TMT
By
Venture Catalysts invests in health-tech startup WonDRx
Photo Credit: 123RF.com

WonDRx, a startup that seeks to bridge the gap between patients and healthcare providers through a data-driven approach, has raised an undisclosed sum of money from startup incubator and accelerator Venture Catalysts as part of its seed funding round.

WonDRx, operated by VVP Healthcare Evolution Pvt. Ltd, said it aims to fully digitise the prescription writing and transaction process through the use of its technological platform.

WonDRx founder Pankaj Sindhu said the company was looking to become a credible organisation in the integrated healthcare space by 2024, while at the same time establishing an impactful healthcare platform.

“WonDRx has great potential and we hope this association will help them build the fastest-growing health-tech organisation in India,” Venture Catalysts founder Apoorv Ranjan Sharma said.

Mumbai-based WonDRx says its platform will offer three integrated applications – WonDRx Doctor App, WonDRx Consumer App, and WonDRx Provider app – that will help create a holistic, technologically-driven service ecosystem.

Venture Catalysts

The firm was set up in December 2015 by Sharma, Anuj Golecha, Anil Jain and Gaurav Jain. It usually invests between $250,000 and $1 million in early-stage startups.

In August, it floated a fund, the 9Unicorns Fund, with a corpus of Rs 300 crore ($43.44 million) to help early-stage Indian startups expand their business. The fund will typically invest Rs 60 lakh for a 5% stake in a startup, and may put in additional Rs 3-5 crore in subsequent funding rounds depending on a company’s ability to meet its growth objectives.

Last month, it took part in a $500,000 (around Rs 3.55 crore) seed funding round in online dermatology solutions provider Remedico. Other investors that participated in the round included US-based Parkview Investment Advisors, Vida Ventures and angel investors such as Hotstar product vice-president Anshumani Ruddra and Rohini Pandhi of mobile payments company Square.

In July, Venture Catalysts invested Rs 4 crore (around $580,260) in Pariksha, a startup which helps aspirants prepare for government exams in their regional languages. It also put an undisclosed sum in Vested, an investment platform enabling Indian investors to invest in the US stock market.

In April, snacks and sweets brand Haldiram’s invested an undisclosed sum in Venture Catalysts to facilitate more investments in the packaged foods segment.

Leave Your Comment(s)