Telemedicine platform oriented startup Doctor Insta has raised $2.5 Mn (about INR 17 Cr) in a funding round led by RoundGlass Partners. Existing investor, US-based VC firm BrahmaX Ventures, also participated in the round.
The raised funds will be divested by the company to market their two new products – Health ATM and Insta Wall. A portion of funds would also be used for product development, expansion of its team, and launch of omni-channel healthcare networks across India and other countries.
Gurugram-based Doctor Insta started its operations in 2015 by Amit Munjal as a “Video-Medicine” platform that provides online consultation in general medicine, pediatrics, psychology and nutrition. The startup aims to bridge the consultation gap between doctors and patients, through a digital channel. Through the video, the users can be audio-visually connected to the specialists and get treatment advice specialties within 15-30 minutes.
Talking about the funding, Amit Munjal, founder and Director, Doctor Insta said, “India is a huge potential market wherein the size of the healthcare industry is $126 Bn and the total addressable market is $25 Bn. We have been growing in high double digits month over month and are planning to penetrate deep into the urban and rural areas of the country.”
Doctor Insta claims that it has a rigorous selection process for the doctors, which are selected to connect with the users on platform. These doctors are acclaimed to be educated and trained at the finest medical colleges & hospitals in the country, and are highly rated by peers and patients alike. The startup provides medical consultations across its web and mobile platforms, for customers looking for advice, including in general medicine, psychology, sexology, dermatology and gynaecology, amongst others.
As per a report by ET, the startup also plans to set up over 500 medical consultancy kiosks, or IoT-enabled health ATMs, along with over 1,000 Health Pillars, across India’s eight major metros, particularly in public areas having high footfalls.
Earlier in 2015, it raised $500 K in pre series A funding from angel investor Rishi Parti and BrahmaX Ventures.
With digitisation upscaling the market, various healthcare platforms are offering app-based healthcare to masses. The domain is shoved with players like Practo, Medikoe, Cure, DocPlexus, Pluss, MeraDoctor, Portea and many more.