Healthtech Startup Eka Care Raises $15 Mn

SUMMARY

The funding round was led by Hummingbird Ventures

The round also saw participation from 3one4Capital, Mirae Assets, Verlinvest, Aditya Birla Ventures, Binny Bansal and Rohit MA

Using the Eka Care app, users can create their digital health profiles by storing medical records

Healthtech startup Eka Care has raised $15 Mn in Series A funding round led by Hummingbird Ventures. The round also saw participation from 3one4Capital, Mirae Assets, Verlinvest, Aditya Birla Ventures, Binny Bansal, Rohit MA and other investors.

The startup plans to use the fresh capital for product development, hiring, educating consumers on the benefits of maintaining a health profile and helping doctors move to digital practice.

Started in December 2020, Eka Care was founded by Vikalp Sahni and Deepak Tuli. Abhishek Begerhotta joined them as an advisor later.

With the Eka Care app, users can create their digital health profiles by storing medical records such as prescriptions, lab and scan reports, vaccination and development milestones for children, heart rate trends, blood sugar information, among others.

On the other hand, Eka Care’s full stack clinic management platform for doctors helps scaling their online presence, create a digital diary, write digital prescriptions and communicate with their patients digitally.

According to Vikalp Sahni, founder and CEO of Eka Care, the startup wants to build a technology backbone to create and manage a health profile for every Indian.

In 2021 January, Eka Care raised seed funding of $4.5 Mn from angel and early-stage investors, as well as early stage venture capital funds.

“Our clinic management tool is compliant with both NMC and NDHM guidelines, it helps reduce time in writing prescriptions, compliance, improving the online presence and overall income of the doctors,” Deepak Tuli, cofounder and COO of Eka Care, said.

The startup said it is also approved by Ayushman Bharat Digital Mission (ABDM) to facilitate the creation of the ABHA card.

In the last two years, healthtech has emerged as one of the most prominent sectors in the digital economy. Medikabazaar, Orange Health, LeapFrog, are some of the healthtech startups that have raised money in the past few months.

In 2021, four healthtech startups– Innovaccer, PharmEasy, Curefit and Pristyn Care became unicorns while the sector received $2.2 Bn funding across 131 deals.

However, as the funding winter has affected the startup ecosystem in India, healthtech startups have raised around $700 Mn in H1 2022, as compared to $800 Mn in H1 2021, according to an Inc42 report.