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Capital funding in the healthcare sector appears to have scaled new heights. In the current quarter, 17 Indian healthcare IT companies received venture capital funding, with a few healthcare and consumer-centric firms drawing international as well as domestic funding.
One of them, Singapore-based generic drug company Eywa Pharma Pte Ltd, raised $30 million from Eight Roads Ventures India, the proprietary investment arm of Fidelity International Ltd; US-based F-Prime Capital Partners; and Envestor Ventures Limited and its affiliates, which are part of the Shriram Group in Chennai.
Global highGlobal healthtech venture capital funding touched $1.25 billion in the third quarter of 2016, according to a report by research firm Mercom Capital Group. A total of 118 VC funding deals involving US companies took place in the third quarter of 2016, and 59 deals in the rest of the world. In the second quarter of 2016, 108 VC funding deals were recorded in the US and 32 in other countries.
“International funding deals continue to be strong, especially in China, boosting overall totals,” said Raj Prabhu, CEO and co-founder, Mercom. He added that 2016 is on pace to be the best fund-raising year for the sector.
CureFit, a Bengaluru-based developer of a healthcare and fitness app, raised $15 million in Series A funding from Kalaari Capital, Accel Partners and IDG Ventures.
HEAL Institute, a Mumbai-based sports-focussed fitness and wellness start-up, raised up to $7.5 million in funding from a group of high-profile investors, including former Standard Chartered banker Jaspal Bindra and Parth Jindal, son of JSW Group Chairman Sajjan Jindal.
Tricog Health Services, a Bengaluru-based developer of a Cloud-connected ECG device, raised $1.8 million in Series A funding from venture capital firms Inventus Capital Partners and Blume Ventures. It raised another $300,000 from angel investors.
Modasta, a Bengaluru-based online source for health and medical news/information, raised $1.5 million from Mauritius-based high networth individuals.
Celes Care, a Hyderabad-based virtual health clinic for women, received around $1 million in seed funding from early-stage venture capital firm Endiya Partners and a few affluent individuals.
Gurgaon-based provider of healthcare consultation through video conferencing, Doctor Insta, raised $1 million in funding from RoundGlass Partners. seeDoc, a Gurgaon-based developer of an online virtual medical consultation app that offers paid video consultation with doctors, raised $1 million in seed funding led by early-venture fund YourNest Angel Fund. Tiyo, a Kolkata-based online healthcare platform that facilitates doctor appointment booking, raised $120,000 of angel funding led by veteran entrepreneurs from West Asia. Tiyo also raised $750,000 in pre-Series A funding.
Alternacare, a New Delhi-based provider of remote doctor consultations, raised $500,000 in seed funding from Eros Labs.
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