[Funding alert] MyHealthcare raises $3 M from Sixth Sense Ventures
The funding was part of MyHealthcare's ongoing Series A round. The startup will be using the freshly raised funds for expansion.Debolina Biswas
Healthcare technology platform MyHealthcare has raised $3 million from Mumbai-based fund management company Sixth Sense Ventures. According to the RoC filings accessed by YourStory, this funding is a part of the startup's ongoing Series A round.
The startup had earlier raised $2 million in the same round from Hunch Ventures and angel investor Ajay Nanavati, taking the total funding amount to $5 million. MyHealthcare will be using the freshly raised funds to expand across Southeast Asia.
Nikhil Vora, Founder & CEO of Sixth Sense Ventures said:
“MyHealthcare fits well into the Sixth Sense investment thesis – a large untapped opportunity, first-gen entrepreneurs and a business catering to the consumer of tomorrow. With MyHealthcare improving commercials for hospitals/healthcare providers, enhancing customer experience and at the same time running on a transaction oriented sustainable business model, it is best positioned to capture the large opportunity and create value.”
Founded by Shyatto Raha, Aneesh Nair, and Divya Laroyia, MyHealthcare is owned by Gurugram-based InnoCirc Ventures. The platform is a technology partner with hospitals, diagnostic labs, and health clinics to provide patient facing services and improve patient care.
Shyatto said, “We are excited to have Sixth Sense join us on the MyHealthcare journey. More than the investment, Nikhil, Swati and the team at Sixth Sense bring with them a great wealth of experience in working with founders to build valuable businesses. We look forward to working together in building out a formidable healthcare offering for India and South East Asia.”
Fortis Group of Hospitals is among its major customers, along with players like Cygnus Hospitals and PH Siloam Hospitals (Myanmar).
The platform helps record patient's medical history electronically, and is made available to doctors, emergency paramedics, and caregivers. The app allows hospitals to monitor patients round the clock and intervene whenever required.
On pressing the 'panic button' on the app, hospitals get to dispatch an ambulance immediately to the patients, thus allowing appropriate intervention.
MyHealthCare app uses Machine Learning (ML) to compare a patient's current vital parameters with their past history to do predictive analysis and alert them. The last time we wrote about them, MyHealthCare was operating across India and was expanding its services to Malaysia, Indonesia and Myanmar.
Client Associates Investment Banking (CAIB), acted as the exclusive financial advisor to the transaction.
Consumer-centric venture fund Sixth Sense Ventures has previously made six investments, including in Eupheus Learning, SaffronStays, Fullife Healthcare, AVG Logistics, SMAAASH, and Grab.
[Update: The story was updated on April 22, with additional quotes from the founder and investor]