Indian Start-up DocsApp Raises $1.2M Funding from Facebook’s Early Investors and Rebright Partners
DocsApp, leaders in the Online Doctor Consultation space has now announced a seed investment of $1.2 million in funding by Facebook’s Angel Investors Anand Rajaraman - Venky Harinarayan and Japanese Venture Capital firm Rebright Partners.
Founded in 2015 by IIT Madras Alumni, DocsApp is a mobile medical consultation platform in the country which provides quality consultation for patients with fastest turnaround time of 30mins. DocsApp has been designed to give the best experience to patients with complete privacy. Patients can chat with the doctor and also share pictures and reports of the ailment with the doctors privately. DocsApp aims to utilize the funding to develop and expand their scale of operations, recruit talent and continue breaking barriers through technology in the medical space thereby excelling at user experience.
Talking about the gap in the Online Primary Healthcare space in India, Satish Kannan, Co-Founder & CEO, DocsApp said, “With close to 200 million smartphone users and with the increasing percentage of mobile network penetration into rural areas, Mobile phones have become the key medium of communication across the country. Taking advantage of this widespread network, our aim is to provide high quality primary healthcare services to people across India through our mobile application. It’s estimated that up to 70% of the commonest health issues people face can be managed online. The patient doesn't need to travel to have a medical consultation. We want to bridge the gap between patients and doctors through this platform so that people can get expert consultation on demand. We believe that this will also help us take specialised care downstream to more remote areas across the country. “
In India, currently around 4 billion transactions happen in the healthcare sector every year. The entire healthcare market in India is worth around $80 billion; however the online market is estimated to grow to around $42 billion in the coming years. . Within a year, majority of DocsApp users have come from major cities like Bangalore, Delhi-NCR, Mumbai, Chennai & Hyderabad. With over 80,000 users, more than 15,000 patients take consultation using DocsApp every month. DocsApp has a pool of 500 top notch doctors in the country who are available to connect with the patients for consultations.
“This sector has a huge potential and providing quality healthcare services will be the key to success. The quality part is of utmost importance and has to be looked at carefully. We make sure that the empanelment of doctors is carried out through a strict 3-step verification process vetted by in-house specialist doctor, thereby providing a reliable service to our customers.” said Enbasekar, Co-Founder, DocsApp.
Speaking about the $1.2 million investment in DocsApp, Facebook’s early investors Anand Rajaraman & Venky Harinarayan said, “The DocsApp team has created an amazing app that combines whiz bang technology with specialist doctors to enable speedy doctor consultations and great patient outcomes. This app will revolutionize primary healthcare in India!”
The investment round was led by Rebright Partners and Mr. Takeshi Ebihara, Founding General Partner of Rebright Partners said, “The team has a great understanding of the healthcare space and it is a scalable business model that can service millions of patients across India and South-East Asia.”
Founded by IIT Madras Alumni Satish Kannan & Enbasekar Dinadayalane at the IIT Madras Research Park, in 2015, DocsApp, a Bangalore based health-tech start-up has grown to a team of 36 members from leading colleges such as IIT, BITS and CMC Vellore. The app currently supports 9 specialities: Gynaecology, Psychiatry, Dermatology, Paediatrics, Weight Management, Sexology, Gastroenterology, General Medicine and Hair & Scalp care.
