iCliniq in talks to raise Rs25 crore from private equity investors
iCliniq plans to use the proceeds to fund an acquisition and invest in artificial intelligence technology
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Coimbatore-based online doctor consultation platform iCliniq.com said it is in talks with private equity investors to raise around Rs25 crore to fund an acquisition and invest in artificial intelligence technology to help doctors answer patients’ queries faster.
“We have identified an online medical content company that sells health insurance and has a third-party administrator (TPA) licence,” said Dhruv Suyamprakasam, founder and chief executive officer of iCliniq.
“We expect this acquisition to help iCliniq to grow manifold,” Suyamprakasam said.
He said the company has appointed an investment banker, and expects to complete the fund-raising by March next year.
So far, iCliniq has received funds from Madhan Kumar Madathupalayam, a leading Coimbatore-based surgical gastroenterologist and angel investor, who invested around Rs4 crore in the company.
Started in 2012 with an investment of Rs10 lakh by 28 year-old Suyamprakasam, iCliniq has a user base of 1,500 doctors in over 80 specialties and caters to 145,000 patients.