Kerala-based BestDoc raises pre-Series A capital from Accel, others

By Narinder Kapur

  • 23 Sep 2020

BestDoc Technology Pvt Ltd, a software-as-a-service firm focussed on patient relationship management, has raised Rs 16 crore ($2.2 million) in funding.

In a statement, the Ernakulam, Kerala-based startup said it has raised this pre-Series A capital from major venture capital firms including Accel and Bengaluru-based Arkam Ventures. Existing investor SEA Fund also participated in this exercise.

BestDoc was set up by Afsal Salu, Fayaz Bin Abdu and Soudabi Neduvanchery in 2016. Its platform, which began as a marketplace for doctor appointments, pivoted to a business-to-business model to tap the potential in the digital healthcare space.

BestDoc’s products help hospitals save staffing costs and improve operational efficiency, Salu said, adding that the firm has scaled up its telemedicine and contactless care solutions in the pandemic.

The firm will use the capital it has raised to expand its presence across the country and develop products to improve in-patient admission and hospitalisation experiences. 

The firm is also supported by the Kerala Startup Mission (KSUM), which is a government agency focussed on entrepreneurship and incubation in the state.

“Kerala startups have been successful in raising funds even during the times of Covid-19. It shows the quality of startups emerging from Kerala and the confidence of investors in them,” KSUM chief executive Sasi PM said.

BestDoc says it has partnered with over 120 healthcare providers in the country since 2018, including Bengaluru’s Apollo Hospitals, Mumbai’s Dr LH Hiranandani Hospital, the Aster Group, KIMS Global Group, and Kozhikode’s Baby Memorial Hospital.

It is among several startups in the health-tech segment to receive funding in recent months, with the pandemic shining an even brighter spotlight on companies in this space.

Earlier this month, Dozee raised Rs 12.5 crore (around $1.7 million) from firms including Prime Venture Partners, YourNest Venture Capital, and 3one4 Capital. The company’s platform allows people to monitor the elderly as well as any chronic conditions.

Also this month, the diagnostics-focussed startup ConnectedH raised seed funding from a clutch of investors including First Cheque, Sprout Investments and pre-seed and seed-focussed venture firm PointOne Capital.

In July, VCCircle exclusively reported that marquee venture firm Sequoia had invested in a startup founded by former executives of Manipal Health Enterprises and Amazon. Before that, in June, Mumbai Angels Network invested Rs 1.75 crore (around $230,732) in Crimson Healthcare Pvt Ltd, focussed on ostomy care.

Share article on