Hyderabad-based home nursing and professional caregiving service provider Life Circle Health Services has raised $150K (INR 1 Cr) from Europe-based senior healthcare service provider for elderly, GROUPE SOS.
Apart from the investment, GROUPE SOS will also share its technical know-how and International best practices with Life Circle.
Life Circle was founded in September 2013 by Priya Anant, Anant Kumar, and Atul Kumar. It provides subscription-based professional caregiving and home nursing services to chronically ill and bed-ridden seniors in India. The startup has a team of 75 caregivers and nurses who provide nursing care services like vitals, injection, and dressing.
Anant Kumar, founder and CEO of Life Circle, said “We have provided more than 150,000 hours of professional caregiving services so far. We differentiate our services by providing trained and verified caregivers, creating a seamless continuum of care, providing work-related training, and psychological counselling to caregivers for managing burnouts and providing flexible caregiver engagement to seniors.”
Life Circle claims to serve 60 customers every day with eight hours of services allowing customers to avail services on an hourly and daily basis.
The startup plans to use the newly raised capital to deepen its presence in Hyderabad and expand its operations to other cities including NCR, and aims to be in 20 cities by 2020.
According to IBEF, the healthcare market in India is expected to touch $280 Bn by 2020, clocking a CAGR of 22.9%. Of the overall market, the healthcare delivery sub-segment accounts for 65%. Home healthcare space has seen the entry of multiple startups in the last few years. Before this, New Delhi-based healthcare services, Pramati HealthCare, raised $200K in Pre-Series A round of funding from angel investors and Mumbai-based home healthcare services startup, Care24, raised $4 Mn in series A round of funding led by SAIF Partners.
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