Hyper-personalised physician engagement app MEngage raises $175 K in seed funding
The Jaipur-based platform, which builds customised engagement apps for doctors, has raised the seed funding from a group of angel investors. The investment will be reportedly used in strengthening technological capability and expanding its footprint to tier-I cities.
Investors who participated in the seed funding round included Siddharth Agarwal, CEO of Silk Asia and President of TiE Rajasthan; Mahaveer Sharma, Chairman of Rajasthan Angel Innovators’ Network (RAIN); Amit Singal, Founder and CEO of Startup Buddy; mobile tech accelerator, 100 Co-founders Lab; and others.
In a statement released by the company, MEnagage’s investor and Founder of Startup Buddy, Amit Singal said, “MEngage has shown outstanding growth since the launch of the product, and the team has demonstrated that they don’t just have a great product, but are capable of acquiring and delighting users at scale.”
Incubated in 100 Cofounders Lab’s first cohort in April 2015, MEngage was hived off in August 2017. MEngage has built the Doctor Factory app framework through which it develops highly-personalised engagement apps for doctors (the app is named after the doctor) on both Android and iOS platforms in a day.
Doctors can interact with patients on the app and access their medical history on cloud whenever he/she visits the physician. The app’s features include medical records, booking appointments, doctor’s blog, automated reminders, vaccination reminders, and smart queue management with real-time live tracking of appointments, among others. The platform also provides a digital notepad, a unique device, which captures prescription digitally while it’s being written on paper.
Currently, the platform is generating revenues via annual subscription from doctors for their app and sale of the digital pad.
Manmohan Singh, CEO and Co-founder of MEngage, highlights, “This app will otherwise need a six month turnaround time, and will cost nothing less than six lakh against our pricing of Rs 15,000 yearly subscription on SaaS Model.”
So far, the platform claims to have on-boarded 182 doctors from Jaipur, Alwar, Bhiwadi, Bikaner, and others. The MEngage app has enabled 60,000 patient visits and 6,500 prescriptions. The app has been downloaded 19,500 times, and has an active user base of 9,500.
“We hardly know any immediate competitor, with the kind of traction we have, who is making the app in the way we are making as part of hyper-personalised doctor-patient lifelong engagement app (in name of the doctor themselves). Most other applications have designed their workflow around hospitals/ clinics, whereas we designed our process around life-long patient engagement workflow (LPEW). The competition we see are from different stacks like Doxper (prescription focus), Doctalk (chat-based connect) and Practo - doctor search engine and appointment booking, extending in multiple stacks inorganically,” added Pulkit Raturi CMO and Co-founder of MEngage.
According to the YourStory 2017 Startup Funding Report, a total funding of $161 million was pumped into the healthcare sector via 98 deals in 2016. Whereas, the sector received a total of $463 million in funding across 81 deals in 2017.