The Bengaluru – based health tech startup Medinfi, announced on Tuesday (29/3/2017) that it had raised Rs. 32 lakhs in the seventh round of angel funding from its existing investors. Vinod Martin, COO of a Singapore – based IT Services Company, Hemant Kaul, former MD and CEO of Bajaj Allianz General Insurance and Prof. Ram Kumar Kakani of XLRI are the startup’s existing investors who funded the seventh round of its angel funding. The startup will utilize the funds secured to improve its customer base to five million by 2018 and expand its presence to 50 Indian cities and towns, Ravi Shankar Mishra, co-founder and CEO of Medinfi said. Read more on Health tech startups
“Medinfi has surpassed its projected number of users for FY17 at an extremely low user acquisition cost”, Ravi Shankar said.
Including this round of angel funding, the startup has so far secured Rs. 4.76 crores. Medinfi is a web as well as mobile based application platform where users can locate the best of clinics and hospitals in their vicinity. However, since the startup does not have any revenue sharing model with the doctors in hospitals and clinics, users cannot book appointments with doctors using this app. Both its website and mobile app provide useful blogs on various health topics like women’s health, children’s health, nutrition, diet among other health topics.
Medinfi is currently operational in 30 Indian cities and towns and has a user base of one million users. The startup plans to launch its iOS – compatible app by July this year. Medinfi was selected as one of the top 100 digital health startups globally by Interface Health Excellence, Canada and was also selected for Facebook’s FBStart and Social Good Program. Prior to this round of funding, in July 2016, Medinfi had raised US $200,000 in the fifth round of angel funding from investors like Mudit Saxena, senior vice president at Genpact and Lim. In February 2016, the same startup had raised an undisclosed amount of funding from a clutch of three angel investors. The health tech sector in India has been booming for the past year or so. A lot of health tech startups like VIVO healthcare, Celes care, CureFit, Juno Clinic, Oxa etcetera have either been funded or have been Acqui – hired in the past year (2016). The services that Medinfi provides are very useful. Any person new to any city or town can easily look up the best clinics or hospitals in his or her vicinity and get access to the best of medical services. The Government of India should fund and promote more of such useful startups like Medinfi. Read more on Startup News