Credihealth raises $1.5 mn in pre-Series A round

Gurgaon-based Credihealth Pvt. Ltd, an online medical assistance company, said on Monday it has raised $1.5 million (Rs 10 crore) in a pre-Series A funding round.

The healthcare startup secured the investment from Tolaram Inc., the family office investment arm of Tolaram Group, and Mountain Pine Capital.

Bala Swaminathan, a former partner at consulting firm KPMG and one of the earliest investors in the platform, also took part in this round, the startup said in a statement.

The startup aims to use the money to augment technology and infrastructure to expand services and introduce new products.

Credihealth claimed that it has achieved break even and has been maintaining a positive cash flow from an early stage.

“More than money, it is innovation and steady growth that are needed to survive in the market today,” said Ravi Virmani, founder and managing director of Credihealth.

Credihealth was started in 2013 by Virmani, Gaurav Gaggar, Saurabh Uboweja and Piush Kumar.

Virmani is the founding managing director of Hewitt Associates India and former COO of Max Healthcare. Gaggar is an investment banker and earlier co-founded two e-gaming ventures. Uboweja, an alumnus of IIM Calcutta, also runs brand consulting and design firm Brands of Desire. Kumar runs investment firm Hausela, which funds digital technology startups.

The company provides domestic and international patients with information on Indian healthcare providers. It aims to solve the patients’ problem of looking for the right doctor or diagnostic centre, besides being an additional sales channel for hospitals. The startup also fixes patient follow-ups with the doctor. The company has tie-ups with 630 hospitals such as Fortis, Medanta, Columbia Asia, Paras and Artemis.

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