Healthtech startup ConnectedH has raised $2.3 Mn in a seed round led by Kalaari capital and Incubate Fund India.
The Gurugram-based healthtech startup also saw participation from angel investors such as Kunal Shah of CRED, Roman Saini of Unacademy, Farid Ahsan of Sharechat, and Ashish Mohapatra and Ruchi Kalra of newly-turned unicorn Ofbusiness.
The startup plans to utilise the fresh infusion of capital to expand its product portfolio, invest in technology and expand its presence in the Delhi/NCR region.
Founded in 2018 by three Subham Gupta, Rahul Kumar, and Suresh Singh, the B2B healthtech startup offers CRM solutions, online report management tools and other services for diagnostic centres and labs. ConnectedH is a full-stack enabler for diagnostic centres helping them focus on testing while taking care of all other aspects.
The B2B healthcare startup helps its clients which are mostly diagnostic centres and labs to build their websites. The startup further helps its clients with digital marketing solutions including CRM, social media, and Campaign management. The startup had earlier raised $227K from First Cheque, Point One Capital, Rohit MA of Cloud Nine Hospitals, and other angel investors.
Apart from marketing, the startup also wants to support its clients’ operations with feedback management, online report management and on-demand phlebotomist services. At present, the startup is serving 43 clients and claims to have served more than 1.6 Mn patients since its inception.
According to Nao Murakami, partner at Incubate Fund India, the country’s diagnostic sector is highly fragmented in nature which means that diagnostics centres operate inefficiently.
Restricted movements, social distancing and the increased awareness about health caused due to the ongoing pandemic have given tailwinds to the Indian healthtech industry, which is poised to be worth $21 Bn by 2025. As per an Inc42 Plus report, healthtech startups in the sector have received a total of about $1.5 Bn between 2014 and 2020.
The market is expected to grow at 39.6% CAGR during 2020-2025. In the third quarter of 2021, over 36 deals have been reported by Indian healthtech startups. In 2021, we have seen the entry of two Indian startups in the unicorn club i.e. Innovaccer and PharmEasy.
Unlike healthtech startups like Practo, Medlife and Mfine, ConnectedH mostly operates in the B2B space providing technical solutions to diagnostic centres. Even its on-demand phlebotomist feature is offered as a service to its diagnostic partners.