New Delhi-based healthcare services, Pramati HealthCare, has raised $200K in Pre Series A round of funding from angel investors with a strong healthcare background.
Founded in 2014 by Vishal Jain and Deep Bajaj, Pramati Healthcare, offers caretaking services for patients at home. The startup hires and trains caregivers and then deploy them to perform various services at Pramati.
The facility is presently available in Delhi-NCR region, offering three services including Assistive Care (care offered by trained professionals and nurses at home), Rehabilitation Services (service provided by physiotherapists, speech therapists and occupational therapists) and Value Added Services (this includes offering medical equipment and diagnostic services). The startup also ensures that nurses and caregivers are well-groomed and know the standard practices. It claims to have increased its patient visits from 3300 per month to 5000 per month in last six months.
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Deep Bajaj, co-founder of Pramati Healthcare said “We were at operational break-even for past few months and hence, more than the funds, at this stage, we were seeking right partners who can provide mentorship, intellectual capital and domain expertise. With our current Angels, we have hit the jackpot in terms of perfect strategic value they bring on board both in terms of network access & Industry Expertise. As a company, we have always been focused on scaling operations without losing sight of unit economics; we understand the value of each customer and hence, have a great customer experience team to ensure excellent user experience.”
The startup will use the newly raised funds to consolidate its position in Delhi-NCR by hiring talent, improvising training modules, strengthening network and bolstering the customised tech platform. It further aims to operate as an ‘Extended Care Partner’.
The healthcare industry in India is pegged to grow by $280 Mn in another five 5 years which gives enough space for ecommerce in healthcare. Also, according to a PwC report, the average investment size by private equity funds in healthcare chains has already increased from $5-15 Mn to $ 20-30 Mn. There are multiple startups that have entered the domain capturing major share in the market. These include Portea Medical, GoodHands, Tribeca Care, Epoch Elder Care, among others.
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