Rajasthan-based healthtech startup Karma Healthcare recently raised around $500,000 in equity funding from early-stage investment firm 1Crowd. Existing investors Ankur Capital, Ennovent Capital and Beyond Capital, and angel investor Anil Chatta, among others, participated in the round.
Founded by ISB Hyderabad alumnus Jagdeep Gambhir, Karma Healthcare provides real-time online video consultations, and delivers healthcare to users via its e-doctor clinics.
It claims to have completed over 50,000 consultations, and currently operates 10 e-doctor clinics in the states of Rajasthan and Haryana, which deliver a comprehensive ecosystem of clinical treatment, quality medicines and diagnostics at competitive rates.
With the new funding, it claims that over 10 lakh patients in the underserved communities of India will be able to access quality healthcare services through Karma’s network of e-doctor clinics.
The company has developed an in-house technology suite that helps it deliver standardised care, including a bespoke clinical decision support system, and is extending its capabilities to deep learning driven diagnosis, treatment and monitoring. Karma is supported by marquee organisations such as the Tata Trusts, UBS Optimus Foundation and WISH Foundation.
“We are grateful to all our investors for reposing faith and commitment in our work. This new funding will help us scale our operations as well as enhance our technology offering to improve quality of care and provide great patient experience,” said Jagdeep Gambhir, CEO of Karma Healthcare. He has several years of experience in rural healthcare and previously worked with Goldman Sachs in India and the US.
Anil Gudibande, co-founder of 1Crowd, said, “Karma has vividly demonstrated that a viable business model, with enormous socio-economic impact can indeed be targeted at the lower half of the pyramid. The simplicity with which they combine knowledge and technology makes for a unique venture. We look forward to working with them as they enter a very exciting phase of growth.”
Ritu Verma, co-founder and Managing Partner at Ankur Capital, said, “Karma’s deep engagement and understanding of healthcare delivery has allowed it to develop an impressive healthcare analytics and decision support system. We look forward to working with Karma in rolling this out to a much wider set of consumers in the next phase of their growth.”
Recently, in February, Hyderabad-based CallHealth had raised funds to the tune of $7.8 million from Bennett Coleman and Company Limited (BCCL).
Apart from Karma Healthcare, there is also Portea, Zoctr, Healers at Home, Unique Home Care started by Apollo Hospitals among others who work in the similar space.