HealthCare startup OXA, which provides medical support for tourist have bagged undisclosed amount of Seed funding from UAE-based Idein Ventures. The new funding will be used to standardise their platform and scale up their operations.
The Hyderabad-based startup was founded in December 2016 by BITS Pilani alumnus Shahshank Shrivastav. Oxa focused on connecting and providing healthcare treatment globally through individually curated medical tourism packages. They have built a connected healthcare ecosystem around the globe to increase access to High Quality and Affordable healthcare for the masses. Previously, Shanshank also founded Sunjeevanam, which is a solar purchase and installation company.
Shashank Shrivastava, founder, Oxa Medical said, “We are creating a one-stop shop for people travelling to India for healthcare or medical treatment purposes. We not only arrange for travel, accommodation and treatment but also provide pre-travel medical consultation and post-treatment care services.”
Idein Ventures was founded in August 2015, founded by Indian and UAE Strategic Investors Mahesh Vellaboyina, Ashwin Srivastava, Rajeshwar Prasad. Idein Ventures are early stage venture capital and growth stage private equity firm focused on the overall growth of the start-up we partner with, by offering immense value in the functioning of a company along with funds.
The Venture fund has also funded other startups like BuildTraders (Seed Funding – $200k), ZoEasy Solution (Seed Funding – $150K), REsate Solution (Seed Funding), Quriyo Home Tuitions (Seed Funding – $150K), Infurnia (Seed Funding – $150K).
India is considered as the 2nd biggest destination for Medical Tourism after Thailand. Healthcare industry is growing at a tremendous pace owing to its strengthening coverage, services and increasing expenditure by the public as well private players. During 2008-20, the market is expected to record a CAGR of 16.5 percent. The total industry size is expected to touch US$ 160 billion by 2017 and US$ 280 billion by 2020.
According to Ministry of Health, development of 50 technologies has been targeted in the FY16, which will help in the treatment of dangerous diseases. Read more about Indian Startup Ecosystem.