Metaverse Platform Trezi Raises Over $2 Mn in Funding Led By World V and YourNest Venture

Company raises over $2 mn to fund product development and market expansion

India’s leading metaverse platform that connects architects, designers and building construction engineers with product manufacturers, today announced a Series A fundraising of over $2 million led by World V and YourNest Venture Capital along with two other key investors – Auxano Capital and She Capital.

Trezi is India’s first immersive design communication and collaboration platform for the Architecture, Engineering & Construction (AEC) industry which allows users to leverage the power of immersive tech and metaverse. The company will utilise the funding to accelerate its platform development in the metaverse and accelerate its entry into high-potential new geographies. 

The platform with immersive capabilities which went to market in early 2019 has been created by two leading architects of the country, Tithi and Gautam Tewari. Trezi operates on a SaaS model and allows its clients to upload architectural models for viewing, editing and remote collaboration in real-time. In 2021, in its efforts to minimise the wastages associated with product selection in construction projects, Trezi has onboarded forward-thinking product manufacturers who have enriched the platform with their presence. Leading brands such as Schneider Electric, GMR, NCRTC, St Gobain, Orient Bell, The White Teak Company and Blue Star, among others, utilise Trezi’s comprehensive experience that helps the industry use digital twins for the design finalisation and product selection processes. This offering brings additional transaction-based revenues to the platform.

Tithi Tewari, Managing Director, Trezi, said, “As an architect who has spent nearly two decades in the industry, I truly appreciate the value of an intervention like Trezi in the AEC industry. Having started as purely a design communication enhancing product, Trezi’s offerings have expanded based on customer needs. This is what makes it a truly relevant product with a metaverse-based play for our industry. The kind of customers that use Trezi only strengthens this view further. We are excited about the next phase of growth.”

As per Anisha Singh, Managing Partner of She Capital, “We believe in Trezi's vision of revolutionizing the way architects, designers, and construction engineers collaborate with product manufacturers through their innovative metaverse-based platform. This investment reflects our commitment to supporting promising and forward-thinking women-led companies in the technology space, and we are excited to see what the future holds for Trezi.”

Shailesh Churiwala, Partner, World V said, “The offering by Trezi is simple, making it valuable”. The product can immediately demonstrate how future would look like on a decision taken today with regards to your building at large and interiors of your taste. The way this is done is not just in the form of 2D or 3D images or videos but with an immersive environment where one can virtually walk and take a tour. This in itself is very powerful and can emanate many other possibilities in the immediate future. This is just the start”

Sunil Goyal, Managing Director, YourNest and one of the earliest investors in Trezi said: “We are delighted to back Tithi, Gautam and their team. They have made significant progress in making Trezi a world-class product in the last couple of years. We remain excited to be a part of the high product-led growth that Trezi is about to experience.”

Brijesh Damodaran, Co-Founder and Chief Investment Officer, of Auxano Capital, also shared his views on investment “Trezi is not just a software/platform, it's an ecosystem - The Treziverse - with its offerings across Showcase, Academy, Lens. One can experience a home, office, township or even an airport in real-time with all the furniture and fixtures even before the first brick is laid. One can roam around in the space and customise in real-time to suit their preference through the pick-and-drop functionalities. With Trezi the traditional paper mock-ups with stage-by-stage planning can be replaced with a day 0 immersive experience of the space in the metaverse. Having looked into each of the components of Treziverse we are excited to be a part of this revolution in the AEC industry.”

Its other investors include IAN Fund, Indian Angel Network (IAN), Rockstud Capital and Stanford Angels and entrepreneurs.

The transaction on account of Auxano Capital and She Capital was led by Adhiraj Mehra and Drishti Pahwa Managing Partners, AMDP Advisors.

About She Capital

She Capital is India’s most active early-stage diversity fund with a focus of investing in consumer tech startups led by women having high-growth potential addressing large market opportunities. It recently marked its first cash exit with its portfolio company Clovia, in which Reliance acquired a majority stake in one of India's largest all-cash deals in the fashion space.
https://www.shecapital.vc/

About World V

World V Technology Fund I was established in March 2019 and focused on investing in DeepTech ventures. World V Fund was established with the purpose of bolstering the capability of Indian entrepreneurs in expanding globally. It is the brainchild of IITians focused on exploring industries ranging from RetailTech, HealthTech, FinTech, Cloud, IoT and more. With an aim to be a stalwart investor in the Indian startup ecosystem, World V Fund seeks to recognise emerging trends early and identify cutting-edge technologies that have the potential to become thriving businesses globally.
https://world5.fund/

About YourNest

YourNest, established in 2011 as a technology-focused Pre-Series A fund house, has pioneered DeepTech investing and IP-led product innovation in enterprise-driven (B2B) startups (IoT, AI/ML, Robotics, Cloud, Automation, etc). Focused on emerging technologies to enhance the way mankind leverages the value of time, YourNest Innovative Products VC Fund III (which recorded its first close in Sept ’21 and has NIIF as its anchor investor) aims to create an opportunity for Indian entrepreneurs to scale into global markets. Many of YourNest’s portfolio companies across its three funds have secured patents and attracted Fortune 500 Companies as customers. In its first Fund, YourNest has provided a DPI of 1.46 with four exits. Its second Fund is fully invested with a maiden exit. And, at 45.23% net IRR as of Sept. 30 2022, it features amongst the best-performing AIFs, as per the latest CRISIL AIF Benchmark Report of March 2021.
https://www.yournest.in/

About Auxano

Incorporated in 2016, Auxano is the brainchild of experienced investment professionals Brijesh Damodaran and Ashish Padiyar. 'Auxano' signifies 'to initiate growth' in Greek mythology. The VC firm looks forward to investing in early to growth-stage across sectors like deep tech, enterprise SAAS, fintech, edtech, and healthcare. Intending to drive entrepreneurship, innovation and growth, the firm has a hands-on investment approach.

https://auxano.in/

About Trezi

Created in 2018,​ Trezi is a fully immersive platform that dramatically transforms design experience, communication, and remote collaboration in the AEC industry by bringing together all stakeholders in the design process to collaborate at full scale. Trezi advances the understanding, communication, and translation of architectural and interior design for all stakeholders in the design process. This results in reduced errors,​ faster and better decision-making, and ultimately greater business impact and profitability. With leading design firms and product manufacturers a part of the platform now, the Treziverse (as it has come to be known) will now support lead generation and transactions to support building product manufacturers.

https://trezi.com/

AI-powered Imaging, Visual Enhancement Startup Orbo AI Raises $1.6 Mn in Funding

Orbo.ai, an AI-powered imaging and visual enhancement or computer vision startup, on Friday said it has raised US$1.6 million (about Rs 11.3 crore) in funding led by YourNest Ventures and Venture Catalysts.

The pre-series A round saw participation from industry veteran Vinod Dham and John Ason (Jet.com investor) as well as existing investors, including Refex Capital, a statement said.

Orbo will use the new investment to ramp up its AI-based research efforts to remain a step ahead of futuristic market demands and further create a seamless and automated visual enhancement stack, it added.

[caption id="attachment_133100" align="aligncenter" width="1024"] Orbo AIs Moodmoji App that Turn your face into emojis[/caption]

Set up in 2015 by Manoj Shinde, Orbo uses deep learning powered technology to improve imagery and provide enhanced resolutions for pictures and videos on mobiles, laptops or display devices.

Its solutions are used across industries, including media and entertainment, retail and e-commerce.

"We will be using the funds to provide superior technology solutions to our customers along with expediting our expansion and hiring plans across verticals such as R&D, engineering, product development, sales and marketing," Orbo.ai CEO Manoj Shinde said.

The firm is in advanced automation trials with a number of global brands, tech companies and partners and hopes to announce around 3-5 more deals in the display and e-commerce space, he added. PTI SR

India's First Companion Robot Maker Emotix Raises $2 Mn from IDG Ventures India, YourNest

Mumbai-based robot making startup Emotix has raised $2 million in a funding round led by venture capital firms IDG Ventures India and YourNest. The startup has created India’s first personal companion robot, Miko, which has the capability of engaging, educating, and entertaining a child the Indian way.

Founded in October 2014 by three IIT-Bombay alumni -- Sneh Vaswani, Prashant Iyengar & Chintan Raikar, Emotix is creator of India’s first companion robot Miko, and is a technology driven company focused at developing emotionally intelligent systems in verticals of Robotics, Internet of things and Artificial Intelligence.

The funds raised will be used for new product development and research in the area of consumer robotics focussed on emotional and artificial intelligence. The funds will also be used for creating new consumer robot products that the company will roll out in the coming years.

The startup unveiled the Miko prototype at recent CES 2018, a global electronics event. The startup is going to address one of Miko's limitations with the refresh, which is called Miko Plus. While Miko requires you to use a smartphone to issue commands to the robot, Miko Plus will allow you to issue voice commands directly, with no smartphone involved.



Priced at Rs.19,000, Miko is an emotionally intelligent robot capable of engaging, educating and entertaining. Designed for children above the ages of five, this pint-sized package has access to a wide pool of knowledge which it conveys to a child in a conversational manner.

“Over the past two-and-a-half years, we have created a hardware product for consumers specifically focusing on children from the age of 5 to their teenage years. The robot Miko has a conversation and can teach them about diverse things from flowers to cars,” Sneh Vaswani, cofounder of Emotix said.

The startup claim to have seen an equal amount of traction from parents in tier-II and -III cities, as well as from those in the metros. “Besides a consistent growth rate in sales, we surpass some of the best AI conversational stacks globally, by clocking 37 times the average session duration with our user as compared to industry peers,” added Vaswani.

The above news was first reported in Economic Times.

To recall, in December, H-Bots Robotics, a Hyderabad-based robotics startup, has unveiled world’s first smart policing robot. The robot is developed by the startup is fully 'Made in India', using all the components sourced from within the country.

In April 2017, a Chennai based startup had launched a a food serving robot and soon after a Mall robot was also launched by an another Indian startup.

Recent Robotic Startups Fundings

In February, Chennai-based Planys Technologies, an IIT-Madras incubated marine robotics startup that provides under-water inspection and survey solutions using custom-built submersible drones, has raised ₹14 Cr Series A round from Kris Gopalakrishnan along with investors who participated in this round including Pratithi Investment Trust, MEMG (Manipal Education and Medical Group) Family Office, and some HNIs including S Gopal, former director of Chemplast Sanmar.

In the same month, Kerala-based GenRobotic, along with three other startups, has raised funding from Unicorn India Ventures.

India's Yournest Invests in Singapore-based IoT Startup KaHa

India's early-stage venture capital fund YourNest on Tuesday announced that it had successfully participated in a round of fundraising for a Singapore-based consumer IoT company, KaHa.

The funding is led by Metals International with the participation of Jungle Ventures, Spring Seeds Capital, Singapore, and existing investor YourNest.

A total of USD 4.5 million is invested in KaHa, which will help drive the IoT company’s expansion plans.

“KaHa is a technology company which provides end-to-end solutions to its brand partners to achieve world-class smart products. Our IP in both software and hardware come with a state-of-the-art social platform,” said founder and CEO, KaHa, Pawan Gandhi.

“Consumers across Asia, Europe, and North America are some of the most tech-savvy in the world, and our R&D is focused on anticipating their needs and wants in this fast-developing field. What sets us apart as a brand is our obsession with redefining the consumer experience, solving everyday problems and creating delightful social journeys,” added Gandhi.

KaHa’s key offerings include COVE and COVEnet; IoT platforms which provide flexible solutions for launching smart networked devices and a one-stop solution for brands to bring exciting smart wearables to their customers.

They support a range of patented vertical consumer experience ranging from standard clinical health, wellness, sports and fitness, safety, smart payment, sensor-based gaming, smart fashion, home automation to smart automobile and is currently deployed in over 100,000 devices across Asia.

KaHa also offers an end-to-end solution for smart analogue watch tech, integrating everything from design, hardware, and firmware, iOS/Android application, to cloud services, analytics and after-sales service tools.

Earlier this year, Yournest had invested in CRON System which too is a IoT based defence startup.

iSPIRT’s Sharad Sharma Joins YourNest Advisory Board for Fund 2

Early stage venture capital firm, YourNest, today announced the advisory board for its recently launched Rs. 300 cr YourNest India VC Fund 2. Sharad Sharma, co-founder and CEO of iSPIRT, Ashish Gupta, founder of Evalueserve & Benori Ventures, and Prof. Rishikesha T Krishnan, Director IIM-Indore are the first three appointees to the proposed eight-member board. The other five seats will be represented by institutional investors.

Sharad Sharma said, "YourNest aims to co-create cutting-edge technology solutions out of India. Their track record, as well as leadership, highlights their commitment to forge product leadership out of India. I look forward to work with them in shaping the next wave of techpreneurs.”

Sharad Sharma embodies entrepreneurship and technology evangelism in India and is the co-founder of iSPIRT, the think tank for Indian software products. Ashish Gupta is a successful entrepreneur and a well-known angel investor. Prof. Krishnan is a recognised expert in the area of innovations with an India focus.

The Advisory Board will offer strategic counsel to the YourNest team on investment strategy, corporate governance and leadership development. The board members bring deep expertise in building high-growth companies, reading the evolving technology landscape and define the contours of the Indian venture capital and start-up ecosystem. They would act as sounding members to drive key growth initiatives at YourNest.

Sunil Goyal, Founder & CEO, YourNest said, “YourNest’s work is expanding rapidly as we continue to back the best in the Indian startup ecosystem. In order to deliver greater value to all our stakeholders,it is critical to bring knowledgeable and diverse minds to the table.Each of our advisors brings incredible knowledge and experience in various realms of VC Funding and startup ecosystem and will make the entire team wiser with their inputs.It is humbling to have someone like Sharad be a part of the board on a pro-bono basis due to his zeal to invigorate the product ecosystem in the country.”

In late 2016, YourNest launched YourNest India Fund II with a corpus of INR 300 crores, to offer pre-Series A funding to 4-8 ventures every year. From the 4,000+ proposals YourNest receives annually, the second fund will focus on startups that operate at the cutting edge of technology. The sectors they will target include Internet of Things, Electronic System Design, Artificial Intelligence, Advanced Robotics, Enterprise Software and Mobile Internet.

From its Fund 1, YourNest has invested in companies like Arya.ai, Uniphore, Mycity4kids and GolfLan. For Fund-1, YourNest had Alok Mittal, R Satya Narayan, Badri Aggarwal, Prof MM Pant, Ramesh Dharmaji (SDIBI nominee) and Purvi Parkeria (an IIFL nominee) in its advisory board.

YourNest Adds Revvx Co-founder Satish Mugulavalli as Director-Technology

Early stage venture capital firm, YourNest, has appointed Satish Mugulavalli as Director- Technology. Satish, who co-founded Revvx IOT Hardware Accelerator--India’s first accelerator for hardware start-ups--will work closely with the fund to identify startups in deep tech, and be the hands-on expert for portfolio companies.

Satish will moonshot innovation, growth and product life cycles for portfolio companies, and also guide them on IP, patenting, system architecture and team building. He will identify deep tech investments in areas like IOT, Advanced Robotics and Enterprise Software.

Mr Sunil Goyal, Founder & CEO, YourNest India VC Fund said, “We have a laser sharp focus on deep-tech companies and Satish, as our Director-Technology, brings the scientific temperament of a technologist and the business acumen of an entrepreneur to further our philosophy of co-creation. His experience and solid connect with the startup ecosystem is invaluable and will play a critical role in helping us choose the right companies. His expertise in deep tech will be extremely useful to drive greater growth and success for our portfolio companies as well.”
As co-founder and CEO of Revvx--which helps hardware startups prototype, manufacture and distribute, Satish mentored over 15 startups across multiple accelerator tracks. He has helmed leadership roles for over 20 years in several startups, such as Verismo Networks, Teneoris Networks, Ishoni and Multi-Tech. He holds patents in digital media and networking apart from an illustrious body of work in architecting high performance systems in voice, video and data networking products, internet platforms and services.

Satish Mugulavalli said, "YourNest portfolio contains a very interesting mix of deep-tech companies in sectors like SaaS, defence and IoT. I am really excited to work with Sunil and team to discover more such gems. There are many ideas waiting for the right input to become successful. The opportunity to co-create solutions with ambitious entrepreneurs that can change the world inspires me the most.”

YourNest completely deployed its first fund and made investments in sectors such as SaaS, AI and data analytics. Some of the marquee investments from fund 1 include companies like Arya.ai, Uniphore, Mycity4kids and GolfLan.

It recently launched “YourNest India Fund II”, with a corpus of INR 300 crores, to offer pre-Series A funding to 4-8 ventures every year. From the 4,000 proposals it receives annually, the fund will focus on deep-tech sectors, like Internet of Things, Electronic System Design, Artificial Intelligence, Advanced Robotics, Enterprise Software and Mobile Internet.

Online Golf Aggregation Platform GolfLAN Raises $1M from YourNest and Africa’s iSON Group

GolfLAN, Asia’s online golf community and marketplace, has raised $1 million from existing investors, YourNest Angel Fund and Africa’s leading IT/ITES group, iSON. The funds will be used to expand to regions witnessing a surge in interest for the sport, especially in Africa, Middle East and SEA countries such as Malaysia, Singapore, Indonesia, Thailand and Vietnam. GolfLAN’s maiden investment round of $ 1 mn in 2015 saw participation from YourNest and multiple angel investors.

While golf has had successful patronage in Europe, North America and Japan for a long time and there are a few online aggregation platforms in developed economies such as the US, UK, Europe and Canada, GolfLAN is the only comparable aggregator that serves the needs of golfers in emerging economies. The sport has found new and fertile markets in the form of Middle East, north Africa and the growing economies of South East Asia like India, Malaysia, Singapore, Indonesia, Thailand and Vietnam. In the last 4 years, the number of golf enthusiasts in India has sharply gone up, with about 200 thousand people teeing today compared to 30 thousand in 2010.

The potential for growth is exponential, with just 300 golf courses across the country compared to more than 15000 in the US. Out of these 300, over 50 have been built in just the last 5 years with around 60% having been built in Tier 1 and 2 towns, highlighting the rapid growth that the sport is witnessing as well as the diverse backgrounds from which the new players are emerging. As far as Middle East is concerned, The United Arab Emirates (UAE) now counts 20 courses. It had none in 1990. Similarly, Morocco now has 40 places to play golf, up from 12 in 2000 while Dubai and Abu Dhabi today host annual professional tournaments like Omega Dubai Desert classic.

On GolfLAN’s cloud-based SaaS platform OTTO (Online Tee Time Organiser), golfers from anywhere in the world can book tee slots in over 1000 courses across 40 countries, apart from finding golf equipment and trainers. Within 5 years, GolfLAN has grown to 20000 users and in terms of revenue, saw a 400% increase in the last 18 months. In July 2016, it acquired a Dubai-based golf technology company, StayPrime, in a $1 million deal. StayPrime’s products and services have been in use in several golf courses, including Valderrama Golf Course in Spain and Wentworth in the UK. With this acquisition, GolfLAN has strengthened its technology platform with more value-added capabilities for providing a superior user experience.

GolfLAN has been founded by Dhruv Verma, an XLRI alumnus with over 14 years of experience across BFSI, BPO and Telecom spearheading Sales, Strategy, and Learning and Development. Dhruv is also an avid golfer and started GolfLAN in 2013 with an aim to improve access to the sport for the growing tribe of golf players while providing a platform for golf courses across continents.

“Golf is rapidly moving into mainstream and is shedding its status as a sport that is the forte of the ‘rich’ or ‘elite’. As more players aspire to learn and play golf, we are witnessing a proliferation of golf courses across countries in the Middle East, South East Asia and Africa, apart from India, signalling a dizzying growth for the sport. This sparked the need for an aggregation platform that brings all stakeholders under one roof and thus GolfLAN came about. Our growth in the last 3 years validates this”, said Dhruv Verma, CEO, GolfLAN.

“GolfLAN is building a solid and focused niche that is getting stronger as golf continues to become more mainstream. The company directly responds to the need of the growing community of golfers in emerging economies, and we are impressed with the adoption in such a short while. It offers them multiple opportunities for growth and revenue generation as they become the platform of choice for the rapidly increasing community of golfers in Asia.”, said Sunil Goyal, founder and CEO, YourNest Angel Fund.

Mr. Ramesh Awtaney, Founder and Chairman of iSON group, has also taken up a minority stake in GolfLAN. “GolfLAN has a well-established business model across Asia and the Middle East. We believe that the company has great potential to enter the African market in countries like South Africa, Kenya and Nigeria where golf is gaining popularity. Our presence and knowhow in these regions will expedite their foray into these markets,” he said. Ramesh is also a Limited Partner in YourNest Angel Fund.

Image : Dhruv Verma, CEO, GolfLAN

YourNest Launches Fund II and Ropes in Technology Veteran Vivek Mansingh, as a General Partner

YourNest, India’s leading early stage venture capital firm, today announced the launch of its second fund, “YourNest India Fund II”, with a corpus of INR 300 crores. The Fund will tap into Indian HNIs with a growing appetite for AIFs (Alternate Investment Funds), Global & Indian Institutions and Fund-of-Funds. The firm also announced that it is bringing on-board Dr. Vivek Mansingh, a 30-year global technology veteran, as a General Partner. Dr. Mansingh has held leadership positions in several global corporations and is mentor to several technology startups in India and USA.

YourNest India VC Fund II will focus on pre-Series A funding of about 25-30 startups across the technology and technology-enabled spectrum. Annually, the portfolio plans to fund about 4-8 ventures, from a well-cultivated pipeline which currently provides over 4000 startup proposals. This will allow the fund to construct a concentrated portfolio where YourNest is able to co-create successful companies by mentoring and working closely with the startups. The Fund will also make their network of mentors and advisors available to the portfolio companies. YourNest works closely with the founders in all areas including leadership, strategy, technology, go-to-market planning, sales, marketing, finance, next rounds of funding and healthy exit multiples. YourNest portfolio will be built around technology and tech-enabled businesses, with greater interest in areas like Internet of Things, Electronic System Design, Artificial Intelligence, Advanced Robotics, Enterprise Software and Mobile Internet.

On the launch of the YourNest India VC Fund II, Sunil K Goyal, Founder and CEO, said, “We firmly believe that the best in the Indian startup world is yet to come. Our belief is strengthened by the large number of Indian corporate leaders, and change makers, who have joined us as investors. We are committed to our core values of being fair and transparent in managing the fund, while cherry picking ventures that demonstrate strong business fundamentals and growth. Early stage investing will continue to be our forte; with our team of seasoned advisors, four dedicated fund managers and a growing pool of mentors and active investors, we plan to build on the momentum created with the first fund.

Dr. Vivek Mansingh joins as General Partner

The new fund marks the entry of Dr. Vivek Mansingh, as a General Partner. Vivek brings with him a deep understanding of entrepreneurship and the entrepreneurial ecosystem, having worn multiple hats as an entrepreneur, inventor, a well-respected angel investor and a global leader. He has played executive leadership roles not only at technology giants Cisco, Dell, Fujitsu and Hewlett-Packard but also at a number of startups and smaller companies in US and India, many of which saw successful exits.

In the last two years, Vivek has incubated 5 technology startups and is engaged with several YourNest portfolio companies. He is currently Chairman of the Board, AxisCades, an integrated engineering services company listed on the Indian stock exchanges and also on the Board of leading NGO, Janaagraha.

Dr. Vivek Mansingh, who is also an investor in the YourNest Angel Fund I, said, “I have been an angel investor and advisors to VCs for over 20 years. The reason I have decided to join YourNest is to realize my passion to engage with early stage startups and founders to co-create successful global businesses”.

Karan Bhagat, Founder, Managing Director and CEO of IIFL Wealth and an LP, said, “As a Limited Partner (Investor in the Fund I), we have found the YourNest team to be co-operative, transparent, and willing to share information. They have offered us some interesting co-investment opportunities. We wish Sunil and team the very best for their second fund”.

About Fund I and YourNest

Founded in April 2011 by Sunil K Goyal, Sanjay Pande and Girish Shivani, YourNest is an early stage venture capital fund that invests in new connected economy represented by mobile, internet, data analytics, software and cloud. The first fund launched in 2012 saw subscription from 144 individual investors as well as 3 institutional investors- SIDBI’s India Opportunity Fund, IIFL Seed Ventures and Northgate Capital (a silicon valley based USD 5 billion Fund of Funds) with a corpus of INR 90 crore. The portfolio includes 16 companies, including Uniphore Software, mycity4kids, Rubique, Arya.ai, Smart Software Testing Solutions Inc, Simpli5d, SmartQ, seeDoc, Fashalot, aahaa stores, MoMark, and GolfLAN from its first fund, and the returns from it firmly places the fund in the top quartile of pre-series A stage venture funds. Significantly, the portfolio has zero mortality rate.

App Based Online Medical Consultation Platform SeedDoc Raises $1M Led by YourNest

Gurgaon-based SeeDoc, an app-based online medical consultation platform which offers paid video consultation with doctors, has raised around $1 million (around Rs 6.7 crore) in its pre-Series A round of funding led by early stage venture fund YourNest. YourNest has earlier invested in Mycity4kids, Proof of Performance, Uniphore Software, Simpli5D Technologies, Bookmycab, GolfLan, BetaOut, Rubique.com and Fashalot.

Several other investors also participated in the round but their names are still undisclosed by the company.

The startup was founded by two Silicon Valley serial-entrepreneurs Jaideep Singh and Vivek Bansal. Users can ask questions from doctors or opt for video consultation. It also allows users to get medicines delivered and diagnostic tests done at home, and keeps all medical records organised at one place. Users can also post a medical query on the app for free and get a response from specialists within 48 hours.

The app which is available for Android and iOS users, claims to have more than six lakh users and processes roughly 500 video consultations daily, as reported by VCCircle.

Combining together technology, years of medical experience and an intelligent diagnosis procedure, SeeDoc was created with a mission of revolutionizing personal and family health through a convenient and easily approachable medical assistance model.

The startup is also looking the offline market and has been partnering with leading labs and pharmacy chains such as SRL Diagnostics and Religare.

Other players operating in the space are iCliniq, Prescribez, DocsApp, Careongo, JustDoc and Doctor Insta. Last month, Bangalore- and Coimbatore-based an online doctor consultation platform iCliniq which is owned and operated by Orane Healthcare India Pvt. Ltd, raised an undisclosed amount in angel funding from Erode-based laparoscopic surgeon Madhan Kumar Madathupalayam.

In May, ThingsMeet Solutions Pvt. Ltd, which owns soon-to-launch healthcare app Prescribez, has secured seed funding from high net-worth individual and angel investor Ankush Mehta.

In the same month, Doctor consultation app DocsApp received seed investment of $1.2 million from investors led by Japanese venture capital firm Rebright Partners with participation from early Facebook investors Anand Rajaraman and Venky Harinarayan also invested in that round.

Prior to that, Careongo Technology Pvt. Ltd, which runs a chain of co-branded online pharmacies, raised pre-Series A round of funding from Farooq Oomerbhoy of FAO Ventures and a group of other investors.

In January, JustDoc, a healthcare startup that facilitates online video consultation with doctors, raised seed funding from former Infosys director TV Mohandas Pai, InMobi co-founder Mohit Saxena and other investors. In December 2015, Doctor Insta Pvt. Ltd had raised funding of $500,000.