Indian Healthcare Startup Practo Raised $55 Million

Indian startups have been performing great in the global market due to efficient business models and vast business opportunities in India. Specifically, the health startups are at their highest peak.

Indian healthcare startup Practo raised $55 Million of series D funding that will be used for the expansion in the emerging markets.

The investment round was led by China’s Internet giant Tencet, who also led the series C funding for Practo in 2015. Other backers include new and existing investors such as RSI Fund (Japan), Ru-Net (Russia), Thrive Capital (US), Sofina, Altimeter Capital, and Capital G.

Practo is a medical service-based startup that helps the users to locate the desired doctors and delivers medical information.

In India, access to medical professionals is comparatively low than other nations. As per the calculation, the country has only 0.7 physicians per 1000 people with excluding the majority of the rural areas. Moreover, Practo is now also running its double-sided product by selling SAAS model-based practice management software to the healthcare facilities.

The company claims that it books 45 Million appointments per year and has a tie up with 10,000 hospitals and 5,000 diagnostic centers. Practo now not only has the active operation in pan India but has also expanded it reach till Philippines, Indonesia, Brazil, and Singapore.

And the company now aims to achieve some success in bigger markets including Latin America, Africa, and the Middle East.

The company expects to open up healthcare service opportunities as the field has loads of potential to grow.

Vaibhav Bhosale undertook the post of Content Writer at Medical Device News in November 2016, following a 1.2-year of experience as an Project Lead; Instructional Writer at eNyota Learning Pvt. Ltd. His immense interest in reading brought him in this field. He can be reached at vaibhav@medicaldevicenews.net