Online medical advice startup MediAngels raises $1M from Ventureast
Mumbai-based Angels Health Pvt Ltd, which runs MediAngels.com, an online platform that allows patients to consult specialised doctors from across the globe, has raised $1 million (over Rs 6 crore) in funding from Ventureast Tenet Fund and Government of India's Technology Development Board. The funds will be used to expand the firm’s sales team to get more insurers and corporate clients, as well as to provide voice-based consultation.
"It is very tough to have all expert doctors under one roof. We found that the startup is solving a very compelling pain point,” said Sateesh Andra, managing partner of Ventureast.
The startup was founded in 2011 by Dr Debraj Shome, who had previously headed the department of facial plastic surgery at Apollo Hospitals and Tata Memorial Hospital, along with paediatric urologist Arbinder Singal, with a seed round of Rs 2.4 crore from HDFC Holdings.
MediAngels provides services including online and video consultation, online medical record keeping and online ordering of pharmaceuticals. The firm claims that its platform has listed over 300 specialist doctors from 15 countries currently. It has also set up strategic partnership with over 21,000 diagnostic centres across India. The company charges Rs 250 per query and Rs 1,500 for video consultation.
The firm claims that to date, it has treated 8,000 patients, of which around 1 per cent is outside India.
This is Ventureast’s third investment in tech healthcare space. Previously, it had invested in OneBreath, a startup that develops portable and rechargeable ventilators, and SmartRx that helps communication between doctor and patients after they are discharged.
(Edited by Joby Puthuparampil Johnson)
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Ventureast Tenet Fund I is a $10 million fund managed by Ventureast Fund Advisors India Ltd. It provides seed and early stage capital to companies operating in India. The fund seeks to invest in telecom and technology sectors. It invests through equity and equity-related securities in its portfolio companies.