Mumbai-based Zoctr, a healthcare aggregator platform, has raised an undisclosed amount of funding from ad-for-equity media investor Times Group under its innovative Brand Capital Incubator Funding Model that provides funding for long-term brand building and advertising needs of growth oriented companies against equity participation.
Founded in January 2015, by Nidhi Saxena, Zoctr, allows users to buy health-related services and home-based wellness packages online through its website and app- iZoctr. It aims to address key health issues viz. lack of continuity, accessibility and quality care for post discharge patients. The company currently has operations in Mumbai, Delhi, Kolkata, Pune and Ahmedabad.
The company plans to use the funds for print, medianet and radio ads to create brand awareness. It further plans to touch 500,000+ Indians in the next 5 years and expand its health operations to 18 cities in the next few years. The company also aims to raise $10 Mn in Series A funding in the next six months.
Shrenik M. Khasgiwala, Director, Brand Capital said, “ Zoctr is a unique and disruptive home healthcare aggregator concept with large untapped potential. I believe, with the right customer acquisition model and the media tools to support it, Zoctr can gain a lot of visibility in the market and help them to find the right place in the consumer’s life.”
Prior to this, Zoctr raised around $1 Mn from Sandeep Parwal and Krishan Gupta last year. It faces stiff competition from other healthcare startups like Pathdoor, eKincare, HealthIndya, Lybrate, Ziffi and Qikwell that offer similar services. Earlier this month, another healthcare startup, Care24, raised $4 Mn in a series A round of funding led by SAIF Partners and existing investor India Quotient.
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