BackHealthPlix raises $3 million from Kalaari, IDG Ventures
HealthPlix plans to utilize the capital to build on its AI (artificial intelligence) technology and enter other medical specialties
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New Delhi: Health-tech start-up HealthPlix Technologies Pvt. Ltd has raised $3 million in a Series A funding round led by IDG Ventures India and Kalaari Capital.
The company had earlier raised $0.5 million in three rounds of angel investments in 2017 and 2015, said Sandeep Gudibanda, co-founder and chief executive officer at HealthPlix over the phone.
HealthPlix’s software solution provides doctors electronic medical records (EMR) for patients and helps provide personalized consultation based on a patient’s medical history. HealthPlix plans to utilize the capital to build on its AI (artificial intelligence) technology and enter other medical specialties. It currently focuses on chronic segments such as endocrinology, diabetology, cardiology, nephrology, oncology and internal medicine, among others.
“India has a very low doctor to patient ratio and would need to quadruple the number of doctors in the next 10 years to serve the growing population. Since it is impossible to quadruple, the next best thing is to improve the productivity and efficiency of doctors. The HealthPlix team has been able to leverage their deep domain expertise in their AI-driven EMR, which significantly enhances doctor efficiency leading to better patient health outcomes," said Mandar Dandekar, principal at Kalaari Capital in a statement.
“We plan to strengthen our AI technology and build the clinical decision support (CDS) system further. We also plan to expand to other medical specialties including gynaecology and neurology… " said Gudibanda.
HealthPlix, which is present across 150 cities, claims to have 2.2 lakh unique patients every month.
While it currently focuses on out-patient clinics, small hospitals (100 patient beds) and OPDs, it is planning to integrate with bigger hospital services. The tech-based chronic disease industry is around $1 billion currently and is expected to grow at a compounded annual growth rate of 21 percent, according to Gudibanda.
Founded in 2015 by Gudibanda, Raghuraj Sunder Raju, and Prasad Basavaraj, Bengaluru-based HealthPlix has 42 employees and aims to grow to 200 employees in the next 18 months.
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