US-Based VC Firm Artiman Ventures Invests $4Mn in Healthcare Startup MedECUBE

Gurgaon-based healthcare startup medECUBE has raised about $4 Mn (INR 25 Crore) in series A funding from Artiman Ventures.

medECUBE is an ‘asset-less’ care coordination service venture by Dr. Dilpreet Brar. It currently operates out of its head office in Gurgaon and has a support office in Singapore. On the other hand Artiman Ventures is an early-stage Silicon Valley-based venture fund that invests in white space startups.

medECUBE has conceptualised a comprehensive offering called DR.SCAN (Discovery, Records & Alerts, Second Opinion, Coordination, Access, Navigation) which aims to eliminate all friction points in the current healthcare system. The company sees key users for the offering, categorised as individual domestic patients, individual international patients, corporate houses and medical practitioners.

medECUBE offers an end-to-end solution using three enablers:

Aggregating and curating services
A global second opinion platform
Clinical Decisions Software.

Founder, Dr. Dilpreet Brar, said “medECUBE will help patients get second opinions from leading medical experts across the globe, give sound advice on the most appropriate healthcare solutions, help patients make up their minds and hand-hold them right through this journey.”

The company has a second opinion platform, currently comprising over 100 leading specialists from hospitals like, Max Healthcare, Fortis, Apollo, Medanta and Artemis along with over 100 specialists in the US, UK & Germany.

While in the incubation stage, medECUBE already has several patients on board, who are availing services. The service also comes with subscription plan, where individuals can avail the plan at INR 5000 per person for a year. For corporate plan, a company with an employee base of over 500, the subscription price ranges up to INR 10 Lakh to 15 Lakh annually, depending on the number of employees.

The online healthcare industry in India has taken a sudden boom with multiple players entering in the sector. According to IBEF, the healthcare market in India was close to $100 Bn in 2015, it is expected to reach $280 Bn by 2020 at a CAGR of 22.9%.

Prior to this in Janury 2016, Mumbai-based Zoctr, a health care aggregator platform, raised an undisclosed amount of funding from ad-for-equity media investor Times Group. Other players in this sector include eKincare, Lybrate, Ziffi and Qikwell, Curofy, Care24, etc.

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