Healthcare Startups in India
Globally, health startups in the digital space have attracted $5.8 billion in funding in the year of 2015, according to venture capital database CBinsights. India has also seen lot of funding in the digital healthcare space with Practo bagging $90mn in its series C round led by Tencent.
In the past couple of years, many entrepreneurs have come with technological solutions to disrupt the healthcare space. It is interesting to note that every startup has tried to carve its niche by focusing on a particular segment in this space.
A quick brief on a few prominent startups in the healthcare space:
Practo — (2008) Doctor discovery and booking
$125mn Tencent, Sofina, Sequoia India, Google Capital, Altimeter Capital, Matrix Partners, Sequoia Capital Global Equities and Yuri Milner
Lybrate — (2013) Consultation with a doctor at your convenience
$11.43mn Nexus Venture Partners, Tiger Global, Ratan Tata
Goqii — (2014) Fitness health tracker
$13.4mn (Series A) New Enterprise Associates (NEA) and Cheetah Mobile Inc, Great Wall Club (GWC), DSG Consumer Partners, Ilkka Paananen, Pravin Gandhi. Many other angels participated in earlier rounds
Portea — (2013) In home healthcare services
$45.5mn Accel Partners, International Finance Corporation, Qualcomm Ventures and Ventureast
Welcome cure — (2013) Online homeopathy consultation platform
$6mn Unnamed angels and a media house
1mg — (2015) Online pharmacy
$6mn Sequoia Capital, Omidyar Network, Intel Capital, Kae Capital, Deep Kalra (rebranded from Healthkart Plus)
· Startups like welcome cure are capturing the alternative healthcare space which should see lot of traction and investors money in the coming times.
· Many startups are also mushrooming in providing doctor home services. Apart from Portea mentioned above, Saif Partners funded Care24 is another such startup which raised $4mn in its series A.
· Goqii is fighting out in the wearable tech space with its value proposition of a coach behind the app, helping you to achieve your objective. With likes of fitness tracker launched by Xiaomi, Micromax, Intex, it definitely adds much more value than the others.
· Practo has been on an acquisition spree ever since it raised a large series C round. It will be interesting to see if it gets into services like video consultation, doctor at home by acquiring any of the above mentioned startups.