LabsAdvisor raises Rs1.2 crore from foreign and Indian investors

The start-up has received funding in an angel round of investment for expansion and better technology

New Delhi: Delhi-based Supath Healthcare Services Pvt. Ltd, which owns and operates online marketplace for diagnostic labs LabsAdvisor, has raised 1.2 crore in an angel round of funding from a group of Indian and international investors for expansion and better technology.

The company declined to disclose the names of the investors but said they were wealthy individuals working in companies like Barclays Capital, Credit Suisse, Deutsche Bank and Strategy.

Founded in February 2015, the start-up offers diagnostic test-booking and online report storage services to its users.

An in-house pathologist visits labs and rates them before they are taken on the marketplace. It currently has 50 labs on board across Delhi. It plans to expand across NCR and other cities soon.

Bookings can be made through the website or by calling on the helpline number.

According to the company, large corporate labs cover less than 20% of the market and the remaining market comprises of smaller, individual or regional, players. “Our offering is much needed in the unorganised Indian diagnostics space," said Ashish Bhatia, founder and chief executive officer.

Practo, another start-up in the healthcare space, raised $90 million earlier this month from a clutch of investors led by China’s Tencent.