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InnoCirc-Backed MyHealthcare Raises $2Mn Series A Funding, To Invest In AI, ML

InnoCirc-Backed MyHealthcare Raises $2Mn Series A Funding, To Invest In AI, ML

Delhi-based Hunch Ventures and Angel Investor Ajay Nanavati led the latest round of funding

MyHealthcare will invest the funds in developing its AI and ML technologies in the next phase

The startup aims to provide an efficient data-driven healthcare delivery mechanism

Gurugram-based healthtech startup MyHealthcare has raised $2 Mn in a Series A funding round led by Delhi-based Hunch Ventures and angel investor Ajay Nanavati. The startup has built a mobile-based healthcare application that connects patients with doctors, hospitals, and offers services such as outpatient therapy, physician, and pharmacy services.

Shyatto Raha, founder and director of InnoCirc Ventures, said, “In the next phase we are working towards the use of AI (artificial intelligence) and ML (machine learning) for predictive analysis for assisting caregivers in the diagnosis process.”

MyHealthcare is operated by Gurugram-based InnoCirc Ventures. The mobile-based platform aims to provide information on the benefits of healthcare to users by engaging with their healthcare needs and records, along with providing emergency services, video consultation, health monitoring, etc.

According to Raha, MyHealthcare works in consultation with its network of hospitals. Currently available in India, the startup is looking to take the platform to Malaysia, Indonesia, and Myanmar. The platform has added private healthcare providers such as Fortis Group of Hospitals, Cygnus Hospitals, PH Siloam Hospitals in Myanmar), on its client’s list, according to its statement. 

Its latest investor, Hunch Ventures, has previously led funding for legaltech startup SpotDraf and online marketplace startup vClusive, among others. The private VC firm is founded by Karanpal Singh, founder and managing director of Hunch Ventures.

MyHealthcare: Solving The Post-IPD Challenge

MyHealthcare aims at bridging the availability gap of doctors, specialists, and fulfil the demand for healthcare givers. “We believe this gap can be bridged with data-driven healthcare solutions by transitioning the care process from paper to digital form,” Raha said.

Another investor, Ajay Nanavati, was cited in the statement as saying, “The challenge of post-IPD (indoor patient department) patient care, given the pressures on hospitalisation, needs a robust, data-driven delivery mechanism, which MyHealthcare offers.”

MyHealthcare is operated by digital healthcare company and VC firm InnoCirc. It was founded by Shyatto Raha, Aneesh Nair, and Divya Laroyia. The company specialises in creating digital strategies, digital roadmaps for brands and organisations, along with designing and developing mobile-based applications across healthcare, education, retail, media.

The healthtech sector in India is buzzing with activity. Just this week, two Bengaluru-based startups raised capital. SaaS platform HealthPlix raised $3 Mn in a Series A round from IDG Ventures and Kalaari Capital while AI-based HealthSignz raised $5 Mn in a Pre-series A funding round led by New Zealand-based Nirvana Health Group founder, Dr Kantilal Patel.

Recently, Mumbai-based healthtech startup Clinivantage Healthcare Technologies raised $1 Mn from US-based investor group Metaform Ventures LLC.

Meanwhile, armed with new funds, MyHealthcare looks ready to diversify its offerings and cater to a wider audience in this growing market.