Bengaluru-based online medical consultation platform DocsApp has raised $7.2 Mn in Series A funding from Bessemer Venture Partners and Japanese investment firms Techmatrix Corporation and DeNa Networks.
The round also saw the participation of existing backers, including Facebook’s early investors Anand Rajaraman and Venky Harinarayanan, and Japanese VC firm Rebright Partners. Bengaluru-headquartered boutique investment bank Masterkey served as the sole financial advisor of the transaction.
Commenting on the development, Bessemer Venture Partners MD Vishal Gupta said, “DocsApp has dramatically altered the patient and doctor experience in more ways than one—the platform on-boards only specialist doctors who are then connected with patients in under 30 minutes. The platform goes a step further in understanding the patient’s condition and, accordingly, connecting with the right doctor.”
According to sources, the newly-secured capital will go into product development, talent acquisition and expansion of its operational reach. A portion of the financing will also be spent on strengthening its technological solutions and onboarding more doctors on its platform.
Rebright Partners Founding General Partner Takeshi Ebihara stated, “In the era of digital transformation, the healthcare sector is poised for major transformation and we believe DocsApp is the leading company achieving this by enabling healthcare accessibility for people across India in a phenomenally innovative way.”
How DocsApp Is Bridging The Gap Between Patients And Doctors In Rural India
Owned and operated by Phasorz Technologies, DocsApp is the brainchild of IIT Madras Alumni Satish Kannan and Enbasekar D. Founded in 2015, DocsApp is an online doctor consultation app that connects doctors to the patients in real time. The app allows patients to chat with the doctors, share pictures and reports of the ailment privately, without any geographical constraints.