[Funding alert] Healthtech startup ConnectedH raises $2.3M in seed round from Kalaari Capital and Incubate Fund India
Health-tech startup, a one stop solution for diagnostics centers has raised $2.3 million in seed round led by Kalaari Capital and Incubate Fund India. The funding round also saw participation from Anicut Capital and other angel investors like Kunal Shah (Cred), Gaurav Munjal & Roman Saini (Unacademy), Farid Ahsan (Sharechat), Asish Mohapatra & Ruchi Kalra (OfBusiness), Mars Shot Ventures and others. Existing investors First Cheque and Point One Capital also participated in the round. ConnectedH plans to utilize the fresh funds to expand their product portfolio, invest in technology and expand its presence in Delhi/NCR Region.
According to an official statement, ConnectedH plans to utilise the fresh funds to expand their product portfolio, invest in technology and expand its presence in Delhi/NCR Region.
Founded in 2018 by IIT Kanpur Alumni - Shubham Gupta, Rahul Kumar and Suresh Singh (IIM Bangalore Alumni), ConnectedH is a full stack enabler for diagnostic centres helping them focus on testing while taking care of all other aspects. The startup provides solutions like CRM, Online Reports and On-Demand Phlebotomists to the diagnostics partners helping them extend their options along with online booking and online reports.
Speaking on the investment, the founders stated,
“We’re happy to partner with Kalaari Capital and Incubate Fund India in our journey. Diagnostics sector has been insulated from all the tech advancements over the past decade. However, with growing competition and increasing patient expectations, there is an organic shift to adopt tech solutions. We grew 10X over the past year and this round will help us accelerate our efforts to create a technology-driven platform for diagnostics.”
Kiran Vasireddy, Partner at Kalaari Capital added,
“We are strong believers in ConnectedH's vision to build a full stack platform for diagnostic labs in India. The diagnostics industry in India is a $10B highly fragmented market with only a few organized players. ConnectedH is providing all the relevant tools to help the small and medium diagnostic labs go digital. We are very impressed with the deep understanding of founders on challenges of the diagnostics industry and excited to partner with them in building ConnectedH”
“Since it is fragmented and not digitized, the operation of diagnostic centers have been very inefficient in India. ConnectedH is solving this issue by empowering diagnostic centers with technology implementation. It is beneficial both for diagnostic centers and patients. Founders have shown a strong execution capability in this complicated industry so we believe the startup will grow rapidly with creating a huge positive impact to the industry,” added Nao Murakami, Partner at Incubate Fund India.
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