IPO-bound Policybazaar parent’s healthtech subsidiary Docprime has invested $7.5 Mn in telehealth and wellness startup Visit Health.
Docprime is a subsidiary of PB Fintech which also operates Policybazaar and Paisabazaar.
Founded in 2016 by BITS Pilani students Anurag Prasad, Vaibhav Singh, Shashvat Tripathi and Chetan Anand, the Gurugram-based Visit Health’s AI-enabled platform enables corporate employees to manage their healthcare needs through a mobile application.
Visit Health had earlier raised funds from Twitter cofounder Biz Stone. The startup’s “Visit Assistant” helps users check symptoms, track fitness activity and nutrition, and manage chronic conditions.
Docprime’s Policybazaar is an online aggregator and marketplace for insurance policies, while Paisabazaar is a comparison platform and marketplace for all banking products. The IPO-bound Policybazaar had received a fresh infusion of funds from parent company PB Fintech last week. In one of our recent stories, we have decoded the fintech juggernaut in detail. Click here to read.
Policybazaar’s parent had ventured into the healthtech space with the launch of Docprime in 2018. Docprime connects patients with doctors in real time and bridges the gap between need and fulfillment using technology and offline networks. Besides providing teleconsultation by an in-house team of health experts, it also facilitates the booking of doctor appointments and lab tests.
Docprime also acts as an agent, facilitator, collaborator, distributor, representative in all types and grades of healthcare products, personal care products, lifestyle products, beauty products, wellness products, pharmaceuticals and related products.
“With this investment, we plan to grow our platform and network capabilities and expand our teams across technology, sales, and network functions,” said Anurag Prasad, CEO, Visit.
According to Inc42 Plus, the Indian healthtech market is expected to be worth $21.3 Bn in 2025, growing at a CAGR of 39.6%, with the biggest contributor being telemedicine. With more than 133 funded healthtech startups in the country, the top 5 eHealth startups had a combined revenue of $138 Mn in FY19.