[Funding alert] Ex-Foodpanda CEO’s startup Meddo raises $3M led by SRI Capital
Gurugram-based healthcare platform, Meddo, on Tuesday, raised $3 million as a part of its Pre-Series A round led by SRI Capital, with participation from growX Ventures, LetsVenture, Jitendra Gupta (Co-founder Citrus Pay), and Venture Gurukool, among others.
Speaking on the funding, Saurabh Kochhar, Co-founder, Meddo said,
“Our vision is to fundamentally change how healthcare is delivered in our country; starting with the largest and most unorganised segment, outpatient care. We have seen unprecedented growth within the last seven months that we have been operational, and this funding helps us further that growth and invest in the right team and technology.”
Founded in June 2018 by Saurabh Kochhar, Co-founder and former CEO of Foodpanda and Printvenue, and Dr Naveen Nishchal, Co-founder of Cygnus Hospitals, Meddo functions in offline and online space. It works through standalone doctor establishments with the central objective of bringing together all healthcare needs for patients onto a single platform.
The startup’s solution helps in facilitating in-house diagnostic services. In addition to this, the platform also enables the doctors' clinics to offer additional services including home collection of blood samples.
Shweta Singh, Principal, SRI Capital said,
“Meddo is addressing a fundamental gap in India's healthcare ecosystem by bringing doctor run clinics on to its platform and standardising service levels to provide patients with an offering they can trust. We are confident in Saurabh and Dr Nishchal's ability to execute and create a healthcare offering that Doctors, patients and healthcare providers love.”
Jitendra Gupta, Co-founder, Citrus Pay, who was also one of the early investors in Meddo, added, “I invested in Meddo very early on, as I believed in Saurabh and Dr Naveen’s vision and their demonstrated capability to execute. I have been thoroughly impressed with their incredible growth numbers over the last six months”
Meddo works closely with all dominant NABL accredited diagnostic lab partners across the city. It works with 250 trained peri clinical staff for in-clinic and at-home sample collection and claims to have served more than 150,000 customers so far.
Manu Rikhye, Partner, growX Ventures said,
“Health is one of the most technologically underpenetrated and sectors in India with its peculiar challenges. We believe Meddo’s unique approach of aggregating standalone establishments using technology to bring in convenience, quality and excellence in the standards of care has great potential to overcome those challenges”
At present, it has over 400 doctors and 200 clinics and is currently operational in Delhi NCR.
(Edited by Saheli Sen Gupta)