DocsApp and MediBuddy announce merger, joint entity raises $20M in Series B funding
Bengaluru-based online doctor consultation startup DocsApp has announced merger with MediBuddy, a digital consumer health business for enterprises.
Combining their respective strengths, the joint entity named "MediBuddy DocsApp" will continue to focus on enabling healthcare services like online specialist doctor consultations, lab tests, preventive health checks, delivery of medicines, etc to customers across India.
Together, the combined entity will cater to the healthcare needs of over three crore Indians, with a partner network of over 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres, and 2,500 pharmacies covering over 95 percent of all pin codes in India.
Satish Kannan, CEO of the merged entity, said,
“This combined entity will offer a comprehensive platform to our customers that delivers on the promise of a digital healthcare future. As first-movers, we are confident that we will establish market leadership and fulfil our mission to provide quality healthcare to every Indian.”
Satish Gidugu, CEO, Medi Assist, added,
“We are excited to join forces and set a bold new vision for the digital healthcare ecosystem in India. Combining the capabilities of DocsApp and MediBuddy will deliver an on-demand healthcare platform providing exceptional customer experience for both enterprise and retail users.”
The joint entity also raised a $20 million (Rs 150 crore) Series B round of funding led by Bessemer Venture Partners, Fusian Capital, Mitsui Sumitomo, and Beyond Next Ventures. Existing investors including Milliways Ventures and Rebright Partners also participated in this round.
The joint entity said it will utilise the funding in further strengthening its doctor base, patient reach, product, and technology to move a step closer to its mission of providing high-quality healthcare to a billion people.
Vishal Gupta, MD, Bessemer Venture Partners, shared,
“As a result of its targeted solutions and exceptional metrics, DocsApp has achieved a leadership position. We are pleased to be a part of this growth journey and believe that the merger with MediBuddy is the boost it requires to provide quality healthcare to all.”
Edited by Kanishk Singh
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