Mumbai-based Medd, a diagnostics booking app, has raised $150K in a bridge round of funding from a group of angel investors. The round saw participation from doctors, senior management of pharma, ecommerce and investment banking.
The founding team stated that this round is to fund growth till they negotiate a VC deal.
Medd plans to use the funds to expand its network of service providers, increase its team, strengthen technology interface and initiate marketing and branding efforts.
Started in May this year, Medd is a marketplace that focuses on leveraging technology and data to make healthcare delivery more efficient. Medd offers a platform to users for booking and managing diagnostic tests by giving 15-50% discount on all diagnostic tests in the best of labs.
The not for profit was started in 2011 which does 100,000 patients a year where they partnered with the best labs in the city with NABL (ISO 15189) accreditation. In four years they have grown from one center with almost no patients to 15 centers in 3 cities and serving over 100,000 patients a year.
According to Arpit Kothari, founder & CEO of Medd, “Unlike others, we do not want to stop at discover-ability and that is the direction we have started in.”
Ideated by IIT Bombay alumni Arpit Kothari, Akash Deep Singhal, Era Dwivedi and Anurag Mundhada, Medd presented at the World Congress on Public Health 2015 focussing on the way diagnostic services are delivered in India and any self pay market.
Earlier in May, Medd had raised undisclosed amount in funding led by Ajeet Khurana.
Medd was among the 12 startups that made it to our event, StartupPulse Mumbai 2.0 edition in August this year.
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