Healthtech Startup Mykare Bags Funding To Offer Enhanced Patient Care Experience

Healthtech startup Mykare Health has raised $2.01 Mn seed funding from a clutch of investors including OnDeck ODX – US, Avaana Seed, Huddle, Endurance Capital, F Health, Stanford Angels and Phoenix Angels. 

Further, angel investors including Ajit Mohan (former MD, Meta India), Nitish Mittersain (joint MD, Nazara Technologies), Hari TN (ex-BigBasket), Arjun Vaidya (founder, Dr. Vaidya’s), Sean (Hyunil) Sohn (CEO, Krafton), Niraj Karia, Ankit Tandon (global CBO and CEO, OYO), Nikhil Jaisinghani (executive director, Polycab India) among others were also part of the investment deal.

The startup stated that the freshly raised capital will be deployed towards elevating the overall patient experience and bolstering talent acquisition efforts.

Mykare operates as an integrated website that connects patients with hospitals and takes care of the end-to-end treatment chain from patient pick up to payment.

Founded in 2021 by Senu Sam, Rahmatulla TM, and Joash Philipose, Mykare aims to build an asset-light, affordable and standardised hospital network focussed on delivering healthcare services to the middle class families.

According to the startup, it aims to offer complete price transparency, zero-cost financing options, logistics, insurance and administrative support — solving the problem of information, accessibility and financing in the industry.

The startup claims to have served 85000+ patients and has become operational in 12+ Indian cities with 200+ hospital tie-ups. 

Currently, Mykare has its base across the Tier-I cities of the country but in one year, the founder aims to expand it across the Tier-II cities. 

Sharing thoughts on the overall patient-care situation in India, Sam said, “Factors such as dearth of administrative and pricing transparency, skyrocketing healthcare cost, poor patient to hospital ratio, and paucity of quality care, are the key reasons causing surgery related fear amongst patients, resulting in treatment delays and poor quality of life.” 

He further added that Mykare aims to mitigate these challenges through a patient-first approach. 

In the healthtech segment, HealthifyMe recently raised $30 Mn in its Pre-Series D funding round to strengthen its AI capabilities, hiring, and global expansion.

In March, Bengaluru-based healthtech SaaS startup HealthPlix raised $22 Mn to grow its doctor base and invest more in sales, product and engineering teams. 

Overall, the Indian tech startups raised a substantial $3 Bn in Q1 2023, which is consistent with the $3 Bn range recorded in the previous two quarters (Q4 & Q3 2022).