HealthPlix Technologies raises $22M in Series C funding round
HealthPlix Technologies will use this capital to ramp up its technology stack and acquire more users for its digital platform. It aims to have more than 25,000 doctors on its platform by 2024.
Bengaluru-headquarteredTechnologies has raised $22 million in a Series C funding round led by Avataar Venture Partners and SIG Venture Capital.
The round also saw participation from its existing investors, including Lightspeed Venture Partners, JSW Ventures, Kalaari Capital, Chiratae Ventures and Blacksoil Capital. HealthPlix has cumulatively raised about $20 million in venture funding.
The healthtech startup, founded in 2014, provides a digital technology platform to the doctor's community to give them ready access to their patient's health records for better outcomes.
HealthPlix will use this fresh capital to ramp up its technology stack and acquire more users for its digital platform. The startup has over 10,000 doctors on its platform, and it aims to take this number to more than 25,000 by 2024.
Co-founder and CEO Sandeep Gudibanda said, “At HealthPlix, our vision is to drive better health outcomes at the population level. Today, we serve 2.5% of the entire Indian population. With these new funds, we aim to cater to 200-250 million more patient lives in an 18-month time frame.”
Its core target customers are individual doctors' clinics, small nursing homes, and polyclinics. Further, only 4% of these doctors rely on electronic health records, giving the startup wide room for future growth.
Gudibanda believes it is important to drive healthcare outcomes at the primary healthcare centre, and HealthPlix's technology platform will enable doctors to make accurate diagnoses, given the availability of all the required information.
Its digital platform is present in more than 370 cities in India, delivering over 100,000 consultations per day. HealthPlix's software suite also provides specialised services for various chronic diseases.
Speaking on the investment, Mohan Kumar, Investment Advisor to Avataar Venture Partners, said, “HealthPlix approach of using doctors as the focal point and delivering value to other stakeholders like patients, pharma brands, pharmacies, and diagnostic labs is unique and differentiated. We have seen many business models that have failed to scale in the healthtech ecosystem, and we believe that Sandeep has built a great team to deliver on HealthPlix promise.”
Edited by Suman Singh