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Unitus Seed Fund backed pediatric primary healthcare network, AddressHealth, has raised $1.5 Mn (INR 10 Cr) in Series A funding led by Gray Matters Capital, along with its existing investor Unitus participating in the round.
Unitus Capital acted as the financial advisor to this transaction while K Law was the legal advisor.
Bangalore-based AddressHealth was started in 2010 by Anand Lakshman and Anoop Radhakrishnan. The startup was started with a vision to provide basic pediatric nutrition to children. It is a pediatric primary healthcare network, providing comprehensive care for children through its chain of clinics and school health programs. It aims to reach at least 1.5 Mn children by 2020. It presently claims to have reached more than 1 lakh children through on-site services and screening programs.
Anand Lakshman, co-founder and CEO of AddressHealth, said, “The funding allows us to expand the reach of our unique model of healthcare, which leverages schools, to deliver comprehensive primary healthcare to children proactively, at a low cost.”
The startup claims that it is currently serving 30,000+ children in South Bangalore through coordinated, comprehensive clinic-based care (pediatric medical home). By leveraging partnerships with schools, AddressHealth is aiming to reduce costs associated with retail healthcare.
There have been a couple of startups that provide consultation on pediatrics healthcare on their platforms like DoctorInsta and JustDoc. However, AddressHealth is an exclusive platform for children’s healthcare. The startup has tied up with various schools, pre-schools and residential groups providing School Health Programs. It also runs various Child Health Clinics in Bangalore. The startup had raised $333K in its Pre-Series A round from Unitus Seed Fund, in 2014.
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