According to an official statement, the clutch of investors will have close to 25% stake in LetsMD, post-investment.
The funding will be used to develop its technology. It will also be used to expand the team and marketing.
Launched in 2015 by Nivesh Khandelwal, LetsMD is an online platform that allows users to discover and compare the costs and offerings of various medical procedures offered by healthcare networks and hospitals.
Nivesh Khandelwal, founder, LestMD said, “LetsMD will enable accessibility and affordability of tertiary level healthcare in India. We believe CAN, with its large and diverse network of investors, will play key role in enabling relationship acquisition for LetsMD.
As per an official statement, it has partnered with 300 hospitals and single-speciality chains in Delhi NCR.
Talking about the investment, Siddharth Pansari, President, CAN said: “LetsMD is in the process of creating a platform by bringing together all the players of the healthcare ecosystem to a single, integrated marketplace. It is CAN’s first round with LetsMD. Incidentally, it is also CAN’s biggest investment in terms of the amount invested.”
In August 2016, healthcare analytics startup Tricog raised Series A funding from Blume Ventures, Inventus Capital Partners, and others. In September 2016, app-based network for doctors, DailyRounds secured an undisclosed amount of funding led by Accel Partners.
The development was reported by ET.