Venture debt firm InnoVen Capital invests $1.7M in DocsApp
DocsApp was launched in 2015, with an aim to helps patients across India connect and talk to specialist doctors, for high-quality consultations over video calls, voice call and an in-built chat application. The company has over 5000 specialist doctors registered on their AI-powered digital platform. DocsApp provides consultation across 15 specialties including dermatology, gynaecology, sexology, paediatrics, psychiatry, general medicine and weight management among others.
The platform also allows the user to order medicines and book diagnostic tests online. More than 6 million Indians are using the DocsApp platform for their healthcare needs. Through this platform, not only patients from tier-1 but also patients from smaller urban areas are able to access highly specialized doctors.
Commenting on the investment announcement, Satish Kannan, Co-founder and CEO, DocsApp in a statement said, “Our company has touched the lives of millions of patients across India, who have used our application to receive quality healthcare, which includes doctor consultations, medicines and labs test. InnoVen shares our vision and understand our business well and are aiding in the acceleration of our scaling plan. Given its ability to offer flexible financing solutions & strong network through its presence in China & South East Asia.”
Elaborating on this investment, Punit Shah, Director, InnoVen Capital India in a statement said, “DocsApp’s solutions have had a positive impact on people from Tier 1, 2 3, and also to those that do not have access to quality healthcare. As a result of its targeted solutions and exceptional metrics, it has achieved a leadership position in the market. We are pleased to be a part of DocsApp’s growth journey, and believe that our investment will provide the company with the fillip it requires to achieve unbridled growth in the years to come.”
Source: ET Tech