[Funding alert] Healthtech startup Doxper raises $4M as part of Series A led by Alkemi Venture Partners
InformDS Technologies Pvt. Ltd., the company behind healthtech startup Doxper, on Wednesday announced that it had raised $4 million in the first close of its Series A round led by healthcare-focused fund Alkemi Venture Partners. The round also saw participation from Rainforest Venture Network, existing investor growX Ventures, and some marquee angel investors.
In a statement, the Mumbai-based company said it planned to use the funds to double down on its growth in India, expanding geographically across the country. Further investments in technology and R&D are planned to improve the accuracy of the ML/AI-powered handwriting recognition engine and to develop products in business and clinical analytics.
Shailesh Prithani, Co-Founder & CEO, said,
“Doxper today is the country’s fastest growing solution of choice for digitisation of healthcare. With increasing competition, patient empowerment, and several converging standards and regulations such as the Personal Data Protection Bill, the National Digital Health Blueprint and stricter data compliance in the amendment to the Clinical Establishments Act, digitising patient records has evolved very rapidly from a ‘good to have’ to a ‘must have’. We are thrilled to have Alkemi Venture Partners lead our Series A round, along with several top-notch investors.”
The Doxper Founders will use the funds to develop products and expand across India.
Doxper, founded in 2015 by IIT alumni Pawan Jain, Randeep Singh and Shailesh Prithani, is an ML/AI-powered data capture solution that allows doctors to instantly digitise their case sheets using a digital pen and encoded paper. The solution can be fully integrated with any existing EMR systems.
Doxper currently serves nearly 1600 independent clinics and 20 hospitals. The company is processing close to 500,000 case sheets every month and has so far digitised case sheets of over 3.25 million unique patients, with a total of nearly five million records.
“The biggest obstacle to data digitisation is workflow change expected on behalf of stakeholders. The Doxper solution is simple and unique, making compliance easier. We are very excited to partner and support Doxper to fuel their growth in this sector,” an Alkemi spokesperson said.
In April 2018, Doxper secured $1.1 million in pre-Series A funding led by Vidal Healthcare, who earlier invested $750,000 in the company in a seed round along with growX Ventures, Capier Investments, and Globevestor among others.