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Karma Primary Healthcare raises $1.3 Mn in Series A

EntrackrEntrackr · 11m ago
Karma Primary Healthcare raises $1.3 Mn in Series A
Medial

Digital healthcare startup Karma Primary Healthcare has secured Rs 11 crore (nearly $1.3 million) in Series A funding round led by UBS Optimus Foundation along with participation from 1Crowd and other investors. The company had previously raised $1.69 million from Ennovent, Ankur Capital, Innospark, Grand Challenges Canada and others. The capital will be deployed to enhance its technological capabilities and expand the team as it builds-out a patient-centric care model for rural patients, Karma stated in a press release. Co-founded in 2014 by Jagdeep Singh Gambhir, Gagandeep Singh Gambhir, and Manjeet Singh Gambhir, Karma Healthcare develops an online platform for primary health services remotely. It offers tech-enabled remote patient monitoring services for rural villages and rural health clinics in villages. The platform also offers remote consultation with a doctor for multiple diseases. The clinic staffs a community health worker, who records vital parameters, facilitates a video consultation between the patient and a physician, prints the e-prescription emailed by the doctor, and provides free of cost medicines. The Hyderabad-based company claims that it enables access to primary healthcare across 8 states in India through its assisted telemedicine model, witnessed a threefold increase in its patient base over the last three years, impacting more than 350,000 lives, with 55% of them being women. Karma aims to reach 100 locations serving over 150,000 patients annually by 2027. The company says that it is shifting from a transaction-based care model to a patient-centered, value-based care model. For the fiscal year ending in March 2023, Karma Primary Healthcare’s revenue decreased by 7.5% to Rs 4.79 crore from Rs 5.18 crore in FY22. The company’s losses increased to Rs 3.21 crore in FY23 from a profit of Rs 10.20 lakh in the previous fiscal year. It competes with players like DocOnline and Practo, among others.

OTP Ventures leads $2.4 Mn round in Zeelab Pharmacy

EntrackrEntrackr · 5m ago
OTP Ventures leads $2.4 Mn round in Zeelab Pharmacy
Medial

Omni-channel healthcare brand Zeelab Pharmacy has raised $2.4 million in its maiden funding round led by OTP Ventures. The fresh funds will be utilized for expansion, focusing on augmenting its retail footprint and enhancing delivery capabilities, Zeelab said in a press release. Launched in 2019 by Rohit Mukul, Zeelab Pharmacy is a pharmacy company that sells affordable, high-quality generic medicines and other products. It aims to provide access to essential healthcare, make quality healthcare affordable for all in India, and empower the Indian pharmaceutical industry. Zeelab has also recently appointed Bollywood actor Randeep Hooda as its brand ambassador. It intends to provide medicines at 90% lower cost to patients, aiming to create an India where every citizen has access to medicines at their true price. Zeelab Pharmacy claims that it has an impressive network of over 225 stores and processes more than 1,500 orders daily. Zeelab plans to accelerate its growth initiatives, prioritizing the expansion of its retail network, the development of 60-minute delivery capabilities across metro and non-metro cities, and cementing its position as a leader in the Indian healthcare sector.

Healthcare platform Raaz App raises $1 Mn led by Fireside Ventures

EntrackrEntrackr · 5m ago
Healthcare platform Raaz App raises $1 Mn led by Fireside Ventures
Medial

Healthcare platform Raaz App has raised $1 million in a funding round led by early-stage venture fund Fireside Ventures. The round also witnessed participation from Campus Fund, Altaf Saiyed, Better Capital founder Vaibhav Domkundwar, and others. The proceeds will be used to enhance the platform, expand its services and reach, invest in clinical trials, develop tech-enabled treatment protocols, and run awareness campaigns, Raaz App said in a press release. Co-founded in 2023 by Akash Kumar and Harshit Kukreja, Raaz App is a healthcare platform that offers reproductive health services for men. The company aims to provide access to quality information and treatment for men's reproductive health issues. The platform offers evidence-based treatment programs and provides consultancy services. According to the Bengaluru-based startup, it offers personalized, evidence-based treatment plans for conditions such as erectile dysfunction and premature ejaculation. The full-stack platform provides doctor-led teleconsultations, medicines, diagnostics, counseling, and lifestyle guidance. Raaz says that each patient is assigned a doctor and a personal health concierge who monitors their progress. The platform primarily serves tier II and tier III cities, with a focus on providing treatment in local languages. It is also building a data engine that contains anonymized case histories of many patients, analyzing which interventions were most effective in each case. It also examines the different variables in each case and identifies lifestyle habits. Raaz aims to onboard 50,000 users by next year and will partner with diagnostic providers to develop new treatment protocols. Going forward, it will explore the fertility sector while also expanding into new regions.

International Women's Day 2024: How Kinara Capital is empowering women in MSMEs

LivemintLivemint · 1y ago
International Women's Day 2024: How Kinara Capital is empowering women in MSMEs
Medial

Hardika Shah, CEO of Kinara Capital, believes that there is a need for women-oriented loan products in the Micro, Small and Medium Enterprises (MSME) sector in India, where women ownership stands at almost 20%. Kinara Capital, an NBFC, is contributing to the growth of women-owned MSMEs by providing unsecured business loans. Their HerVikas program has disbursed over ₹700 crore in discounted collateral-free loans, leading to job creation and income generation. Shah advocates for unsecured loans to ensure financial inclusion for women entrepreneurs. Kinara Capital also focuses on challenging the male-dominated fintech industry and promoting gender inclusivity within their company.

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