Healthtech startup MediBuddy closes Series B funding at $40 million

Satish Kannan, Co-founder and CEO, MediBuddy

Bengaluru-based Healthtech startup MediBuddy on Tuesday announced that it has closed its $40 Mn (Rs 292 cr) Series B funding round. The startup had raised $20 Mn last year under this round after merging with DocsApp(an online doctor consultation provider). 

The funding round was led by India Life Sciences Fund III, LLC, JAFCO Asia Fund, TEAMFund LP, ALES Global Japan, FinSight Ventures, and Beyond Next Ventures. It also saw participation from existing investors such as Bessemer Venture Partners, Milliways Ventures, and Rebright Partners.

The startup is planning to utilize the funds in strengthening its doctor and hospital base, patient reach, product, technology and brand.

Currently, both DocsApp and MediBuddy operate under the name of MediBuddy. The startup was founded by IIT Madras alumni Satish Kannan and Enbasekar Dinadayalane in 2015.

Satish Kannan, the co-founder and CEO of MediBuddy said, “At MediBuddy, we strive towards making high quality healthcare accessible to Indians across the length and breadth of the country. Moreover, we are proud of the fact that over fifty percent of these users are from non-urban areas”.

According to the startup, it is one of the largest digital healthcare platforms in India that helps users consult specialist doctors 24×7 through video, purchase medicines and book lab tests from the comfort of their homes. The startup’s platforms include an online portal and a mobile app. It claims that it has a partner network of over 90 thousand doctors, 7 thousand hospitals, 3 thousand diagnostic centres and 25 hundred pharmacies covering 23 thousand pin codes across India. It has catered to the healthcare needs of 30 million Indians to date.