Maatri, a digital health platform, has raised $300,000 (Rs 2.21 crore) in its first external round of funding, founder Amit Singal told VCCircle.
The startup secured the money from two high-net-worth individuals, said Singal, who is also the company’s CEO.
Singal didn’t disclose the identities of the HNIs, saying only that they come from a non-healthcare background but have invested in several startups before. This is their first investment in the healthcare space, he said.
Maatri, operated by Nexus HealthTech Pvt. Ltd, will use the funds for brand building, upgrading its product and strengthening its marketing and technology teams.
Singal said that the thought process behind Maatri is to enable a mother and a would-be mother to manage her and her family’s health at her fingertips.
“We see tremendous opportunity as a company intends to bridge the gap in this growing market with more than two crore children born every year,” he added.
The startup has more than 1,200 customers as well as 24 doctors and clinics on its panel. It is targeting to have 40,000 customers and over 80 doctors on its panel by the end of March next year.
Maatri was founded last year by Singal and Amit Vyas, who is chief technology officer at the company.
Vyas has over 21 years of industry experience having previously worked in companies such as HCL.
Singal is a graduate of the National Institute of Technology, Kurukshetra, and an alumnus of the Indian School of Business. Prior to launching Maatri, Singal founded an IT services firm called Sainergie Consultants Pvt. Ltd in 2014. Previously, he was the IT head at VE Commercial Vehicles Pvt. Ltd, a joint venture of Eicher Group and Volvo.
Maatri is one of a growing number of health-tech ventures to attract investor attention this year, with the coronavirus pandemic shining an even brighter spotlight on companies in this segment.
According to a VCCircle survey, health-tech is the most preferred sub-domain for venture capitalists this year.
Last week, Kerala-based BestDoc raised pre-Series A capital from Accel and other investors.
Earlier this month, Dozee secured Rs 12.5 crore from investors including Prime Venture Partners, YourNest Venture Capital and 3one4 Capital; and the diagnostics-focussed startup ConnectedH raised seed funding from a clutch of investors.
In July, VCCircle exclusively reported that marquee venture firm Sequoia Capital had invested in a startup founded by former executives of Manipal Health Enterprises and Amazon; and SAIF Partners backed a New Delhi-based healthcare services platform.