Meddo closes pre-Series A funding round at $6 million, Alkemi Capital joins as an investor along with SRI Capital and Picus Capital
Meddo equips OPD clinics with technology-enabled, digital solutions to turn them into full service medical centres complete with ERM systems, diagnostic support, medicine delivery services/support and much more
Technology startup Meddo has closed the Pre-Series A round at $6 million led by SRI Capital, Picus Capital and Alkemi Capital. Meddo equips OPD clinics with technology-enabled, digital solutions to turn them into full service medical centres complete with ERM systems, diagnostic support, medicine delivery services/support and much more, a company statement said.
It also said that despite COVID challenges, Meddo has been growing and expanding its network and service offerings. In the last few months, the venture launched solutions like L1 COVID centres, tele-consultation services, diagnostic solutions and a cost-effective healthcare membership called MeddoSure.
Talking about his vision for Meddo and sharing details regarding fund utilisation, Saurabh Kochhar, founder, Meddo, said, “Even with the ongoing COVID challenges, we have evolved on the way, turning each roadblock into an opportunity. Our investors have stood strongly by our side and have shown confidence in our aim to bring much needed inclusivity and structure to the primary healthcare space in India. Alkemi Venture Capital has been an active investor in the healthcare sector for around over five years now. So, having them backing us with funds is great validation of the idea and philosophy of Meddo.
“With the pre-series A round concluding, we are drawing up plans to utilise these funds effectively. Our focus will be on increasing presence and national footprint – both with more clinics in the NCR region and expansion to other cities; organic and inorganic expansion by investing in technology solutions that integrate seamlessly with the Meddo offering and strengthen the eco-system; investing in big-data that would give us access to trends in the healthcare industry at a micro and macro level so we may customise our offerings as per patient needs; and continuing to double down on patient offerings under Meddo Sure to achieve the vision of complete healthcare cover for patients, and going the extra mile to offer affordable plans that cover all expenses from primary health care (OPD) to hospitalisation (IPD).”
Apart from it, Alka Goel, founding partner, Alkemi Growth Capital, said, “We often fail to acknowledge and appreciate the role played by independent clinics (200-300K) in the overall healthcare delivery. Meddo is partnering with clinics on aspects such as technology and operations to make the patient and physician experience more seamless. In the process, it is increasing the asset utilisation of these clinics – a win-win for all stakeholders involved. Today, more than ever, the need is apparent, and Meddo is helping organise this fragmented market. We are excited about being partners with Meddo in this journey.”