Health-tech startup PlusPin Healthcare has raised Rs 5.25 crore ($708,720) in its seed round of funding from a clutch of investors of the Indian Angel Network (IAN) including former Google India head Rajan Anandan, who had joined Sequoia Capital as managing director earlier this year.
Other IAN investors who participated in the investment round include Sanjay Jesrani, Vinay Tulla and Kiran Peddi, the IAN said in a statement.
Institutional investors such as Munjal Group and early-stage investment firm Axilor Ventures contributed to the funding, it added. Existing investors including Ambicare Clinics also invested in this round.
PlusPin Healthcare, which is operated by Weeclu Solutions Pvt. Ltd, will use the fresh capital for geographical expansion, upgrading technology and enhancing customer experience.
The company was started in September 2017 by Gopal Krishna Panigrahy and Santosh Kumar Panda. It is a digital platform for retail pharmacy stores to enable them to offer customers personalized healthcare services including diagnostics and healthcare at home. The startup also aims to establish itself as a platform for brands to pilot, launch and promote their products or services.
PlusPin Healthcare has over 200 pharmacies in Hyderabad and more than 70 healthcare providers on its platform.
Prior to founding Pluspin, Panigrahy was an engineering program manager at US-based global interactive entertainment software company Electronic Arts. He was earlier associated with Accenture and Tata Consultancy Services. Panda was a program manager at Microsoft before embarking on this entrepreneurial journey. He earlier worked with companies such as Nokia and Motorola.
The IAN is one of the most active angel networks in India. It has invested in more than 110 startups including Druva Software, Sapience Analytics, SP Robotics, FarEye and Unboxd Ltd.
Last week, some of its prominent angel investors along with its IAN Fund backed waterless robotic cleaning solution provider Nocca Robotics Pvt. Ltd.
Its other investments this year include intra-city logistics aggregator Cogos, cataloguing startup Flatpebble, local discovery and e-commerce platform Little Black Book and data analytics firm Clootrack.