Bengaluru-based healthtech startup Idea Bubbles has secured $700K (INR 4.5 Cr) in equity financing from 1Crowd, a crowdfunding ecosystem for startups, Eureka Forbes Ltd, and Shapoorji Pallonji & Co. Ltd.
The funding will be used to scale its operations on doctor-patient and doctor-pharma networks.
Founded in 2014 by Gururaj Potnis, Idea Bubbles aims to monetise doctors’ time. It offers a Eureka Forbes Good Health’ (EFGH) platform that enables doctors to offer their patients teleconsultation services including digitised medical records and plugins connecting them with other healthcare providers.
Gururaj Potnis, CEO, Idea Bubbles said, “Our vision is to tie-in the ‘doctor to patient’ and ‘industry to doctor’ loops seamlessly to deliver an integrated healthcare ecosystem. The strength of the Eureka Forbes brand and access to the largest field force of 8,000+ Eureka Forbes sales team in India is what makes us stand apart in consumer recall and trust.”
As per an official statement, the company has 12,000 patients and 600 doctors on its platform and has already completed 1,000+ transactions.
Commenting on the investment, Anup Kuruvilla, co-founder, 1Crowd said, “We were swift to spot the disruptive potential in Idea Bubbles’ business model and Gururaj’s vision, coupled with the proportion of the healthcare market that continues to be underserved in the Indian context. Moreover, this collaborative effort stands out in the light of our partnership with Eureka Forbes in addition to Idea Bubbles, and the three of us are together aligned to create a healthcare enterprise with pan India presence.”
In August 2016, healthcare analytics startup Tricog raised Series A funding from Blume Ventures, Inventus Capital Partners, and others. In September 2016, Cureinstant, a social health networking website, raised $150K (INR 1 Cr) in Seed funding from Dr. Rameshwar Kumar. In the same month, app-based network for doctors, DailyRounds secured an undisclosed amount of funding led by Accel Partners.
Other competitors in the healthtech space include Practo, Curofy, and Portea among others.
