Practo, currently the largest doctor search engine in Asia has raised $30 Mn funding in fresh round of funding from Sequoia Capital and Matrix Partners. This is its second institutional fund raise.
The investment is been regarded as one of the largest investments into digital health globally till date. Practo plans to accelerate its rapid growth by expanding to 35 cities in India and more than 6 countries internationally within a span of 12 months. The company also plans acquisitions and strategic partnerships to grow the team.
Practo has seen a trend where over 1 Mn users are using Practo search to book around 120,000 appointments. The Practo Search volume witnesses a 10 fold growth in past one year.
On the occasion Avnish Bajaj, co-Founder and Managing Director, Matrix India said, “Practo is revolutionizing healthcare by enabling consumers to find the best doctors, book instant appointments and make better health decisions. It is our privilege to work with Shashank ND and Abhinav Lal, the co-founders of Practo, to scale and bring Practo to millions of consumers around the globe.”
Founded by Shashank ND and Abhinav Lal in 2008, Practo is a Bangalore-based growth stage startup, Practo is on mission is to help improve human longevity by simplifying healthcare. Practo aims at improving human longevity by simplifying healthcare. We will help hundreds of millions of consumers around the world find the best doctors and make better healthcare decisions. Over the last six years, the duo have persisted and managed to create a highly respected product company from India.
Practo had first raised INR 25 Cr (~$5 Mn) from Sequoia Capital in 2011.
Earlier in February to bridge supply-demand gap for healthcare services in India, a group of healthcare entities, including Manipal Hospitals, Narayana Health, Pfizer and investorUnitus Seed Fund had started a programme known as StartHealth to provide up to INR 10 Cr. in grants to early stage health tech startups working towards affordable technology-driven healthcare products and services for low-income masses.