Digital health startup Mykare Health raises $2.01M in seed round

According to a statement by the company, the funding will be deployed towards elevating the overall patient experience and bolstering talent acquisition efforts.

Digital health startup Mykare Health raises $2.01M in seed round

Thursday June 15, 2023,

3 min Read

Kochi-based digital health startup Mykare Healthhas raised $2.01 million in a seed round. The round saw participation from renowned investors such as OnDeck ODX - US, Avaana Seed, Huddle, Endurance Capital, F Health, VeritasX, Stanford Angels, Phoenix Angels, Ajit Mohan (Founding CEO, Hotstar & Former MD, Meta India), Nitish Mittersain (Joint Managing Director, Nazara Technologies), Hari TN (Ex-BigBasket), Arjun Vaidya (Founder, Dr. Vaidya’s), Sean (Hyunil) Sohn (CEO, Krafton), Niraj Karia , Ankit Tandon (Global CBO and CEO, OYO), Nikhil Jaisinghani (Executive Director, Polycab India), Dr Deepu Sebin (Ex-CEO & Founder, DailyRounds), Vikas Garg (Ex-CFO, Paytm), Rahul Nagar (Ex-VP, Paytm), Himanshu Arora (Ex Gaana), and Bhavya Shah - MD, Ark Impact, amongst others.

The company said it plans to deploy the funding towards elevating the overall patient experience and bolstering talent acquisition efforts.

Founded in 2021 by Senu Sam, Rahmatulla TM, and Joash Philipose, Mykare Health is a digital health startup that is building asset-light, affordable, and standardised hospital network focused on delivering quality healthcare experience to India's middle-class segment.

“Factors such as dearth of administrative and pricing transparency, skyrocketing healthcare cost, poor patient to hospital ratio, and paucity of quality care are the key reasons causing surgery related fear among patients, resulting in treatment delays and poor quality of life. We aim to mitigate these challenges through a patient-first approach," said Senu Sam, CEO & Co-founder, Mykare Health.

investment funding
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"We are committed to serve every common, middle class person in India and cross-border with seamless experience, affordable and quality care. In addition, we are also empowering the small and mid-sized hospitals to improve their visibility and trust, with an aim to strengthen their patient footfalls. Through adequate support, these hospitals can significantly reduce India’s uneven patient to hospital ratio,” he added.

The startup plans to double down on the cities of South India in 2023, with a vision to ensure the low and middle income groups of the country get better experience and transparency in healthcare.

“Given its purpose-led proposition for the middle income segment, as well as small and medium-sized hospitals, we hold a strong belief in its growth potential. By prioritising quality, accessibility and transparency, Mykare Health is not only poised to penetrate the length and breadth of India but also make an impact on a global level,” added Sanil Sachar, Founding Partner, Huddle.

In the last one year, Mykare Health has treated over 85,000 patients and has become operational in 12+ Indian cities with 200+ hospital tie-ups.

It has also been recognised as TiE Kerala Best Startup of the Year, SLP Best Startup of the Year, Headstart 23 startups to watch, KMA Best Startup of the Year, Inc42 Best Startup To Watch, Naturals Best Startup and Business Connect Best Startup, 2023. The founder, Senu Sam, is the recipient of the Times 40 Under 40 Award.

(The story was updated to add the name of Ajit Mohan (Founding CEO, Hotstar & Former MD, Meta India) in the investors' list)

Edited by Megha Reddy