[Funding alert] Ratan Tata invests in healthtech startup iKure
iKure plans to scale its operations across India and globally, and provide healthcare services to over 10 million people in the next five years.
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Kolkata based healthtech startup has raised an undisclosed amount of funding from Ratan Tata, Chairman Emeritus of the Tata Group.
Ratan Tata stated that iKure's services are similar to what he believes to be the need of the country at the moment.
According to a statement issued by iKure, the startup plans to rapidly scale its operations across India and globally. It is looking to provide healthcare services to over 10 million people in the next five years.
iKure has raised $1.5 million so far, from investors in India, US, Singapore and Japan. The startup is also in talks to raise $5 million in its Series A round, details of which iKure refused to share.
Founder and CEO Sujay Santra said, "The funds will be used in strengthening the healthcare solutions at iKure."
Founded in 2010, iKure delivers primary healthcare, wellness and prevention services to rural, semi-urban and urban population through its hubs-and-spokes clinic model.
The startup meets rural healthcare and prevention needs through a combination of health outreach initiative, skills development and technology intervention. It focuses on delivering primary healthcare by addressing challenges of accessibility, affordability, availability and awareness.
"We are extremely pleased to have been considered by Ratan Tata for an investment. This is a huge honour and encouragement for us," Sujay added.
Mr. Ratan Naval Tata, Chairman Emeritus of Tata Sons and Chairman of the Tata Trusts.
Earlier last year, the startup raised an undisclosed amount of funding from Inflection Point Ventures (IPV).
So far, iKure has provided primary healthcare services to over 1.1 million people across seven Indian states. Its platform is also available in several African countries.
It also provides training to community health workers equipped with point-of-case (POC) devices, enabling them to provide door-step monitoring and diagnostic support.
Industrialist Ratan Tata has invested in over two dozen startups across the country. In a recent conversation with Founder and CEO Shradha Sharma, Ratan Tata had said that investing in startups has been a learning experience for him.
"I have not brought any magic with me. I have chosen to support enterprises that seemed to attract me from a founder's position on what the company is trying to do," Ratan Tata said during the exclusive conversation.
Edited by Saheli Sen Gupta