Foreign
FUNDING

Foreign investors seed fund the health tech startup Konsult

The Delhi – based healthcare tele – consultation platform, Konsult App Pvt. Ltd., has raised Rs. 3.25 crores from a consortium of foreign investors from US, UK, Australia and The Netherlands. The foreign investors who took part in the rounds of funding are Koen Bouwers, a board member at Flying Car Company Terrafugia; Lomesh Agarwal from the company, Magic Leap; Jeroen Mensen from the company Credit Suisse Investments and Pablo van den Bosch, a board member at Mad aster foundation. The startup is also in talks with the same group of foreign investors to raise pre – Series A round of funding. Read more on Investments

Konsult App Pvt. Ltd. was founded in 2015 by Anshul Mittal, a lawyer and Puneet Agarwal, a medical practitioner. Konsult App is a mobile app platform which helps patients connect with doctors (mostly in their vicinity), post their initial face to face consultation. The app enables patients to discuss medical issues and queries pertaining to the medicines prescribed for them, post their initial face to face consultation with doctors. The startup is currently operational in the Delhi – NCR region and has tie ups with more than 1200 doctors in the region. The app is available for free download in the Android and iOS platforms.

“It’s an aggregation model; there is no need for an appointment. Depending what the duration of the call is, the patient gets charged. There is an on – boarding cost involved for the doctors. We make money on the basis of every transaction. We charge a flat commission on, where 70% goes to the doctor, 30% is our share”, said the co – founder of the startup, Anshul Mittal.

India is one of the most populous countries in the world where there is a tremendous scope for medical startups to grow. Due to pollution, heat waves, cold waves, allergies, bacteria, viruses etcetera, deceases are on the rise in India, leading to greater demand for doctors and medical startups. The medical startup sector in India has seen some heavy funding by foreign investors in the past year or so. The Bangalore – based Medinfi Healthcare Pvt. Ltd. had raised a seed funding of Rs. 32 lakhs from a clutch of angel investors in the seventh round of its angel funding this month (March, 2017). The Yuvraj Singh – sponsored healthcare startup, Healthians.com, had raised Rs. 20 crores in Series A funding led by the VC firm, Beenext, in October, 2016. Other healthcare startups like Practo had raised Rs. 357.5 crores in Series D round of funding, led by the Chinese firm, Tencent, in January, this year (2017). The main function of almost all of these medical startups is that they make finding and fixing an appointment with a doctor very easy for people. People are able to look up certified doctors in their vicinity and fix an appointment with them using the startups’ mobile apps. They are also able to chat with or call the doctors, post the initial consultation, using the startups’ mobile apps. People are able to discuss any medical issues or medical queries with their doctors, post the initial consultation, using the startups’ mobile apps. This has enabled the people of India to get easy access to quality healthcare services. Even people who are new to various cities or towns in India can look up certified doctors in their vicinity using the startups’ mobile apps. The Government of India should create a more business friendly environment in India to promote foreign investments in India. It should also fund and promote more innovative and useful startups like Konsult. Read more on Startup News

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Foreign investors seed fund the health tech startup Konsult
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