Bengaluru-based online health portal Docttocare has raised Rs 4 crore (approximately $567,830 at current exchange rates) in a seed funding from Krishnakumar Devnally, founder and director of human resources firm M-Power Solutions.
The startup will use the capital to improve its user experience and to market its services to potential customers, it said in a statement on Tuesday.
Docttocare founder and chief executive officer Sugandha Agarwal said the company would help people get access to healthcare regardless of their location. “Quality healthcare is restricted to people dwelling in large metros or cities,” she said.
Run by Doctto Online Healthcare Innovation Pvt. Ltd, the startup was founded in 2016. It claims to have facilitated more than 50,000 appointments through its platform and aims to process 20 lakh appointments by December 2020. The company helps customers identify doctors and hospitals and also schedules appointments and arranges transport for patients if necessary.
Deals in the space
The online healthcare sector has seen heightened deal activity recently.
On Tuesday, venture debt firm InnoVen Capital invested $1.7 million (approximately Rs 12 crore at current exchange rates) in online medical consultation startup DocsApp.
Early this month, health and fitness startup Cure Fit Healthcare Pvt. Ltd, founded by Myntra co-founder Mukesh Bansal and former Flipkart executive Ankit Nagori, raised $75 million (Rs 520 crore) in its Series D round of funding led by venture capital firm Accel.
Last month, venture capital firm Sixth Sense Ventures struck its maiden deal in the health-tech space by investing $3 million (Rs 21 crore) in digitally integrated technology platform MyHealthcare.
In the same month, digital healthcare platform Digilooks secured angel funding from a number of investors including a private equity executive.
The month also saw Japan-based M3 Inc. acquire a majority stake in DailyRounds, a community-based platform for doctors and medical students.
In March, online pharmacy NetMeds acquired health-tech startup KiViHealth in a cash-and-stock transaction.