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Medical tourism company Global Care raises $3 Mn

EntrackrEntrackr · 1y ago
Medical tourism company Global Care raises $3 Mn
Medial

Non-hospital medical tourism company Global Care has raised $3 million in Series A funding round led by 35North India Discovery Fund – II. The funds will be used to build clinical excellence through strategic consulting and facilitating convenient access to patient care, Global Care said in a press release. Launched in 2016 by Rajeev Taneja, Global Care offers cutting-edge medical care across specialties in India, Turkey, Dubai, Egypt, Germany, and Thailand. It aims to bridge healthcare divides worldwide. The company intends to expand healthcare services internationally and create a global ecosystem of clinical services as healthcare consultants covering aspects like building clinical corridors while supporting patients who cannot be treated in their home country. According to Global Care, it will focus on Eastern Africa, Francophone Africa, the Middle East, Central Asia, SAARC nations, South-East Asia, as well as the Middle East, and North Africa for its expansion. India Discovery Fund – II has backed companies like SpeedLabs (Teevra Edutech), Nukleus Office Solutions, Cloud Tailor, Stupa Analytics, Big Bang Boom Solutions, Aatwri Aerospace and Defence, HomePecked, and Beshak.

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Lifetime Health raises $1.5 Mn in seed round

EntrackrEntrackr · 1y ago
Lifetime Health raises $1.5 Mn in seed round
Medial

Lifetime Health, a digital platform for at-home care, has secured $1.5 million in a seed round led by US-based venture capital firm The Garage Syndicate along with participation from other angel investors. The company had previously raised $900,000 in its last round from an existing investor. The fresh proceeds will be deployed towards further development, Lifetime Health said in a press release. Co-founded in 2023 by Konstantin Riabtsev, Michail Vorobiev and Nabil Ahmed, Lifetime Health is a digital platform for hospital-at-home care providing phlebotomy services, diagnostic tools, medical devices, nursing care, physiotherapy, and postoperative care all in one app. Its automated platform ensures fast, high-quality, and affordable service, from the client’s order to the nurse’s departure and results processing. Lifetime Health is currently operating in Bengaluru and its partner network includes 200 local clinics. It aims to reach major Indian cities and connect over 10,000 medical offices nationwide. intends to enable medical service orders at home for residents across Bangalore and its suburbs, and expand to Mumbai. The platform expects to have 1,000 doctors registered on the platform, with at least 300 of them becoming active users who can schedule appointments online, make appointments and recommendations, and maintain patient histories in digital format. The other startups in this space are Caresathome, CASAMED, Muse Diagnostic, Care24-India, and others.

TVM Capital raises $250 mn for Saudi-focused healthcare fund

VCCircleVCCircle · 1y ago
TVM Capital raises $250 mn for Saudi-focused healthcare fund
Medial

Healthcare private equity firm TVM Capital Healthcare has raised approximately $250 million for its Afiyah Fund, which focuses on investing in Saudi Arabia's healthcare sector. The fund attracted investments from Saudi Arabian, Gulf Cooperation Council, and European investors, with Jada, Saudi Arabia's Public Investment Fund's (PIF) fund of funds company, leading the group. TVM Capital expects to mobilize a total of $400 million to $500 million for investments in Saudi Arabian and international companies with expansion projects in the kingdom. The fund's initial investments include Baraya Extended Care, a post-acute care and rehabilitation clinics chain in Riyadh, and DEBx Medical, an Amsterdam-based wound care company entering the Saudi market.

RapidClaims raises $11 Mn led by Accel

EntrackrEntrackr · 6m ago
RapidClaims raises $11 Mn led by Accel
Medial

RapidClaims, a brand that helps hospitals and doctors get paid faster, has raised $11 million to grow its business. The funding includes $8 million in a new round led by Accel and $3 million from earlier investors like Together Fund and top names in healthcare. The proceeds will be used to hire more people and make its product better. RapidClaims uses artificial intelligence (AI) to prevent billing mistakes that often lead to payment delays. Its tools help medical staff code procedures correctly, fix missing information, and catch errors before sending bills to insurance companies. This helps hospitals avoid claim denials and save money, cutting costs by up to 70%. The platform already works across 25 medical specialties and connects easily with over 15 hospital record systems. According to the company, it’s quick to set up, with most hospitals starting in just a few weeks. Unlike older systems that need lots of data, RapidClaims can customize quickly using just a few examples.

Exclusive: IPO-bound Portea Medical raises $20 Mn via right issue

EntrackrEntrackr · 1y ago
Exclusive: IPO-bound Portea Medical raises $20 Mn via right issue
Medial

Home healthcare solution provider Portea Medical has raised around $20 million via rights issue. The capital raise comes amid its efforts to launch an initial public offering (IPO). The board at Portea has passed a special resolution to issue 69,206,452 Series D1 compulsory convertible preference shares (CCPS) at an issue price of Rs 23.96 per share, aggregating to Rs 165.8 crore or around $20 million to the equity shareholders of the company on a rights issue basis, the company’s regulatory filings with the Registrar of Companies show. It’s worth noting that Portea received a go-ahead signal from the SEBI to float a Rs 1,000 crore IPO in April last year. The Vaibhav Tewari-led company had filed a draft red herring prospectus (DRHP) in June 2022. Decade-old Portea provides services such as mother and child care, consultation for nutrition and diet, physiotherapy, nursing, lab tests, counseling, and elder care. It also offers a lab sample collection facility and medical equipment for sale or on hire. As per Portea’s website, the company has provided services to over 1 million patients and conducts 700,000 patient visits annually. Additionally, it has established partnerships with 63 leading hospitals. Portea’s revenue from operations declined 3.3% to Rs 145 crore in FY23 from Rs 150 crore in FY22, according to startup data intelligence platform TheKredible. The shrinking scale and fixed overheads led the firm to register a Rs 53 crore loss during FY23 against Rs 40 crore loss in the previous fiscal. It is yet to file audited financial statements for FY24. Portea will be the third company which has raised funding in 2024 after filing a DRHP. Earlier this month, Ola Electric raised $50 million in debt from EvolutionX whereas MobiKwik raised debt from Blacksoil in March. MobiKwik and Ola Electric filed their DRHP in December and January, respectively.

Men’s sexual health brand Bold Care raises $5 Mn

EntrackrEntrackr · 7m ago
Men’s sexual health brand Bold Care raises $5 Mn
Medial

Men’s sexual health and wellness brand Bold Care has raised $5 million in a funding round co-led by Nithin Kamath’s Rainmatter, CaratLane co-founder Mithun and Siddhartha Sacheti, the Dhanani family, AVT Group, along with participation from Gruhas Collective Consumer Fund and NB Ventures. Entrackr exclusively reported on the deal in December. The proceeds will be used to strengthen research and development (R&D), scale the brand’s digital presence, and develop sexual health solutions for both men and women, Bold Care said in a press release. Co-founded in 2020 by Rajat Jadhav, Rahul Krishnan, Harsh Singh, Mohit Yadav, and actor Ranveer Singh, Bold Care provides solutions for issues such as premature ejaculation (PE) and erectile dysfunction (ED). It also offers condoms and lubricants and claims to have fulfilled over 30 lakh (3 million) orders so far. Bold Care has recently expanded into the women’s wellness sector with the launch of Bloom, offering solutions for women’s health concerns, including sexual health, personal hygiene, menopause, menstrual care, and pregnancy. The Mumbai-based startup currently sells its products through its own website, as well as on e-commerce platforms like Amazon, Flipkart, Myntra, and Meesho. It is also available on quick commerce platforms. According to market research, sexual health issues affect approximately 90-95 million men in India. For the fiscal year ending March 2024 (FY24), Bold Care’s revenue from operations increased by 6.67% to Rs 32.9 crore from Rs 30.90 crore in FY23. However, the company also reported a 21.46% increase in losses to Rs 19.3 crore in the last fiscal year. Bold Care competes with other D2C sexual and wellness brands, including Man Matters, Kindly, Sukham, Kapiva, and Sassiest, among others.

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