine learning product company raised $1 million from Unitus Ventures, a marquee impact investment firm.

In April, another Mumbai-based health tech startup Doxper, which has created a digital pen and coded paper system for doctors to record patient information, had raised $1.1 million in a pre-series A round led by existing investor Vidal Healthcare, a health insurance company

In the same month, Twitter co-founder Biz Stone has invested in a healthcare chatbot Visit, which is also powered by Artificial Intelligence.

On-Demand Healthcare Startup mfine Raises $4.2 Mn from Prime Venture Partners, Others

Bangalore-based mfine, an app-based on-demand healthcare service provider, has raised $4.2 million in Series A funding led by Prime Venture Partners along with participation of existing investors Stellaris Venture Partners and Mayur Abhaya (CEO and MD of LifeCell).

The startup will use freshly raised funds to build larger hospital network, and further strengthen the technology team of the startup, which presently counts 50 employees in Bengaluru.

Founded in 2017 by Ashutosh Lawania and Prasad Kompalli, mfine brings in instant and continuous connectivity with top doctors of the best hospitals. The startup had earlier raised $1.5 million from Stellaris Venture Partners, in September 2017. The startup has raised over USD 6 million in total, to date.

"We see a huge opportunity to bring the much needed, tech-driven transformation in the USD 50 billion primary healthcare delivery. With our deeply tech driven approach and working with reputed providers, we are effectively creating a 'cloud clinic' where quality healthcare can be accessed on demand from anywhere. We believe we can scale this across the country and beyond and help people gain much more control over their health," said mfine co-founder and CEO, Prasad Kompalli.

The mfine platform ensures that patients can reach the doctors on the network within 60 seconds and start the consultation. Users get access to the same doctors and other integrated experiences as visiting a hospital, virtually and when they need. mfine is also planning to launch additional services such as monitoring of vitals, collection of sample for lab tests and medicine delivery at home.

Additionally, the startup has built an AI-powered technology system that improves doctors' efficiency and effectiveness dramatically. The system is built on the foundation of standard medical ontologies and protocols and is able to learn and replicate high quality diagnosis and treatment methods. The system takes care of structured data collection, reminders for follow up based on signs/symptoms and execution of care protocols for chronic conditions, thereby building a platform that's unique and globally competitive.

Recent Health Tech Startups' Fundings

Last month, Mumbai-based Doxper, a health tech startup which has created a digital pen and coded paper system for doctors to record patient information, has raised $1.1 million in a pre-series A round led by Vidal Healthcare, a health insurance company.

In the same month, Bangaluru-based startup PregBuddy, a health-tech startup for women pregnancy, has raised an undisclosed amount in a seed round of funding from Indian Angel Network (IAN).

Last month Karma Healthcare, an Udaipur, Rajasthan-based startup in the technology-led healthcare space, has raised INR 3 crore in equity funding from early stage investment firm 1Crowd.

In January, Sridhar Vembu, founder of Zoho, has announced that he has invested about $10 million in vTitan, a medical device startup based out of Chennai.

Via - Business Standard

On-Demand Healthcare Startup mfine Raises $4.2 Mn from Prime Venture Partners, Others

Bangalore-based mfine, an app-based on-demand healthcare service provider, has raised $4.2 million in Series A funding led by Prime Venture Partners along with participation of existing investors Stellaris Venture Partners and Mayur Abhaya (CEO and MD of LifeCell).

The startup will use freshly raised funds to build larger hospital network, and further strengthen the technology team of the startup, which presently counts 50 employees in Bengaluru.

Founded in 2017 by Ashutosh Lawania and Prasad Kompalli, mfine brings in instant and continuous connectivity with top doctors of the best hospitals. The startup had earlier raised $1.5 million from Stellaris Venture Partners, in September 2017. The startup has raised over USD 6 million in total, to date.

"We see a huge opportunity to bring the much needed, tech-driven transformation in the USD 50 billion primary healthcare delivery. With our deeply tech driven approach and working with reputed providers, we are effectively creating a 'cloud clinic' where quality healthcare can be accessed on demand from anywhere. We believe we can scale this across the country and beyond and help people gain much more control over their health," said mfine co-founder and CEO, Prasad Kompalli.

The mfine platform ensures that patients can reach the doctors on the network within 60 seconds and start the consultation. Users get access to the same doctors and other integrated experiences as visiting a hospital, virtually and when they need. mfine is also planning to launch additional services such as monitoring of vitals, collection of sample for lab tests and medicine delivery at home.

Additionally, the startup has built an AI-powered technology system that improves doctors' efficiency and effectiveness dramatically. The system is built on the foundation of standard medical ontologies and protocols and is able to learn and replicate high quality diagnosis and treatment methods. The system takes care of structured data collection, reminders for follow up based on signs/symptoms and execution of care protocols for chronic conditions, thereby building a platform that's unique and globally competitive.

Recent Health Tech Startups' Fundings

Last month, Mumbai-based Doxper, a health tech startup which has created a digital pen and coded paper system for doctors to record patient information, has raised $1.1 million in a pre-series A round led by Vidal Healthcare, a health insurance company.

In the same month, Bangaluru-based startup PregBuddy, a health-tech startup for women pregnancy, has raised an undisclosed amount in a seed round of funding from Indian Angel Network (IAN).

Last month Karma Healthcare, an Udaipur, Rajasthan-based startup in the technology-led healthcare space, has raised INR 3 crore in equity funding from early stage investment firm 1Crowd.

In January, Sridhar Vembu, founder of Zoho, has announced that he has invested about $10 million in vTitan, a medical device startup based out of Chennai.

Via - Business Standard