The company plans to use the capital for technology, business development, product innovation and development, strategic hiring, and business expansion across India
Navia Life Care, a digital health startup, has raised $1Mn in funding en route to their Series A raise. The investment was led by Anicut Angel Fund, the equity arm of Anicut Capital, with participation from 9Unicorns and other notable angel investors, including the healthcare and life science practice lead of a top tier strategy consulting firm, strategic partnerships lead at Google India, and the CEO of a renowned global pharma company.
The fresh funds will allow the company to use the capital for technology, business development, product innovation and development, strategic hiring, and expansion across all healthcare hubs of India, metro cities along tier 2 and 3 cities.
The digital health startup is aiming to close a $5Mn series A in the next 3-4 months.
The platform consists of modules for patient engagement, practice management, digital EMR, and smart devices, which are used by healthcare providers and patients.
Speaking about the recent funding, Kunal Kishore Dhawan, Co-Founder, Navia Life Care, said, “It has been our mission to build a “connected” healthcare ecosystem, in order to facilitate improvement in the standard of care and patient outcomes. We aim to address a major issue of information asymmetry, which includes lack of availability of electronic medical records for easy access by patients and doctors, or view on prescription patterns for pharma, or even smaller-scale issues such as unavailability of waiting times in OPDs for patients or information about drug availability at their nearest drugstore. With the new funding coming in we have an opportunity to build a base for the next leg of our growth and we are grateful to partner with investors who share our vision.”
Ashvin Chadha, Co-founder, Anicut Angel Fund said, “Healthcare in India faces several challenges including access and affordability. Technology can be transformative in delivering healthcare services. In recent times, digital health in India has significantly moved from ‘Good to have’ to ‘Must have’ all because of this pandemic. We are privileged and delighted to partner with Navia Life Care as they march ahead in their mission to re-imagine the health ecosystem for Indians. We are looking forward to accelerating the growth of as well as building a global company.”
Dr Apoorva Ranjan Sharma, Founder, and President of 9Unicorns said, “Though India has highly qualified doctors and good medical facilities, healthcare providers still don’t talk to each other, which creates friction for the patients who have to carry cumbersome medical files every time they visit doctors. With a platform like Navia, the flow of patient information between doctors is seamless, leading to efficient treatment mechanisms. We are confident in Navia’s vision of disrupting a very broken healthcare ecosystem in India.”
Navia plans to serve over 200,000 doctors and 200 million patients in over 10 countries by 2025.