[Funding alert] Healthtech startup Meddo raises $3M in its extended Pre-Series A round
Gurugram-based healthtech startup Meddo has raised $3 million in its extended Pre-Series A round led by Picus Capital and SRI capital. With this deal, the startup has now raised a total of $6 million as a part of this round.
Prior to this, in September 2019, the startup had 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 about the fundraise, Saurabh Kochhar, Founder and CEO of Meddo said that the fund will be deployed for expanding Meddo’s footprint across the country and launch MeddoSure membership plan.
“There are three key areas where we will be investing in - a) Increasing presence and national footprint - both with more clinics in the NCR region and expansion to other cities, b) Launch of the MeddoSure membership, which is one of a kind omni-channel unlimited care membership plan, and c) Further improving our technology stack to provide seamless quality care and lead integrations with the Bharat Health Stack through NDHM,” Saurabh said in a statement.
Apart from this, the startup also claims to have recorded 2.5X growth in its revenues in 2020 as opposed to 2019.
The startup was launched in 2018 by Saurabh, former Foodpanda CEO, and Dr Naveen Nishchal, Co-founder of Cygnus Hospitals, with an aim to organise the ambulatory services sector in India. Meddo is aimed at transforming the way healthcare is provided in our country, starting with out-patient care.
Meddo has partnered with clinics to upgrade them into full-service health centres by providing one-stop care to all the patients and digitally enabling the entire healthcare ecosystem using in-house technology and systems.
Currently, Meddo claims to serve almost six lakh patients and has on-boarded over 350 doctors from various super specialities. The startup has till date re-branded close to 200 clinics across Delhi/NCR.
According to the startup, it is currently working towards expanding its services in the top 10 cities within the next 18 months.
Edited by Megha Reddy